Experts predict that President Donald Trump’s Liberation Day tariffs will have a major impact on the cost of running schools — and they’re also expected to make basic school supplies more expensive. Rising costs could impact your wallet, so it’s a good idea to know what to prepare for.
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Experts also provided some tips on how to provide your kids with everything they need to succeed in school without breaking the bank.
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Laptops Could Be Pricier
Many school districts aim for every student to have a personal laptop or tablet for taking notes, doing homework and carrying out research. However, the tariffs are set to make that more expensive, along with other personal electronics.
Most laptops and smartphones used in the United States are imported from China. Until recently, there were no tariffs on those items, so consumers are used to paying relatively low prices. When tariffs go into effect, students and their parents could experience major sticker shock.
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Brown Bag Lunches Could Cost More
The cost of packing lunches could go up, depending on what you put in your kids’ lunchboxes. Experts say tariffs will lead to higher prices on fruit, cheese, nuts and candy bars because those items tend to be imported. You can expect a 4% increase on fresh produce, on average, and a 2.8% increase on your overall grocery bill.
School Books Could Put a Dent in Your Wallet
The cost of buying textbooks could soar under the new tariffs, experts warn. Paper and ink are usually imported from China and Canada. Rising costs will make it more expensive for publishers to put out books, and those costs will likely be passed on to consumers.
School Construction and Repair Costs Could Increase
The tariffs are expected to raise the cost of building materials imported from China. That includes the steel used in structural beams and wall studs.
Hopefully, U.S. steel producers will be able to increase their production enough to offer schools a more affordable alternative to Chinese steel. Otherwise, it will become much more expensive to build new schools or carry out major school repairs. Those costs could get passed along to American families through higher property taxes.
How To Solve the Problem of High Costs
Families can take steps to minimize the cost of school supplies. Here’s what experts suggested:
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Stockpile key items before the tariffs come into effect to take advantage of relatively low prices. For example, if you know the cost of paper is likely to increase because of tariffs on Canada, buy paper in bulk soon.
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Buy goods from countries not subject to high tariffs. This may not always be possible, but it can be a highly effective way to cut costs. For example, find a new source for electronics instead of buying laptops and smartphones imported from China.
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Look for locally grown foods not subject to tariffs to reduce the cost of school lunches. If possible, try shopping direct from local farmers.
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Ask yourself: Do your kids need a new laptop, or can they manage with their current model? Instead of upgrading automatically, consider how they’ll use a laptop and plan for specific needs. Look into buying last year’s model or taking advantage of discounts on overstocked items.
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This article originally appeared on GOBankingRates.com: 4 Ways Trump’s Tariffs Could Affect School Shopping
