Well here’s a fun story for the “Biden made everything so expensive and I don’t care if Trump wants to throw me in a camp because my laundry detergent costs more than it did in 2019” crowd: The Washington Post reports that companies are preparing price hikes on anything and everything made from foreign-sourced components including clothing, footwear, baby products, auto parts, and hardware in anticipation of the convicted felon former president winning and implementing tariffs.
“We’re set to raise prices,” said Columbia Sportswear CEO Tim Boyle “We’re buying stuff today for delivery next fall. So we’re just going to deal with it and we’ll just raise the prices… It’s going to be very, very difficult to keep products affordable for Americans.” AutoZone CEO Phil Daniele said the same. “If we get tariffs, we will pass those tariff costs back to the consumer. We’ll generally raise prices ahead of – we know what the tariffs will be – we generally raise prices ahead of that.”