A new wave of Trump-era tariffs is set to begin on August 1, 2025, potentially driving up prices on everyday goods. While the goal is to boost U.S. manufacturing, the reality is that American importers pay the tariffs first, and those costs often get passed directly to consumers—especially impacting retirees and families on fixed incomes.

Older adults already facing inflation and rising medical expenses may feel the biggest pinch. Price hikes are expected in electronics, furniture, clothing, groceries, appliances, and prescription drugs—with some medications facing a proposed 200% import surcharge. These increases could hit wallets hard by late summer and fall.

Experts suggest acting now: shop summer sales before August, stock up on pantry items, fill 90-day prescriptions, and plan big purchases like appliances or phones early to avoid tariff-driven markups. Even uncertainty in global trade can trigger preemptive price hikes.

Bottom line: While the tariffs are meant to pressure foreign suppliers, the real cost often lands on American shoppers. Being proactive now could help fixed-income households brace for the financial impact coming in August.