Some New Yorkers say they are bracing for price hikes and rethinking how they shop as a sweeping new round of tariffs announced by President Donald Trump took effect over the weekend.

The baseline 10% tariff applies to nearly all U.S. trading partners and is expected to ripple through the global economy — affecting consumer goods, groceries, electronics, automobiles and services.

“You have to make certain decisions, to pay this, to pay that, do I get this item, do I get that?” said Milik Kashad, a shopper heading into Whole Foods. “Everything is going up.”

Retailers say they are already dealing with higher prices due to imported products and supply chains that rely heavily on international trade. Some shoppers are adjusting their spending, with worries that global trade tensions may lead to even steeper costs.

“These tariffs are unfortunate for everyone,” said Jibril Die, who expressed concern about what he called a new era for the global economy.

“Buying new computers, these things are going to cost way way way more, do I think about buying that currently? No,” Die added.

Several shoppers told NY1 the trade wars are playing a role in whether they follow through on purchases like the upcoming Nintendo Switch 2 console, expected to be released this summer.

“All the people who were excited about getting these electronics, will have to really think, well do I really need it, it’s a want versus a need now,” said Die. “We have to prioritize that more than anything.”

The tariffs announcement triggered the biggest drop in the stock market since the start of the COVID-19 pandemic in 2020.

President Trump addressed the market reaction on Truth Social Saturday, calling the volatility “an economic revolution,” and wrote, “Hang tough, it won’t be easy, but the end result will be historic.”

With more tariffs on imports from China, India and Vietnam set to begin Wednesday, some consumers are rushing to buy big-ticket items, while others are pulling back on spending.

“I think it’s more of these luxury items that people are really probably stocking up on, pre-tariff goods, because unless you have that money saved up and planned for a new big-ticket item, I don’t think a lot of people are going to be doing that,” said Shawn Lovejoy, who spoke to NY1 outside a Best Buy.