If you’ve been eyeing a new smartphone or planning to upgrade your car, you might want to act fast. Recent tariff policies could drive up the cost of essential goods, from the food on your plate to the fuel in your tank. As the economic landscape shifts, Americans need to prepare for rising expenses and understand how to navigate these upcoming changes.

The Tariff Surge: What’s Changing and Why It Matters

Late last week, former President Donald Trump announced an executive order imposing new tariffs on imported goods, aiming to hold trade partners accountable for what officials call unfair trade practices. These tariffs target products from China, Mexico, and Canada, affecting a wide range of goods, from tech gadgets to automobiles and even groceries.

While tariffs are designed to shift the balance of trade in favor of American industries, the reality for consumers is stark—prices will likely increase as companies pass on the extra costs to buyers. So, what does this mean for your everyday purchases?