Trump’s Tariff Sparks Panic Buying Across the U.S. ; Long Queues Outside Shops as Prices Set to Soar
Panic buying has gripped several parts of the United States following a major economic announcement by former President Donald Trump. Shoppers are seen forming long queues outside retail stores, scrambling to purchase everything from electronics to basic household essentials in anticipation of a sharp rise in prices.
The frenzy began after Trump announced the implementation of a retaliatory import tariff set to take effect from April 9. According to his declaration, prices of all imported goods are expected to surge by 35 to 40 percent overnight, sending shockwaves across retail markets and sparking an unprecedented wave of consumer stockpiling.
Consumers and Retailers Rush to Stock Up
The announcement has not only alarmed everyday consumers but has also prompted retailers to purchase goods in bulk to secure lower prices before the tariff takes effect. Shops are witnessing an overwhelming demand for imported products, with store shelves rapidly emptying and supply chains coming under pressure.
Among the most in-demand items are electronics such as laptops, smartphones, and tablets, along with home appliances like refrigerators, washing machines, and dishwashers manufactured outside the U.S. Luxury items like massage chairs, treadmills, and even home improvement tools and materials are also seeing a surge in purchases.
Automobile Market Sees Unprecedented Demand
The automobile sector has not been spared either. With the cost of cars and commercial vehicles expected to spike, showrooms across the country have reported an unusual increase in footfall as consumers rush to make purchases before price hikes kick in.
Tariffs on Multiple Countries, Including India
Trump’s tariff policy targets multiple countries, including India, as part of a broader strategy to address trade imbalances. However, this move has triggered a global tariff war, with countries such as China retaliating by introducing their own tariffs and ramping up domestic consumption of Chinese goods.
ears of a Global Economic Slowdown
The economic repercussions of this policy shift are already being projected. Global investment firm JP Morgan has issued a warning, forecasting that the global economy could shrink by 50 to 60 percent by the end of the year if the tariff wars continue. Economists now fear that this may potentially trigger a global recession.
As the deadline for the new tariff approaches, both American households and businesses are bracing for significant disruptions in pricing and supply, making this one of the most dramatic market responses to trade policy in recent memory.