ATLANTA — With tariff tensions elevated, the stock market is experiencing a downturn.
A financial analyst from metro Atlanta informed Channel 2′s Courtney Francisco about when local prices might start to rise.
Consumers in metro Atlanta are keeping a close eye on the situation.
“I’m quite concerned. These tariffs are only going to exacerbate the issue,” said shopper Megan Wartell.
Tucker Balch, a finance professor at Emory University, stated that the tariff policy from the Trump administration results in higher costs for domestic distributors sourcing international products.
“The aim is to bring a significant number of manufacturing jobs back to the U.S. I believe that will happen, but the benefits won’t be apparent for another year or two,” Balch noted.
He mentioned that consumers will start noticing increased prices as stores restock products.
“Our groceries can’t stay on the shelf for a full month,” Balch explained. “So they’ll notice the price increases in grocery stores first?” Francisco inquired. “Exactly,” Balch confirmed.
Subsequently, clothing, appliances, and electronics will see similar price hikes.
“In my own household, my son’s phone broke, and we plan to purchase a new iPhone before prices rise,” Balch shared. “Who knows, within the next few weeks, we may see the iPhone’s price surge by as much as 50%.”
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He noted that this uncertainty has contributed to a decline in the stock market.
“The last significant turbulence we saw was at the onset of COVID,” he remarked.
Balch emphasized that families should evaluate their 401K plans this week.
“For younger individuals with many working years ahead, it could be wise to remain invested in the stock market,” Balch advised. “I have shifted all my investments into cash or bonds. While the stock market is ideal for long-term growth, I prefer to wait until things stabilize before re-entering.”
He mentioned that certain products, like computer chips, lumber, copper, gold, silver, and pharmaceuticals, are exempt from these changes.
Balch explained that sales tax revenues will fund the treasury and help balance Trump’s tax reduction plan for corporations.
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