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Since the election, Trump has promised to immediately impose a 25% tariff on Mexican and Canadian imports, along with increasing existing tariffs on Chinese imports by 10%. On the campaign trail, Trump said he would put tariffs of 10% to 20% on all imports.

Economists widely agree that prices will increase with tariffs. Though the policy is meant to encourage American companies to produce their goods domestically, the global supply chain has become so entangled and interconnected that for many companies, the most simple thing will be to pass the cost of tariffs on to consumers – executives from multiple companies, including Walmart, Columbia Sportswear and AutoZone, have said they will do as much.

In a November Harris/Guardian poll, nearly half (44%) of respondents said they were planning purchases before Trump entering office, while nearly two-thirds (62%) said they were at least adjusting their financial plans for next year.

It's like a run on the banks, except it's a run on the Walmarts.

As inauguration day approaches, consumers scooping up iPads, building supplies, shelf-stable foods and electric cars

Summary

As Donald Trump's second inauguration nears, Americans are rushing to buy goods like electronics, appliances, construction materials, and shelf-stable foods ahead of his proposed tariffs on imports.

The tariffs, including a 25% increase on Mexican and Canadian imports and 10% on Chinese goods, are expected to raise prices significantly.

Nearly half of Americans surveyed have altered purchasing plans to avoid higher costs.

Economists warn the tariffs could raise household expenses by $1,900 to $7,600 annually. Despite inflation concerns, Trump maintains tariffs "cost Americans nothing."