[Source/Observer Network Xiong Chaoyi] US President Trump has been playing the trick of "reciprocal tariffs" in an attempt to extort global trade partners, but "harming others will eventually harm oneself," and Americans are already feeling the pain of the tariff war.

Reuters reported on April 8 that before the higher-rate "reciprocal tariffs" against various countries by the US were set to take effect on April 9, many American consumers began frantically stocking up on goods as much as possible, fearing that once the tariffs took effect, retail prices in the US would quickly rise. Some Americans also worry that any panic could trigger a buying spree, and under the expectation of worsening inflation, this behavior might further intensify.

A think tank estimated that Trump's new tariffs would cost American citizens $3.1 trillion over the next decade. Industry insiders in the supply chain also believe that the tariffs have revived people's fears of "empty shelves" during the pandemic. The strategies of creating chaos and confusion promoted by Trump since he took office have made Americans even more concerned about the future economic outlook.

"I've always been happy that China can provide us with goods at such low prices," said an ordinary American citizen regarding the additional tariffs imposed by Trump on China. He believes that China is being unfairly targeted without fault. Some elderly people are so angry they "shake all over," and even worry about how younger generations should cope with the current crisis.

Previously, China pointed out that continuing to politicize economic and trade issues and adding more tariffs on China was wrong, which would significantly increase import costs, cause greater losses for American businesses and consumers, and force American consumers to pay higher prices. While Trump continued to provoke trade disputes, China warned that if the US ignored the interests of both countries and the international community and insisted on starting a tariff war or trade war, China would definitely see it through to the end.

In recent days, many American consumers have rushed to stockpile daily necessities. A 53-year-old Thomas Jennings (Thomas Jennings) pushed a shopping cart full of juice, condiments, and anything else he could think of while shopping at Walmart.

"I bought everything double — beans, canned food, flour, you name it," he said. His strategy was to stock up as much as possible before the latest round of import tariffs by the Trump administration took effect on April 9. Earlier, Jennings had also bought large quantities of flour, sugar, and water at Costco. "A recession is coming, and I'm preparing for the worst," he said.

Like many other American shoppers, Jennings believes that due to Trump's tariff policies, retail prices in the US will soon rise. The nonpartisan nonprofit research institute Tax Foundation estimates that Trump's new tariffs will cost Americans $3.1 trillion over the next decade — household tax burdens will average an additional $2,100 per year in 2025 alone.

Although most consumers remain观望, some interviewees told Reuters that they worry any panic could trigger a buying spree, and under the expectation of worsening inflation, this behavior might further intensify.

Manish Kapoor, founder of a supply chain management company GCG in Los Angeles, said that the new US tariff policy has reignited people's fears of the "empty shelves" during the pandemic when supply chain disruptions led to shortages and inflation. "We saw this during the pandemic as well; everyone went crazy grabbing everything from store shelves, whether they needed it or not," Kapoor said. "It hasn't reached that level yet, but people are worried about rising costs, so they're thinking about hoarding."

55-year-old Angelo Barrio, a retired professional in the fashion industry, said that Trump's strategy of "stirring the pot and creating chaos" has made him and his friends worried about the future economic outlook. Since November last year, Barrio has been stockpiling long-shelf-life items because he worries retailers will pass the tariff costs onto consumers. This week, he stocked up on toothpaste, soap, water, and rice at Costco, filling six storage boxes already filled with cans in his temperature-controlled basement. At Walmart, he grabbed two bottles of olive oil, bringing his total stockpile to 20 bottles. "You can never be sure how much you'll need," he said.

Regarding Trump's insistence on imposing additional tariffs on China, Barrio also finds it absurd. "They are being punished for no reason," he said. "I've always been happy that China can provide us with goods at such low prices."

When discussing the impact of Trump's tariffs on the elderly population, Maggie Collins (Maggie Collins), in her 60s, said she was so angry she "shook all over" and bought many daily necessities. "Because I live on fixed income, I compare all prices carefully," she said, who works as a nursing home caregiver. "Spending more somewhere means saving elsewhere in the budget."

Collins recently found that the price of the 1.36-kilogram ground beef she usually buys had risen to $16, forcing her to choose cheaper meat priced at $8. She couldn't help worrying about how young generations should cope with such crises, "they are just entering a world where survival has become so difficult."

Nick Chuenchit, general manager of a Subaru dealership in Longmont, Colorado, said that business volume there has surged in recent weeks. He is unsure how many customers are concerned about the 25% tariff on imported cars taking effect on April 3. "Customers are discussing tariffs and asking us questions," Chuenchit said. "Some customers who planned to buy cars earlier moved up their purchase plans due to rumors about tariffs."

Recalling the car sales experiences during the 2008 financial crisis and the pandemic, Chuenchit said that demand for car purchases always exists, and despite tariffs, people still buy cars, though unfortunately, consumers have to spend more money.

Recently, New York residents rushed to buy the last Chinese brand Hisense TV at a local store. Wall Street Journal

On April 2 local time, Trump intensified his use of the "tariff stick" and announced a "minimum benchmark tariff" of 10% on trading partners, imposing higher tariffs on certain partners, including a "reciprocal tariff" rate of 34% on China. This move not only casts a shadow over the world economy but will also severely hurt the US economy.

The Wall Street Journal reported on April 3 that Americans were already nervous before Trump announced the tariff hikes. Billionaire Mark Cuban reminded his followers on social media to start stocking up. "From toothpaste to soap, anything that can be stored should be bought early, preferably before stores restock." He emphasized that even American-made products might rise in price, "and they will blame the tariffs."

Noel Peguero (Noel Peguero), a 50-year-old New Yorker, immediately took action after hearing the news about the tariffs. From the evening of April 2 to the morning of April 3, he spent $3,000 buying electronics, automotive parts, gardening tools, and other household items. "Now is the time for big purchases," Peguero said as he loaded the last 40-inch Hisense TV in the store into the trunk of his car.

On April 6 local time, Goldman Sachs predicted in a report that the probability of a US economic recession had been raised from 35% to 45%. Reuters noted that this was the second time in a week that Goldman Sachs had raised this prediction indicator, and more investment banks and institutions were making similar predictions due to the escalating global trade war caused by the Trump administration, with JPMorgan's probability reaching 60%.

This article is an exclusive contribution from Observer Network and cannot be reprinted without permission.

Original source: https://www.toutiao.com/article/7490950941865296438/

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