In the days after the election, I found myself doing some strange Googling. Mostly it was low-grade curiosity about financial consequences of Donald Trump’s win – specifically, if there was anything i could do to prepare for him to impose heavy tariffs on goods imported into the United States. I weighed short whether to buy a car. Not that I actually lack a car when he lived in New York City. But what if this is my last chance before prices go up? A news story about a potential increase in iPhone prices made me realize that I had no idea when I last replaced mine. And while I’m not much of a shopper, I was wondering if I should buy a new pair of shoes.

I am not alone in this mild bout of customs terror. Over the past month, “things to buy before tariffs” has become a breakthrough search on Google, and there are plenty of talk about that on Redditalso. Anecdotally, I’ve found that “what to do before tariffs” keeps coming up in conversation—friends were worried about duty-free inflation at a Friendsgiving celebration in early November, and my mom mentioned that her decision to finally buy a new car was partly triggered by concerns that inflation will return under Trump. Companies are already talking about raising prices in anticipation of the new administration. The other day I got one email marketing from Jolie, which makes filtered showerheads, with an “important message” about tariffs. “If you’re thinking about buying a Jolie,” the email said, “now is a good time to lock in our current prices.” The implication was clear: Buy now, before any tariffs come into effect. I didn’t expect a TikTok-popular showerhead company to raise my blood pressure over prices, but here we are.

It is unclear whether Trump will follow through on his campaign promises to impose a 60 percent tariff on goods from China and 10 to 20 percent tariffs on imports from everywhere else. And even if he does, it’s not clear whether they will fuel inflation, as many economists have warned. (Yale Budget Lab estimates (that Trump’s tariffs, as proposed, would push prices up by as much as 5.1%, costing households an extra $7,600 a year.)

Everyone is trying to protect themselves. They are trying to figure out what to do. And frankly, no one knows.

“We don’t know the nature, size or timing of these tariffs,” said Greg Daco, chief economist at EY-Parthenon. “So we don’t necessarily know the effects of the potential shocks on the economy.”

But what is What’s clear is that American consumers and businesses are already freaking out over tariffs. “Everybody’s just in a state of anxiety and scratching their heads,” said Mary Lovely, a senior fellow at the Peterson Institute, an economic think tank. “Everybody’s trying to protect themselves. They’re trying to figure out what to do. And frankly, nobody knows.”

Let’s start with how companies plan for tariffs. For companies that import products or components from abroad, tariffs would be “the least surprising train wreck ever,” said Ernie Tedeschi, chief economist at the Yale Budget Lab, who previously worked for the Biden administration. “For companies that can divert their supply chains in a way that minimizes tariffs, they’re certainly already thinking about that.” Fashion brand Steve Madden, for example, said in its latest earnings call that it would cut back on purchases from China — a scenario it has been anticipating for quite some time.

Paul Brashier, vice president of global supply chain for ITS Logistics, has been working with customers on tariff-related contingency plans since the beginning of the year. Thanks to the muscle memory from the tariffs Trump imposed in 2018, he says, many companies are speeding up their shipping schedules — racing to get as many goods into the country as possible before any new tariffs are implemented.

“Shippers realized the tariffs were coming in, and they all started shipping heavy to get ahead of those tariffs,” Brashier tells me. That rush, in turn, pushes up prices for shipping containers, causes congestion at ports and increases the cost of inland transportation and storage. In other words fear of the tariffs can drive up prices before a single tariff is actually in place. Shipping costs, Brashier says, “will be your first canary in the coal mine.”

But there’s only so much preparedness companies can do. If you’re thinking of moving production out of China, say, it’s hard to know where to go. Vietnam may look good, but what if Vietnam is also hit with tariffs? “It’s one thing to say we’re trying to get you to move out of China,” said Stephen Lamar, CEO of the American Apparel and Footwear Association, a trade association. “But what does trade policy say about where you should move?”

Small businesses have few options. Mike Brey, the owner of Hobby Works, saw bags he sources from China hit by tariffs during Trump’s first term. But while small businesses have a reputation for being nimble, that’s not true on the import side. “We can’t easily pack up and move to Mexico,” Brey says. “It’s harder for a small company to move their manufacturing elsewhere, especially when they’re competing against larger companies for the same manufacturing time.” Because of the obstacles, they did not move production from China, but instead absorbed the increased costs before passing it on to customers.

Whether tariffs drive up costs or not, experts say companies are likely to use them as an excuse to raise prices. “That’s something we saw during this inflationary period,” said Lindsay Owens, executive director of the Groundwork Collaborative, a progressive think tank. “It contributes to this kind of vicious circle in terms of prices for Americans and a virtuous circle in terms of profits for businesses.” In 2018, when Trump imposed tariffs on washing machines, they became more expensive. So did tumble dryerseven if they were not subject to tariffs – companies believed that customers would assume that two related products were subject to the same inflationary forces.

If the cost of imports goes up, companies whose products are American-made are also likely to get in on the price hike. “It’s like a Christmas present,” says Tedeschi. “They have this windfall in their lap. They say, ‘Wait, you’re telling me my competitors are now being forced to raise their prices by 20%?’ Well, I’m going to increase my prices by 19% and I still have competitive advantage, but now I have 19% of the net profit that I can just add. I think that’s where it’s really going to sting for consumers.”

So how can consumers prepare for the tariffs? The economists I spoke to did not have many concrete answers. However, they did have some suggestions for what consumers can keep an eye on. Many items, including clothing, electronics, furniture and cars, expected to be more expensive when Trump’s proposed tariffs take effect. And we’re likely to get a heads-up, since tariffs often require a comment period, so consumers who keep up with the news will have an opportunity to get ahead of big price increases.

“If they can speed up big purchases that they know they’re going to make, they should do it,” said Lovely, a senior fellow at the Peterson Institute. “So if you know you’re going to have to buy a new laptop or you’re going to have to buy a new Apple Watch, those are things that haven’t been taxed at all yet.”

Tedeschi says consumers can do research now on the sources of any big purchase they’re planning. But he emphasizes that just because something is made in the US doesn’t mean all parts are. “Even your Ford F-150 has a lot of imported parts,” he says. “So you won’t completely avoid duties by buying a domestic car.”

Some consumers are already getting a jump on big purchases. On Reddit, one person said they plan to buy some new tires sooner rather than later, and maybe get an extra phone. Others mentioned getting new laptops and computers, predicted that Temu and Shein’s products would become more expensive, and even considered starting a garden in case food prices rise.

It’s just wave after wave of uncertainty.

So if Trump ends up imposing tariffs, when can consumers expect to see price increases? Brey, Hobby Works owner, says it won’t take long. “Increased tariffs are passed on to the consumer really, really quickly – like a manufacturing cycle away,” he says. “That’s it — three to six months tops.”

Daco, chief economist at EY-Parthenon, predicts that higher prices won’t kick in until late 2025 or early 2026. But he cautions against trying to make too many anticipatory purchases. “You should consider the possibility that the price of these items could increase,” he says. “But you can’t time policy – it’s impossible.”

The truth is that we are entering one period of unpredictability and upheaval. Savvy consumers can be on the lookout for tariff announcements, shipping price increases and company earnings call comments about their pricing and purchasing plans. But if Trump follows through on his promise to impose tariffs across the board, there may be nowhere to hide.

“What do consumers and small businesses hate more than anything else? It’s uncertainty,” says Brey. “And in this case, it’s just wave after wave of uncertainty.”

Emily Stewart is a senior correspondent at Business Insider and writes about business and economics.

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