SALT LAKE CITY — With so much discussion and concern surrounding tariffs and impending price hikes on everyday merchandise, many Utahns are wondering if they can protect their purchases and if there’s a strategy to avoid tariff fees.
Dr. Kyle Handley, an economics professor at UC San Diego, said no one should go out and start panic-buying goods before tariffs take effect.
"I can understand the idea that you might want to think about those things," Handley said. "If there were people considering a larger durable goods purchase, like a new refrigerator, new washing machine, maybe even a new car, depending on how the Trump administration follows through and when they follow through with some of the tariffs they've announced, those things may become more expensive."
Other than that, Handley said consumers shouldn't rush out and buy something that they are not necessarily ready to buy.
Handley also emphasized that the timing of goods that go up in price is difficult to pinpoint and has a lot to do with the enforcement or changes in tariffs by the Trump administration.
“It's hard to say at this point precisely what a strategic consumer should do and lots of other things are going to get more expensive and they may wish they had a little bit more cash on hand," added Handley. "Like I said, I wouldn't rush out and do something but if you were planning anyway it might be a good time.”
