Chicago-area consumers stock up on groceries as inflation expected to ramp up due to Trump's tariffs

CHICAGO (WLS) -- Americans bracing for President Donald Trump's sweeping news tariffs and the price hikes that are expected to come to all industries.

ABC7 saw customers at a Chicago-area fresh market stocking up their carts Friday, saying they hope this won't last for long.

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There continues to be uncertainty with President Trump's tariff plan as Americans are worried about the increased cost of living that is expected to come.

Customers at Living Fresh Market in Forest Park were grabbing all the everyday goods they could get before prices start to rise, and the store is getting ready too.

"How can you prepare just gotta live the best way you can," Bellwood resident Brenda Flagg said "Live by your means, don't go overboard, and that's it."

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"Here at Living Fresh, we offer our super Tuesdays, which is 15% off everything in the basket, and also it gives us an opportunity to go local and get some more local," Living Fresh Market assistant director Curtis West said.

While many everyday products are now expected to cost more, people are worried about how long it will last.

Helen O'Neill is visiting the Chicago area from Ireland and said she understands other countries need to pay a fair share, but she doesn't believe this is the way to do it.

"I don't believe in tariffs because I think it just bumps up everything," O'Neill said. "I worry about people's 401Ks. What's gonna happen to them? How much are they going to lose, because the cost of living is going to be much higher, and you won't be able to put much aside."

Those are the same concerns shared by many economic experts, including Professor Steven Durlauf from the University of Chicago. He said the way the tariffs have been rolled out has caused even more disruption to the American economy.

"We've had tariffs proposed, tariffs declared, tariffs withdrawn," Durlauf said. "All of this uncertainty is harmful to the economy... all of that damages the system, because the ability of countries to trust each other is predicated on clarity of thinking and steadiness of purpose."

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Meanwhile, President Trump is standing by his plan, saying this will lead to long term success. On Friday, the President posted on truth social, saying "To the many investors coming into the United states and investing massive amounts of money, my policies will never change. This is a great time to get rich, richer than ever before."

Secretary of State Marco Rubio echoed that sentiment, telling Americans to stay patient as the economy makes this transition.

"The markets will adjust," Rubio said. "Businesses around the world, including in trade and global trade, they just need to know what the rules are. Once they know what the rules are, they will adjust to those rules."

Prices are still manageable for now at local grocery stores as the universal 10% tariffs to go into effect at midnight Friday into Saturday, and then the reciprocal tariffs will go into effect on the morning of April 9.