Tariff conflicts are expected to raise prices for iPhones, coffee, apparel, and booze

The United States’ trade war, which began with infinite tariffs, threatens to cause price increases in the country, and residents will most likely have to pay more for an iPhone and brand-name clothing, as well as when going to the store to buy coffee, beer, chocolate, or seafood.

A prolonged trade war between the United States and China, which stated today that it will hike tariffs on the United States to 84% in retaliation for Trump’s 104% tax, could be very costly and have an impact on the global economy, according to economists.

According to the Office of the United States Trade Representative, the US sold $143.5 billion in commodities to China and purchased $438.9 billion in items from the Asian powerhouse, making China the second largest source of US imports behind Mexico.

Apple, the US computer behemoth, relies largely on contract manufacturing from businesses such as Foxconn, an iPhone maker in Zhengzhou, China, with 300,000 employees.

Nike manufactures 28% of its products in Vietnam, 16% in China, and 15% in Cambodia, according to an SEC filing.

According to the National Oceanic and Atmospheric Administration, the United States imports up to 85% of its fish and seafood from Chile, India, Indonesia, and Vietnam, making seafood particularly vulnerable.

Americans appear to be stockpiling imported items, as seen by Apple stores being «flooded» with panic buyers, according to Bloomberg, or increased sales volume in «non-perishable» groceries following the tariff announcement, according to recent Consumer Edge data.