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Home > Are you stockpiling ahead of tariffs?

Are you stockpiling ahead of tariffs?

February 3rd, 2025 at 01:20 am

The tariffs imposed by our Idiot-in-Chief go into effect Tuesday in what he foresees as "America's Golden Age."

 It could be more painful than that. Remember, rising prices won't likely be seen immediately, due to existing inventory, except for non-durable goods like food. We get an awful lot of food from Mexico. And I do worry about opportunistic and unethical price gouging by those seeking to take advantage.

I recently started thinking about stockpiling a few things like paper towels, toilet paper and the like.  If I had a spare freezer, I'd fill it up, but since I really have very limited storage here, whatever buys I do now will likely have minimal impact on my spending in the months ahead.

My oil tank is still 3/4 full and should see me through most of the winter, but if tariffs remain in place through summer, it will definitely impact my usual dead-of-summer heating oil buy, when oil prices are usually lower. If I were an optimist, I might say this would all come to an end in 6 months' time, but who really knows.  Still, I'm glad my car purchase is out of the way.

What about you?

In other news, I finished my taxes but am anxiously waiting to get the email from the IRS telling me my filing submission was accepted. In past years, I put zeroes in a few blank spaces that caused my return to be repeatedly rejected. It was a very frustrating process because the IRS does not precisely spell out what the problem was.

But anyway, despite having made about $5,000 more in income than I predicted and thus having to pay back about $500 to the Affordable Care Act, I should still wind up with a $1400 federal refund. At some point when my income becomes more consistent, I will tinker with taxes I have deducted, but right now it's still a bit of a moving target.

I'm eager to begin next on my state tax return but can't do that til the federal one is accepted.

Posted in Uncategorized | 15 Comments »

15 Responses to “Are you stockpiling ahead of tariffs?”

  1. Lots of Ideas Says:
    February 3rd, 2025 at 01:39 am 1738546789
    1738546789

    I think if you haven’t stockpiled yet, it will be difficult to do it in the next few days because people will be panic buying.

    I buy stuff on sale so I have a stockpile, but the past month or so I’ve been seeking out some things. I bought a dozen cans of corn for $8.00 last week - that is one of the few canned vegetables I use. Everything else I prefer fresh or frozen. I also bought toilet paper but I wish I bought more. I’ll be keeping my eyes out.

    I don’t think this can be allowed to last long but there will be a lot of pain for a lot of people along the way.

  2. Amber Says:
    February 3rd, 2025 at 04:45 am 1738557954
    1738557954

    I bought paper towels, toilet paper, bleach and few other miscellaneous items. Eggs are far and few and expensive.
    This trade war that he started is ridiculous, we will all suffer from this.

  3. Dido Says:
    February 3rd, 2025 at 01:12 pm 1738588368
    1738588368

    I have some things I routinely stockpile in my basement, where I have a fair amount of storage--some paper goods and some freeze dried foods from Thrive Life. I haven't really changed what I am doing. Ever since the pandemic, I try to maintain a stockpile of at least 6 months' worth of toilet paper in particular, but, having gotten to that point, I now merely replace what I use each month so I don't use the stockpile up.

  4. Petunia100 Says:
    February 3rd, 2025 at 02:33 pm 1738593227
    1738593227

    As much as we can, yes. But at this point there's nothing we can do about the higher prices which are coming. After all, 53% of the voters said higher prices is what they want. Tens of millions of non-voters couldn't be bothered to have an opinion either way. So, here we are.

  5. savvyfinanceguide Says:
    February 3rd, 2025 at 04:35 pm 1738600552
    1738600552

    It looks like Mexico has reached an agreement with the U.S. and that tariffs will be delayed a month.

    Details (Tweet from President of Mexico):

    1. Mexico will immediately reinforce the northern border with 10,000 members of the National Guard to prevent drug trafficking from Mexico to the United States, particularly fentanyl.

    2. The United States is committed to working to prevent the trafficking of high-powered weapons to Mexico.

    3. Our teams will begin working today on two fronts: security and trade.

    4. They are pausing tariffs for one month from now.

    Overall this is good news in the short term for our daily/weekly grocery costs along with other goods. We will see what happens in a month.

  6. rob62521 Says:
    February 3rd, 2025 at 07:56 pm 1738612588
    1738612588

    I began stockpiling before the election because I was concerned with what might happen if we had unrest during that time and I continue to pick up stuff when I find a sale, but it is scary time to live. I'm glad the tariffs have been delayed, but it still hanging over our head. I wonder what it is going to do to our retirement accounts as far as the stock market not liking all this crazy business.

  7. Amber Says:
    February 4th, 2025 at 12:42 am 1738629755
    1738629755

    @SavvyFinanceGuide our so called commander in chief decided to back paddle on his tariffs, there were a few conservatives who had expressed concerns. The lesson, that I hope he has learned is that yes the U.S. Isa powerful country, bullying doesn’t always work, and we must work with others

  8. savvyfinanceguide Says:
    February 4th, 2025 at 02:20 am 1738635603
    1738635603

    @Amber he reached a deal with Canada and Mexico to enhance border security, which is what he wanted all along. He used the tariffs to create leverage and get some deals made quickly. Overall the outcome is good for the US, the markets are fine and we have avoided a trade war (for now).

  9. savvyfinanceguide Says:
    February 4th, 2025 at 02:30 am 1738636201
    1738636201

    Here is the tweet from PM Trudeau on the deal made with Canada:

    I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly 10,000 frontline personnel are and will be working on protecting the border.

    In addition, Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada- U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering. I have also signed a new intelligence directive on organized crime and fentanyl and we will be backing it with $200 million.

    Proposed tariffs will be paused for at least 30 days while we work together.

  10. patientsaver Says:
    February 4th, 2025 at 02:03 pm 1738677791
    1738677791

    It looks like part of the deal was making Trump's announcement. I'm glad we averted tariff implementation, but The Felon in Chief sure isn't making friends. Kind of like a sledgehammer approach.

  11. Petunia100 Says:
    February 4th, 2025 at 03:40 pm 1738683658
    1738683658

    @Savvyfinance Guide - I find it difficult to believe that Trump really didn't intend to levy tariffs. While on the campaign trail, when asked for his plan to help families afford childcare, he stated that we would have so much money from collecting tariffs that paying for childcare would not be an issue. Granted, it is quite unclear how government revenues translate to families having money available to pay for childcare. However, that's not a statement you make if you don't intend to collect tariffs.

  12. LivingAlmostLarge Says:
    February 6th, 2025 at 01:29 am 1738805352
    1738805352

    He's a moron. Did you see his latest statements? A friend mentioned gaza and I said he didn't say that. I couldn't believe he honesty said that palestinians should leave and us take over. I said no way he said that. I mean he literally ran for president, he has to at least understand why they are fighting over the gaza strip. Yup. He said it. I watched and my mouth dropped.

    The worse part? The republicans who don't flat out say he's an idiot. I'm pretty sure it's senility. Because I don't think he's really this stupid.

  13. Petunia 100 Says:
    February 6th, 2025 at 02:22 am 1738808538
    1738808538

    @LAL, someone sent me a link today for a "The Onion" type article which states that Palestinians announced they are taking over Mar-a-Lago and plan to clean it up. It's hilarious.

  14. Patientsaver Says:
    February 6th, 2025 at 11:00 am 1738839625
    1738839625

    LAL: Yes, i read about those remarks. Most unfortunate. They really reveal his flawed, deeply arrogant, delusions-of-grandeur personality. He’s less about making America great again and more about power grabs.

  15. Tabs Says:
    February 6th, 2025 at 05:54 pm 1738864448
    1738864448

    Despite the impending onslaught of politically-related facepalms that I am sure to make in the next four years, I actually haven't stocked up on any extra in particular. By nature, I already kind of "prep", so anything I feel is essential, I already have double amounts of it....

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