Since President・Elect Donald Trump was declared the winner of the 2024 election, the Internet has been a little less interested in contrast-making theory and a little more clinging to economic policy. Specifically, universal tariffs on imported goods have been touted as the main agenda for Trump's 2nd term in office.

Trump's proposed tariffs — between 10 and 20 percent for all imports and up to 60 percent for goods from China — first bubbled up on the campaign trail without much fanfare. But in the last days before the election and immediately after that, from panicked fashion obsessions and corner-office CEOs to the everyday average citizen, the alarm bells went off: Some people misinterpret tariffs as taxes paid by other countries, but they are actually being charged to companies that promote their products. And U.S. consumers buy a lot of products from abroad. So to foot the potential tariff bill, brands are expected to raise the price we all pay at online checkout and IRL cashiers. The situation has all the makings for retail calculations: to where our clothes are made and to what we choose to buy. "I'm really interested in what happens when a society that buys everything from Amazon, Walmart and Temu realizes what a 60% tariff on Chinese products looks like."

is on the verge of far more than sticker shock. As fashion journalist Amy Odell wrote in her newsletter Back Row, "Rising prices can have a series of consequences for consumers who buy clothes, and it can have a negative impact on the fashion industry in many ways. Meanwhile, lobbyists and brands are looking for loopholes, and experts are drawing on what the 2025 tariffs mean for all of our closets. Instead of bringing your Economics 101 textbook out of storage, read for a breakdown of exactly what tariffs can entail during the second Trump presidency-and how they affect your shopping habits.

This is the first question in every man's mind. Searches for "tariffs" and "Trump's tariff Plan" have spiked a total of 6,150 percent in the days after the US election, while searches for "who pays tariffs" are up 350 percent.

In the most basic definition, a tariff is a tax imposed by the government on imported or exported goods paid by the company moving the product. Import duties on clothing, appliances, technology, and other retail categories are most common in the United States. They are often implemented to encourage domestic manufacturing and job growth. In fashion, it means more products with the "MADE in THE USA" tag.

However, whether talking trendy sneakers or tote bags, products that are made from materials procured, assembled and shipped from a single location are often used by companies to restructure their entire business, reducing internal costs or raising prices that appear in malls (or online). Even higher

President-Elect Trump has made several tariff promises on his way back to the White House. First, that all goods imported into the United States are subject to tariffs of 10-20 percent. Second, a 60% tariff will be applied to all imports from China. And thirdly, all goods imported from Mexico will be hit with tariffs of 25% (or more). He positioned the policy as a way to raise money for the federal government and a tactic to retaliate against other countries. "Other countries are finally trying to repay us for everything we have done for the world, 75 years later," President Trump said onstage during a debate with Kamala Harris on May 9.

It has not been announced exactly when and how potential tariffs will be implemented. "The vision is there, but the game plan is not," a source involved in the Trump administration's economic policy told CNN.

There are a lot of spring 2025 trends looking forward to next year, but if tariffs come into effect, the barriers to joining them will be even higher. So shopping for basic necessities across clothing, furniture, appliances, and more.

A study by the National Retail Federation found that the proposed tariffs could reduce Americans' purchasing power by up to7780 billion annually. The study suggests that the costs that retailers need to absorb are too high to pay alone, so the prices seen in stores will rise.

Brands whose products are made in China are most likely to raise prices because they will be hit with the highest proposed tariff (60%). "Tariffs are essentially taxes levied when goods cross the borders of other countries, so retailers importing goods from China will be more severely affected," said Shawn Grain Carter, Associate Professor of business management at FIT.

"Made in China" covers almost every corner of the closet, from cotton dresses and T-shirts to running shoes and even designer bags. "China has become a dominant player in fashion manufacturing in most fashion categories since it was accepted by the WTO (World Trade Organization) in 2001," explains Professor Grain Carter. "According to "Good On You", 65% of the world's fashion is produced in China.

Even middle-class fashion and affordable brands should be prepared to feel more out of reach. Professor Grain Carter noted that fast fashion is a very price-sensitive category, and "As a result, Zara, H&M, etc. must decide the best way to absorb these tariffs

Of course, fashion can make internal cost savings to avoid price increases." However, something else can be sacrificed to preserve, such as the quality of the fabric, the gloss of the finish, or the package that arrives at the doorway.

In the long run, prices could stabilize as retailers consider rebuilding their supply chains. "Obviously, sourcing goods in other countries can be cheaper as a result," says Professor Carter. "This would also increase the competitiveness of the manufacturing industry among multiple players, which in turn could stabilize retail prices for consumers."

Even used Birkin bags and previously beloved Goyard tote are not safe from the effects of tariffs. The US used luxury market also stands to shift from policies targeting brand new goods starting with more price increases.

"Secondary market prices will rise and fall in line with the prices of key markets," said Sarah Davis, founder and president of Fashionphile. "So, when brands that import into the United States face tariffs on those goods, they often raise retail prices in a straight line, which means that resale prices also rise.Retail and resale prices are indirectly interconnected.

Some luxury resellers get their collections of used Lady Dior and Louis Vuitton Neverfulls wholesale from the Asian secondary market, Davis notes. If vintage gems are procured abroad, they would be suseptible to an even higher price. "Import duties on these goods mean higher acquisition costs for U.S. resellers, and if they want to maintain their profit margins, they will be forced to pass that increase on to their customers," she explains.

If you need a bag in 2025 at a price close to the 2024 rate, consider companies that procure it directly from customers or peer-to-peer platforms. These could be exempt from the same headwinds that the rest of the market is facing. "The fact that luxury brands may have to significantly raise prices in their stores and department stores is a sign of the need for more affordable channels like resale."" "Consumers have already been vocal in their frustration at the rise in prices that we have seen in the luxury sector over the past few years. Higher prices and limited availability can lead to breaking points for some consumers seeking refuge in a softer pricing alternative to resale.

Whether your wish list is filled with the best designer tote bags or luxurious gifts or just a nice T-shirt that Amazon has to offer, it's now time to hit the 'order'. While there is still uncertainty as to whether the President・elect will comply with the tariffs he promised, declaring "tariffs" as "the most beautiful word in the dictionary" is certainly still the case, experts' insights and statements from Donald Trump's camp suggest that, in addition to new economic policies underway, 2025 will see higher prices or lower product quality (or both). It shows that you are more likely to arrive at the airport in the next few days.