Consumers are scrambling to buy cheaper goods out of fear that prices will rise due to the Trump administration’s tariff approach to the economy, The New York Times reported.
The Times interviewed three consumers buying Chinese-manufactured goods: Emily Moen, a pregnant coffee shop manager in Omaha, Nebraska, buying a car seat; Tom Barnard, a Texas marketing director helping his mother buy an iPhone; and Bree Chaudoin, an Illinois lending specialist stocking up on camping gear — all navigating the 145% tariff on Chinese imports imposed by the Trump administration this week.
“There’s panic buying going on and panic selling by investors, too,” Gene Munster, managing partner at Deepwater Asset Management, told The Times. “It’s more turmoil than I’ve seen in 20 years following the company. The speed of it has been crazy.”
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