Simeon Wallis on Rising Costs and Smart Financial Moves Amid Trump’s Tariff Plans

March 17, 2025 – GoBankingRates featured insights from Simeon Wallis, Chief Investment Officer at Aprio, in two recent articles analyzing the financial impact of newly implemented tariffs under President Trump. Both articles were also published by MSN, AOL, and Yahoo Finance.

In “6 Bills That Could Skyrocket Under President Trump,” Simeon discussed how tariffs on imports from Mexico, Canada, and China could lead to rising costs for essential goods, including groceries, gas, healthcare, and insurance. “Many fresh fruits, vegetables and meats, such as avocados, tomatoes and beef, are sourced from Mexico, meaning food costs could rise,” he noted. Simeon also highlighted how higher aluminum and steel prices could impact infrastructure and drive up utility and insurance costs. To prepare, he advised consumers to stock up on non-perishable essentials and durable goods before prices climb.

In “Trump’s Auto Tariff Plan: 4 Ways To Save on Car Purchases Now If It Becomes a Reality,” Simeon provided guidance on navigating rising car prices. He recommended that consumers focus on brands with strong domestic manufacturing and lower long-term maintenance costs. “Brands that are considered affordable, already have domestic manufacturing for key models, have lower maintenance costs, and are known for their long lives are best positioned,” he shared. He also warned that if tariffs increase the cost of new cars, demand for used cars could spike, driving up prices.

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