President Donald Trump’s tariffs on tech products from China and other countries are causing disruptions in American consumers’ financial plans. Prices on imported tech like laptops, TVs, and gaming systems have already increased due to the tariffs. Acer announced a 10% increase in laptop prices to offset tariffs, and additional tariffs planned by Trump could further drive up tech prices. Experts predict that prices on items like iPhones could double this year, leading to delays in preorders for products like the Nintendo Switch 2. A CNET survey found that 33% of US adults feel pressured to buy tech products before potential tariff-related price hikes, with 17% already making purchases ahead of such increases.
Many US adults are feeling pressure to buy electronics, smartphones, laptops, and home appliances in anticipation of tariff-related price hikes. Younger generations such as Gen Z and millennials are facing more pressure to make purchases compared to Gen X and boomers. Most US adults are making changes to their budgets to prepare for tariff-induced price changes, including cutting back on nonessential spending and saving more from each paycheck. Shoppers worried about tech prices going up due to tariffs are purchasing big-ticket items sooner than later, with smartphones and laptops being top items of concern.
While many shoppers are buying big-ticket tech items now to avoid potential price surges, some are still delaying purchases over $500. Some are planning to take advantage of major sales throughout the year to save money. Experts recommend comparing prices to find the best deals and save money on purchases. Making a big purchase now could save money in the long run if prices go up due to tariffs. Experts caution against using credit cards to finance tech purchases in anticipation of tariff-induced price hikes, as interest charges could end up costing more than increased tariffs.
CNET experts offer tips on saving money on laptops, TVs, and smartphones amid tariff concerns. Now is a good time to buy a discounted new laptop with upcoming sales events like Easter, Father’s Day, Memorial Day, and back-to-school sales. Refurbished laptops may be a good option for those on a budget, as they may not be as affected by tariffs. Purchase last year’s TV models now at their lowest price point before prices increase on newer models. Assess the need for a new phone before purchasing, as most smartphones last between three to five years. Look for deals and trade-in offers to save money on a new phone.
Overall, if you have the funds and need a tech product, experts recommend buying now to avoid potential tariff-induced price jumps. Shop around to find the best deals and save money. Making a big purchase ahead of tariff-induced price hikes could save money in the long run. Assess your need for a new tech product before making a purchase, and consider refurbished options or purchasing last year’s models to save money. By staying informed and strategic in your tech purchases, you can navigate the uncertainties of tariff-induced price increases.
