Us Consumers Rush To Buy Big-ticket Items Before Trump's Tariffs Kick In

John Gutierrez had been thinking about buying a new laptop for the past year. The Austin, Texas, resident needed a computer with faster processing and increased storage for his photography work and had his sights set on a product from a Taiwanese brand.

Then President Donald Trump announced expansive new import tariffs Wednesday, including a 32 tax on imports from Taiwan. That same day, Gutierrez ordered the laptop, with a base price of 2,400, from a retailer in New York specializing in photo and video gear.

"I thought I'd bite the bullet, buy it now, and then that way I'll have the latest technology on my laptop and don't have to worry about the tariffs," he said.

Gutierrez was among the U.S. consumers rushing to buy big-ticket items before the tariffs take effect. Economists say the tariffs are expected to increase prices for everyday items, warning of potentially weakened U.S. economic growth .

The White House hopes the tariffs prod countries to open their economies to more American exports, leading to negotiations that could reduce tariffs, or that companies increase their production in the U.S. to avoid higher import taxes.