People rush to spend amid price hike fears
US President-elect Donald Trump's tariff talk has not only grabbed headlines but also the attention of the Millers, a middle-class couple living in Katy, Texas, a Houston suburb.
They said the news has prompted them to speed up their home improvement plans.
"We previously planned to update our windows to double-pane in the second half of next year so we can take a breather from Christmas spending and replace our old sofa set after that," said Stephanie Miller, a homemaker. "Now, we are shopping for both and want to get them done soon."
Furniture, bedding, toys and other home goods are among the second-largest categories of imports from China, data indicated.
"Trump proposed tariffs all over the place. I have no idea what's going to happen, but I do believe some tariffs will be imposed by him," said George Miller, Stephanie's husband, who is a midlevel manager in an energy company.
He said the consequences of across-the-board tariffs are "obvious to anyone with some basic understanding of (the) economy-inflation, possibly massive, will come with tariffs".
The Millers said they would rather spend the money now before the dollar's purchasing power is diminished.
George Miller said he doubted that tariffs would bring manufacturing back to the United States.
"Even if it does, let's face it, the prices of domestically produced products will have to reflect the cost of investment and higher labor costs here at home," he said. "It can only lead to higher prices."
Lily Zhang, a resident of Tri-Valley in California, rushed to the outlets on Black Friday to fill up her family's wardrobe. "I want to buy at least one whole year of clothes, shoes and accessories for my son and daughter," the mother of two teenagers said, adding that her husband also needs some jackets and sneakers.
Renee Shields, 19, a student majoring in economics at New York University, can also feel the pressure from Trump's threat of more tariffs. "I know that Trump wanted to put in higher tariffs, but that's just going to raise prices of everything and also like complicate a lot of things politically," Shields said.
