Scoring global deals in a tariff economy

[UNITED STATES] In April 2025, the United States implemented significant tariffs on imported goods, with rates reaching up to 54% on products from China and 46% from Vietnam. These changes are expected to impact a wide array of consumer goods, including electronics, clothing, beauty products, and kitchenware. Experts warn that these tariffs could increase the average U.S. household's annual expenses by approximately $3,800 .

For global consumers, particularly in markets like Malaysia, the ripple effects are already being felt. While the full impact on local prices remains to be seen, it's prudent to anticipate potential increases in imported goods and plan purchases accordingly.

Smart Strategies for Savvy Shoppers

1. Prioritize Essential Purchases

If you've been considering upgrading your electronics or replacing household items, now may be the time to act. Products such as smartphones, laptops, and kitchen appliances are expected to see significant price hikes due to the new tariffs. For instance, analysts predict that U.S.-made iPhones could become two to three times more expensive if manufacturing shifts to domestic production .

2. Shop Existing Inventory

Retailers often sell off existing stock at discounted prices before new, higher-priced inventory arrives. Look for deals on last-generation models of electronics, clothing, and home goods. These items are less likely to be affected by the recent tariff increases and can offer substantial savings.

3. Invest in Imported Specialty Items

Certain imported goods, such as high-quality kitchenware and specialty food items, are expected to become more expensive. Brands like Zwilling, Henckels, and Vitamix have indicated that their products may see price increases due to the tariffs . If these items are on your shopping list, consider purchasing them before the end of May to avoid higher costs.

4. Explore Domestic Alternatives

To mitigate the impact of rising import costs, consider purchasing domestically produced goods. While these items may still experience price increases due to higher raw material costs, they may be less affected by the tariffs compared to imported products.

5. Utilize Rewards and Cash-Back Programs

Leverage credit cards that offer rewards or cash-back incentives to offset some of the increased costs. Be sure to pay off your balance in full each month to avoid interest charges, which can negate the benefits of these programs.

Categories to Watch Closely

Electronics: Items like smartphones, TVs, and laptops are expected to see significant price increases. It's advisable to purchase these items now if they are essential.

Clothing and Footwear: Apparel and footwear, especially those manufactured in Asia, may become more expensive. Consider buying seasonal items in advance.

Beauty Products: Skincare and makeup products, many of which rely on imported ingredients and packaging, are anticipated to rise in price .

Kitchenware: High-quality kitchen tools and appliances from brands like Zwilling and Vitamix may see price hikes. If you're planning to upgrade your kitchen, now is a good time to buy.

Caution Against Panic Buying

While it's tempting to stock up on goods before prices rise, experts advise against panic buying. Impulse purchases can lead to overspending and unnecessary debt. Instead, focus on buying items you genuinely need and have planned for, and avoid hoarding products that may not be essential.

Final Thoughts

The current tariff environment presents both challenges and opportunities for consumers. By staying informed and planning purchases strategically, shoppers can mitigate the impact of rising prices. Remember to prioritize essential items, shop existing inventory for deals, and consider domestic alternatives when possible. With thoughtful planning, it's possible to navigate the tariff age without breaking the bank.