Americans rush to buy TVs, soy sauce, Lululemon workout gear

Subscribe to enjoy similar stories. Since President Trump announced sweeping tariffs on imported goods Wednesday, Americans have been busy “adding to cart." Cedar Roach promptly checked out on $244 of workout sets from Lululemon (a Canadian brand) and a $150 sweater from House of Sunny (a U.K. brand) while Trump’s press conference played over the radio.

Her boyfriend, Sean MacKenzie, ran out to buy three eight-packs of Guinness, filling up their refrigerator’s vegetable drawer with cans. “I knew what was vulnerable and what I wanted, so I wasn’t going to delay," said Roach, a 22-year-old public-policy major at Southern Methodist University. She said that the tariff news has been the talk of the campus—especially for its potential impact on alcohol prices—and that she and her friends have been watching the stock market and worrying about the economy they are set to graduate into.

“This is the only time in my four years of being on campus where I’ve heard people who aren’t even interested in politics or the economy talking about it," said Roach, who works part time for the global trade division of a consulting firm. Consumers couldn’t predict Covid-era price increases. With tariffs, they aren’t taking any chances.

Economists said tariffs will likely raise prices consumers pay for produce, clothing, electronics, cars and many other goods. Americans were already on edge leading up to Trump’s announcement of 10% baseline tariffs on most imported goods and higher rates for other countries, including China and India. Expectations of inflation soared in the University of Michigan’s March survey of consumer sentiment, despite a slowdown in month-over-month price increases in February.