American consumers panic buying, billionaire Cuban issues warning

Due to concerns about a significant increase in prices, some American consumers have started hoarding goods. According to CCTV News, on April 2nd, local time in the eastern United States, the US announced the imposition of so-called "equivalent tariffs" on all trading partners. Due to concerns about soaring prices, some American consumers have already started hoarding goods. CCTV News reported that on the afternoon of April 2nd, prominent American investor and billionaire Mark Cuban wrote on social media, "It's time to start hoarding. From toothpaste to soap, anything that can be stored should be bought as soon as possible, preferably before stores restock." Cuban said that even American-made goods could increase in price, and "they will blame it on the tariffs". In supermarkets and electronics retail stores, some consumers seem to have taken Cuban's advice, pushing carts full of goods through the parking lots, trying to hoard as much as possible before prices rise. According to a report in Observer Network citing The Wall Street Journal on April 3rd, 50-year-old New Yorker Noel Peguero took action immediately upon hearing about the tariffs. From the evening of the 2nd to the morning of the 3rd, he had already spent $3000 on electronics, auto parts, gardening tools, and other household items. "Now is the time to make big purchases," Peguero said as he loaded a 40-inch TV from the Chinese brand Hisense into his car. The report also mentioned that 29-year-old stay-at-home mom Andrea Sanabria is also preparing for an uncertain future. She purchased many common items and plans to freeze some food items to preserve them longer. With only her husband's income to support the family, she has to budget carefully. Similar panic-buying scenes are happening frequently across the United States. The report stated that even before Trump announced large-scale tariff measures, "Americans were already anxious and uneasy"! According to analysis from the Yale University Budget Lab, the tariff policies announced by the new US government could lead to a 2.3% increase in overall inflation rate in the US this year, including a 2.8% increase in food prices and an 8.4% increase in car prices, equivalent to a $3800 loss for every typical American household each year. It is worth noting that tariffs not only have a significant impact on household purchasing decisions but also have an impact on business production decisions. A translated article from the British Broadcasting Corporation (BBC) mentioned on the China Youth News app stated that in California, USA, when Dina Ghazarian started her business, Austere, specializing in high-end audio and video accessories, she faced difficulties due to former President Trump's trade policies. Her company's accessories are primarily produced in China for several large retailers. As Trump imposed high tariffs on Chinese products, Dina suddenly found herself having to pay a 25% tax on each imported part. The additional costs pushed her company to the brink of bankruptcy. "At that time, I thought my company would go from opening to bankruptcy in just one year. I had invested so much time, money, and effort into running the company, only to be blindsided by this." she told the BBC. This article was republished from "Jiemian News", reporter: Xinyuan; GMTEight editor: Huang Xiaodong.