MW Some Americans are stockpiling $220 sneakers before Trump's tariffs raise prices even higher

By Weston Blasi

'I'm definitely purchasing with tariffs in mind,' one shopper tells MarketWatch amid the ongoing uncertainty around President Trump's wide-ranging tariffs

When President Donald Trump revealed his "liberation day" tariffs in April, Trey Yates rushed out and bought a pair of $140 ASICS GT-2000 13 sneakers, along with three new shirts.

"I knew I needed to get my purchases out of the way to replace some worn clothes and shoes ASAP" before the tariffs went into effect, Yates, a 34-year-old video editor living in Texas, told MarketWatch. Once he got home, "I looked at the tags and labels, and they were made in Indonesia. Indonesia is looking to get a 32% tariff rate slapped onto them, so I'm glad I went ahead and bought the shoes," Yates said.

He's not alone. Several people told MarketWatch that they were panic-buying sneakers ahead of Trump's on-again, off-again tariffs, trying to stay a step ahead before prices potentially jump.

And at least one financial institution said such behavior is showing up in its numbers: JPMorgan Chase$(JPM)$ executives said during its latest earnings call that they see evidence of people spending now to stockpile products before tariffs change prices. This consumer behavior - making purchases earlier than they would have otherwise - is also known as "pulling forward."

See: Here's where Trump's trade deals with China, Europe, Japan and other countries stand

Footwear falls squarely in the tariff crossfire, as 97% of shoes and clothing that Americans wear are manufactured internationally in countries including Vietnam, China and Indonesia. The revenue for the global sneaker industry alone is valued at just under $90 billion, according to Statista, with the U.S. market making up about one-third of that.

Even though Trump announced a 90-day pause on nearly all country-specific tariffs on Wednesday, while keeping a flat 10% universal tariff rate in place, there is still plenty of uncertainty surrounding what will come next, and whether any of these countries will be able to strike trade deals with the Trump administration before the deadline. Plus, China remains an exception to the pause and still faces a tariff rate of 145%, while Mexico and Canada will also continue to face 25% tariffs. The S&P 500 SPX soared nearly 10% off the tariff pause on Wednesday, before falling sharply on Thursday.

An analysis from trade group Footwear Distributors and Retailers of America shows just how vulnerable shoes can be to tariffs. Work boots made in China that retail for $77 now would go up to $115 if Trump's "liberation day" tariffs remain in place, while customers would pay $220 for running shoes made in Vietnam - a big step up from the current $155 price tag. Consumer costs depend on a variety of factors, including which country they were made in and how much retailers are willing to absorb some of the cost changes.

All of that is to say: Many people who were already in the market for products like sneakers told MarketWatch they are deciding to go ahead and buy them now. Nearly all shoppers or soon-to-be buyers said they always planned to get shoes at some point in the medium-term future. But the recent price uncertainty around products in general, including footwear, has accelerated their timeline.

See: Parents are 'hunkering down financially' to brace for Trump tariff impact

One of those buyers is Patchoulio Iglesias, 32, a retail manager in New York City and self-described "sneakerhead" with over 100 pairs of shoes. While nearly all of those sneakers have been part of his collection for a while, he had been thinking about getting some more new shoes. He just secured a $220 pair of Aimé Leon Dore x New Balance 993s this week, which he shared on social media with the caption "thankful for the preorder before tariffs hit."

"The rest of the year I'm done with shoes, because the price doesn't justify it anymore," he told MarketWatch. "I'm good until this dies down."

That urgency to buy now before tariffs drive up prices was also shared by Gregory Landrum, 37, who works at a drug-rehabilitation facility in Detroit. He hasn't gotten any new shoes yet, but he is going shopping for multiple pairs this weekend - if he can find good prices.

"I'll wind up getting some Nike Air Force 1s and Nike Dunk Lows," Landrum told MarketWatch. Those shoes go for around $115 and $120, respectively.

"I'm definitely purchasing with tariffs in mind, because I already don't like paying more than $115 for a pair of shoes that almost everybody wears on the regular," he said. "I'm not paying $200-plus for any shoe unless it's high-end luxury with premium materials."

He added that he might even buy more pairs than that if he sees good deals, partly due to the uncertainty of future shoe prices.

"Stocking up now and paying $275-ish for three more [pairs of] shoes is a win, rather than paying $200 for one pair once the tariffs come into play," Landrum said.

'I'm definitely purchasing with tariffs in mind.'

Joel Burke, a runner and author based in Washington, D.C., is another person who said he bought running shoes recently to try locking in a good deal.

It's not uncommon for runners to buy multiple pairs of the same shoe at a time, so they can rotate them if they are training for a long-distance race like a marathon, or to stock up on a beloved style. Avid runners tend to be picky about comfort and fit, and finding a pair that aligns with their running style and their body's specific needs can be tough. So they'll often buy a pair to wear regularly, and then stash a backup or two away for when that pair gets worn out.

"Soon after the tariff announcement, I bought a pair of Brooks running shoes. I had planned to get a new pair anyways, but moved up the purchase in case prices rose," Burke said. And he didn't just stock up on shoes; he also got a new Apple $(AAPL)$ iPhone, too, over those same tariff fears.

See: Americans are 'doom buying' coffee, olive oil and soap. What's the one thing I should stockpile to avoid tariff price hikes?

But should shoppers be stockpiling sneakers? While most of Trump's tariffs are now on pause, Steve Lamar, president and chief executive of the American Apparel & Footwear Association, told MarketWatch in a statement that there is still cause for concern over the China tariffs right now.

"If left in place, this extreme tariff on U.S. imports from China, which is in addition to President Trump's Section 301 tariffs, will lead to higher prices for everyday apparel, footwear and accessories, and higher costs for U.S. manufacturers who rely on materials and items they can only source from China," Lamar said.

And while many large manufacturers like Nike $(NKE)$, Adidas (ADDYY) (XE:ADS) and Under Armour $(UAA)$ have not had quarterly earnings since Trump's April 2 tariff announcement, many are keeping a wary eye on them. Nike, for example, only made a few mentions of tariffs during its March earnings call - but Chief Financial Officer Matthew Friend did say that new tariffs, geopolitical drama and a tougher foreign-exchange environment have created uncertainty for the company.

And Adidas CEO Bjørn Gulden said during his company's March earnings call that it's "not aware of what will happen in the retailer market should this tariff thing start to move left and right, because it's obvious that that will make the retail market in the U.S. go down when it gets to volumes."

See: Yes, egg prices are up 60% - but these 10 things are actually cheaper now than last year

So some retail experts agree that it makes sense to make purchases like this now if you're worried about companies passing higher prices on to you amid the ongoing trade war.

"There is no downside to it, if you have the capital," said Brian Marks, a senior lecturer at the Department of Economics & Business Analytics at the University of New Haven. "It's price certainty."

Price increases related to the tariffs aren't the only concern - there are also supply-chain issues to consider. If more people rush to stores to buy shoes, and the supply can't meet demand, then retailers could raise prices anyway. Plus, "if retailers don't raise prices, they could run out of inventory," Marks noted.

Marks said it might be okay to get an extra pair of shoes or maybe even two, but he cautioned shoppers not to go too crazy or go into debt with these purchases. That's because there is so much uncertainty with the economy amid the trade war that spending what you can't really afford, just to save a little money on extra shoes you don't need right now, might not be a smart decision in the long run if the economic environment turns even more sour.

"People need to know if they can afford to do something like buy three pairs of shoes," he said. "The uncertainty over the economy, and needing cash during periods of job loss, could outweigh the $40 or so you save by buying shoes ahead of tariffs."

-Weston Blasi

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April 19, 2025 12:03 ET (16:03 GMT)

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