From vegetables, smartphones, your wallet to jobs, all things that are under Donald Trump's Tariffs impact

Donald Trump has unveiled his latest tariffs, and they could have significant implications for your wallet, as per a report.

President Trump's sweeping new tariffs, on top of previous levies and retaliation worldwide, are expected to increase prices for everyday items. The trade wars have already roiled financial markets and plunged businesses into uncertainty — all while economists warn of potentially weakened economic growth and heightened inequality, AP reported.

Which impacts will be felt by consumers and workers first? And what can households do in the face of so much uncertainty? Here's what you need to know:

Which consumer goods will be affected?

The tariffs announced by Trump Wednesday, on top of other levies that are already in effect, tax imports from nearly all of America's trading partners. And U.S. shoppers currently rely on a lot of goods made abroad, as per a report.

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Fruits and vegetables, your next phone purchase, a pharmacy order, new clothes, or a trip to a mechanic who uses auto parts made outside of the U.S. could all be impacted, AP reported.

The timing of when prices will go up comes down to inventory, Stillwagon said. Much of that will also depend on how businesses prepare and respond to the new levies. While companies may have stocked up on goods in anticipation of these tariffs, he expects some stores to see more immediate price increases.

Prices on perishable groceries will likely increase first, because supermarket inventories need to be replenished more frequently. But a range of other items — like electronics, household appliances, clothing and footwear — could also be affected in the coming weeks and months.

What are tariffs and how will they affect me?

Tariffs are