President Donald Trump's tariffs are raising many questions about what they mean for Americans' financial plans. The big question is whether to buy tech items now or wait.
Tariffs on China, a major tech manufacturer, as well as other countries, have already prompted price increases from tech companies on imported tech like laptops, TVs and gaming systems. In February, Acer announced that it planned to increase laptop prices by 10% to help offset tariffs. So far this year, Trump has imposed a 20% tariff on imports from China, but now the president has announced a 125% tariff on the country due to China's retaliatory tariffs, a move bound to skyrocket tech prices.
Other "reciprocal tariffs" now have a 90-day pause, but he left in place a universal 10% baseline tariff on imports.
"If there's a 10% tariff on smartphones, that means US-based companies have to pay 10% more to get the products from overseas," said Patti Brennan, a certified financial planner. "That extra 10% has to come from somewhere, and I suspect that most companies are going to pass it along to the consumer -- which is what they've done in the past."
Experts predict that prices on items like iPhones could double this year, and the potential impact of tariffs has already delayed preorders for the Nintendo Switch 2 in the US.
Before the last round of tariffs was implemented, a March CNET survey found that 33% of US adults feel pressured to purchase in anticipation of tariff-related price hikes. And nearly one in five US adults (17%) made a purchase ahead of potential cost increases that could come.
Here's what we learned about how tariffs are changing US adults' buying habits and expert advice on getting the best tech deal in the meantime.
Key takeaways
- US adults feel most pressured to buy electronics, including smartphones, laptops and home appliances, out of fear that tariffs will lead to price increases.
- 38% of shoppers have felt pressure to make purchases before tariffs raise prices.
- One in 10 shoppers made big-ticket purchases late last year or early this year to try to avoid tariff-induced price jumps. Another one in 10 said they're likely to make big purchases sooner rather than later.
- 27% of shoppers are delaying big purchases over $500. On the other hand, 18% are planning to shop sales this year.
Gen Z and millennials are facing more pressure to buy now
Compared to Gen X and boomers, younger generations are feeling more pressure: 48% of Gen Z and 45% of millennials said they felt pressure to make purchases to avoid tariff-related price hikes.
But over 60% of Gen X and boomers haven't felt this same pressure to make purchases. Usha Haley, a professor at the Barton School of Business at Wichita State University, said that younger generations may be more susceptible to peer pressure or the fear of missing out than older generations.
Most US adults are planning ahead for cost surges
Most US adults are making (or planning to make) changes to their budgets to prepare for tariff-related price changes. Consumers are also cutting back on nonessential spending, like dining out and travel (40%), and saving more from each paycheck (19%).
Tariff price hike threats are driving shoppers to buy big-ticket tech sooner than later
Most shoppers who are concerned about tariffs driving up the cost of tech products either planned to purchase ahead of tariffs or purchased electronics late last year or early this year. Smartphones and laptops are at the top of that list.
By the numbers, 48% of US adults plan to buy or have already bought smartphones, and 42% have done the same for laptops. Other top tech items that shoppers are concerned about include home appliances, TVs and smart home devices.
Some US adults are still delaying bigger purchases for now
It doesn't surprise experts that some US adults are delaying big purchases over $500 (27%). Nearly one in five (18%) who plan to make big purchases will take advantage of major sales throughout the year, which could be a big money saver if tariffs drive up prices. Additionally, the survey found that 11% of US adults already made purchases ahead of tariffs late last year and earlier this year to avoid higher prices.
If you're worried about prices going up and already have the money saved, buying items you're planning for now may be best.
"If you think it's going to be more expensive in the future, it would make sense to go ahead and buy it now," said Michael Coon, associate professor of economics at the University of Tampa. "But just like the pandemic showed us with supply and demand constraints, if everybody buys it now, the item becomes more expensive anyway."
If you need to make a big purchase or plan to, you can still save some money. Coon recommends comparing prices to get the best deal. The extra few minutes of comparing retailer offers could save you a few hundred dollars.
Read more: How Much Will iPhone and Other Apple Prices Increase With 'Liberation Day' Tariffs?
Should you buy new tech now or wait?
It's the big question that everyone wants answered -- is it better to spend money on electronics now to avoid potential tariff-induced price jumps?
If you already have funds earmarked for a purchase, then shopping now or during an upcoming shopping event, like a rumored upcoming Amazon sale, could help you save money and offer you peace of mind. But if you don't have the money saved, experts don't recommend financing it.
Brennan agreed, adding that if you have the money to buy a new electronic or tech gadget, go for it -- just make sure you actually need it.
"Don't buy it in anticipation of prices going up, because we don't know what the ultimate outcome is going to be," Brennan said.
Above all, experts say to make sure you shop around to find the best deal on tech.
"You might spend an extra 15 to 20 minutes searching the internet, but you end up saving a couple hundred dollars," said Coon. "It's definitely worth the time to look for the best bargain."
Tips to save money on laptops, TVs and phones
Shopping for new electronics is about timing and knowing the expert strategies to find the best deals. I asked CNET experts about the best deals on laptops, TVs and smartphones to find out when it's best to buy and what we need to know about pricing for newer models coming out this year.
When to score low-priced laptops
Whether you buy a new laptop now or wait depends on your needs and budget, said Josh Goldman, an editor and one of CNET's laptop reviewers.
"Prices certainly aren't going to get better if the US gets involved in a trade war, so if someone needs a new laptop and can afford to buy now, I wouldn't wait and see," said Goldman. "With Easter and spring sales, dads and grads, Memorial Day and back-to-school sales, we are headed into the best time to buy a discounted new laptop outside of Black Friday."
If you don't have enough money saved to buy a new laptop, but you need one, Goldman recommends looking for a refurbished one at a discounted price -- which shouldn't be as affected by tariffs. He recommends Apple, Best Buy, BackMarket and eBay Refurbished for deals on used laptops with guarantees.
Now's the time to buy last year's TV models
If you're in the market for a new TV, David Katzmaier, senior editorial director and a CNET TV reviewer, recommends buying last year's model now. You'll find TVs from 2024 at their lowest price point since retailers are getting rid of last year's inventory.
With 2025 TVs coming out, expect prices to remain high on the newer models until the holidays, Katzmaier said. But if you don't need a TV, there's no need to rush into a purchase.
"TVs last a long time, and if you don't need to buy one now, my advice is to wait until you do," said Katzmaier. "Yes, tariffs could push prices higher later in the year, but whether they'll affect TV prices around sales times -- think Black Friday and later in November and December -- is an open question."
Phone deals are out there, but not as easy to find
Before you buy a new phone, take a step back to assess whether you need one, said Patrick Holland, a CNET editor and smartphone reviewer. Most smartphones typically last between three to five years before you start to have problems. But you may be able to fix some of those hardware issues for less than getting a new phone.
Smartphones typically last a few years and we may not even buy one until we really need a replacement. So it can be tough to know when to buy a new phone -- even without tariffs.
How much the next round of popular smartphones, like the iPhone 17 or the Google Pixel 10, will cost won't be announced until later this year, but those prices aren't as volatile as everyday essentials like groceries, said Holland.
"If your battery doesn't hold a charge like it used to but everything else on your phone is fine, it'd be a lot easier and cheaper to replace the battery than to buy an entirely new phone -- tariffs or not," said Holland.
If you need a new phone, look for deals. Some retailers and carriers offer trade-in offers to swap your old phone for a discount on the new phone. However, Holland pointed out that if you rely on your phone carrier to finance your smartphone upgrade, that can make it even more difficult to find a deal.
Methodology
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,305 adults. Fieldwork was undertaken March 3-5, 2025. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18-plus).