U.S. Tariffs Drive Panic Buying, Raise Car Prices

Newly imposed U.S. tariffs are prompting consumers nationwide to stock up on goods like spices, toys, and cars ahead of anticipated price hikes, with economists estimating the 2025 tariffs could cost households up to $4,700 in the short term. Notably, tariffs on cars and Chinese imports are expected to significantly raise prices on both essential and discretionary items, with car prices projected to rise 10-15% due to levies on finished vehicles and imported parts. Surveys show 57% of shoppers are reducing non-essential purchases, and more than half are prioritizing the lowest-priced products, signaling a weakening in brand loyalty. The duration and ultimate impact of the tariffs remain uncertain, fueling both anxiety and instances of panic buying among U.S. consumers. Industry analysts note that grocery costs continue to climb, forcing consumers to pay more for familiar brands or switch to cheaper alternatives. Experts recommend consumers buy only what they can afford, as the effects of the tariffs remain unpredictable.