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American Consumers Learn to Shop in the Age of Trump Tariffs
The Straits Times
|February 18, 2025
Many stocking up before retailers pass on what they pay by way of tariffs to customers
WASHINGTON - Ms Jolene Beam, a 27-year-old preschool teacher, is getting married in June. But she has already begun shopping for the new home she will be setting up, expediting the purchases after hearing about the Trump tariffs.
"Do the maths, that's going to show up in your bill," she said. "I've bought a TV, two mattresses, pillows, cookware and lamps," she added, as she stood in the checkout line at Macy's. "I'm keeping them in my parents' basement until our apartment is ready."
Like many department stores and retailers, Macy's was offering generous discounts for Presidents' Day, a holiday which honors the nation's first president and informally celebrates all presidents.
"I already bought a car last year, or I'd have rushed out to buy that too," Ms Beam said. She was also considering placing an order for a couch and a dining table set, if the retailer could make a delayed delivery. "I'm hunting around," she said.
All products from China have been hit by an additional 10 percent tariff since Feb 4. Economists say it is a matter of time before the retailers pass on what they pay by way of tariffs to customers.
But for now, at Costco, the jostling weekend crowds were not perturbed as prices had not been marked up. The popular membership-only retailer, one of the world's largest, offers high-quality products at low prices through bulk purchasing and efficient operations. A number of items on sale including clothes, shoes, electronics, furniture and household goods are sourced from China.
Costco says it cannot guarantee that prices will not be raised, but is trying to manage costs by advancing inventory purchases to avoid supply chain disruptions and negotiating with vendors to manage expenses.
Cette histoire est tirée de l'édition February 18, 2025 de The Straits Times.
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