A sweeping set of tariffs introduced by President Donald Trump is set to take effect on August 1, 2025 — and financial experts warn that the impact will be felt directly by American consumers.

Trump has dubbed the date “Liberation Day,” but the time between the initial announcement in April and the delayed enforcement has caused significant turbulence in the stock market. While the White House has now confirmed the August 1 start date, it also noted there’s still “a possibility of further extensions – or delays – to come.”

Who Really Pays for Tariffs?

A key point often misunderstood is that tariffs aren’t paid by foreign manufacturers. Instead, the cost typically lands on U.S. importers, who often pass that cost onto consumers through higher prices.

With a major price surge expected across a wide range of goods, experts are urging Americans to make certain purchases now — before the new costs kick in.

What to Buy Before August 1

1. Tech: Phones, Laptops, Televisions

Forbes notes that although the final details of the tariffs on electronics haven’t been confirmed, the uncertainty alone could lead to early price increases.

“There is a lot of uncertainty on if such tech does see price hikes because of tariffs, so to avoid any worries, it’s advised you make that big purchase soon,” Forbes reports.