"Prices are set to soar": Americans rush to stockpile in anticipation of Trump's tariffs.

As President-elect Donald Trump prepares to take the oath of office in just over a week, many Americans are attempting to minimize their own financial burden by purchasing foreign-made goods before his proposed tariffs go into effect.

The Guardian reported that U.S. residents who have been planning to buy goods that could be subjected to the tariffs have been acting preemptively to buy what they need before prices surge. The collectively worry among consumers isn't unwarranted, since large retailers like Walmart have already warned that any new tariff duties would be passed along to customers. This has led to Americans planning on making large purchases in the future to quickly revise their timelines.

"My partner is laying in supplies and materials for a new roof we had planned for the spring," West Virginia resident Jen Thomas told the outlet. "While the rush of a second Trump presidency is still exciting for many West Virginians, my partner and I are neither excited nor optimistic about the next four years."

The president-elect has proposed a 25% tariff on imports from Canada and Mexico, and a 10% tariff on all goods imported from China. CBS News reported in November that this could lead to steep price hikes on consumer electronics like smart