1. Steel
Steel used to be a reliable, affordable building block of American industry, but not anymore, according to Yvonne Yue Li and Jack Farchy of Bloomberg. In 2018, the U.S. imposed tariffs on imported steel and aluminum from key suppliers like China, the EU, and Canada under Section 232 of the Trade Expansion Act. That led to retaliatory tariffs and a mess of global steel pricing. Domestically, production couldn’t scale up fast enough to meet demand, especially after pandemic slowdowns.
Prices surged as construction and manufacturing rebounded faster than expected in 2021. Global supply chain snags didn’t help, especially with so many countries limiting exports to protect their own industries. Throw in a war in Ukraine—one of the world’s biggest steel exporters—and prices stayed elevated. So yes, geopolitical drama helped make your washing machine and car more expensive.
2. Lumber
Remember when building a deck didn’t feel like financing a small car? Lumber used to be dirt cheap in the U.S., but that all changed during the COVID-19 pandemic when supply chains got choked and global demand shifted wildly. Add in Canadian tariffs and a pine beetle infestation in British Columbia, and suddenly America was importing less wood, Eric Revell of Fox10 explains. With demand skyrocketing from home renovations and new construction, prices more than tripled in 2021 before slowly settling.
Then there’s the geopolitical factor—trade tensions with Canada, our biggest softwood lumber supplier, have led to tit-for-tat tariffs since 2017. These duties made lumber more expensive for U.S. builders even before the pandemic hit. Throw in logistics slowdowns and container shortages, and the cost of a 2×4 hasn’t looked the same since. Global politics made something as basic as wood surprisingly complicated.
3. Chicken Wings
What used to be bar food you could snag for $0.25 on a Tuesday is now more like a luxury item, Emma Bowman of NPR says. Chicken wing prices have spiked thanks to a mix of supply chain issues, labor shortages in poultry processing plants, and a sharp rise in demand from fast food chains. Wingstop even launched “Thighstop” in 2021 to push less popular cuts due to wing scarcity. Meanwhile, global feed prices rose, and that hit poultry farmers hard.
The U.S. also imports some poultry and feed ingredients, so global inflation and export restrictions have had ripple effects. Add in a major avian flu outbreak that decimated flocks in 2022 and 2023, and wings got hit from every angle. When a global grain shortage jacks up feed costs, your local Buffalo Wild Wings feels it. Bottom line: chicken wings became a casualty of a global game of economic Jenga.
4. Coffee
Once a casual morning ritual, your cup of joe has become noticeably pricier, Sakshi Venkatraman and Imogen James of the BBC share. Climate change has wrecked crops in key coffee-growing countries like Brazil, where a devastating 2021 frost and prolonged drought reduced production dramatically. That sent global prices soaring. Meanwhile, shipping disruptions and container shortages further delayed delivery to the U.S.
Add to that increased labor costs and political instability in producing nations like Colombia and Ethiopia, and supply reliability took a hit. The U.S. imports nearly all of its coffee, so global disruptions hit hard and fast. Even chains like Starbucks have warned of sustained price increases. So your $3 coffee is now $5, not because of foam art—because of global heatwaves and shipping gridlock.
5. Semiconductors
Computer chips used to be cheap, ubiquitous, and quietly running everything from your phone to your fridge. But the pandemic exposed just how fragile and global the supply chain for semiconductors really is. Factory shutdowns in Taiwan, South Korea, and China collided with soaring demand for electronics during lockdowns. The result? Prices spiked and lead times stretched into months.
Tensions between the U.S. and China over technology, especially restrictions on companies like Huawei, added more friction to the global chip supply. In response, countries began hoarding or prioritizing domestic use, which further restricted international availability. Auto manufacturers were particularly hard hit, leading to vehicle shortages and higher prices across the board. So yeah, geopolitics can totally mess with your next iPhone release.
6. Furniture
That $99 bookshelf at IKEA? Good luck. Global shortages of foam, lumber, metal, and shipping containers sent furniture prices through the roof starting in 2020. Much of America’s furniture is imported, especially from China and Vietnam, and container rates from Asia to the U.S. West Coast hit record highs during the pandemic.
Vietnam’s strict COVID lockdowns shut down major factories for months, slashing supply just as Americans were stuck at home redecorating. Add to that a spike in resin and foam prices—due in part to oil price volatility—and costs skyrocketed. Throw in higher tariffs on Chinese imports and suddenly your couch costs 40% more. The global logistics dance turned furniture into a luxury item for a while.
7. Baby Formula
Baby formula in the U.S. used to be affordable and relatively plentiful, but then a perfect storm hit. In 2022, Abbott Nutrition—one of the country’s largest producers—shut down a major plant due to contamination concerns, wiping out a huge chunk of domestic supply. Normally, international imports could help, but the U.S. imposes steep tariffs and regulatory barriers on foreign-made formula.
With limited imports and a domestic shortage, prices shot up and parents panicked. Global suppliers were ready to step in, but bureaucratic delays and trade rules slowed the process. Even countries like the U.K. and Germany, where formula is abundant, couldn’t easily export to the U.S. This became a textbook example of how protectionism can backfire in times of crisis.
8. Bicycles
Bikes were once an affordable transportation and fitness option, but then came the pandemic bike boom. As gyms closed and people avoided public transit, demand exploded in the U.S. Meanwhile, the vast majority of bikes or their components come from Asia, especially China and Taiwan.
Factory shutdowns, shipping bottlenecks, and rising raw material costs all contributed to price hikes and massive backorders. Even common models from brands like Trek and Specialized were out of stock for months. Add in new tariffs on Chinese bikes and components under the U.S.–China trade war, and prices jumped. So if biking to work suddenly felt like buying a Vespa, that’s why.
9. Gasoline
Gas prices in America have always fluctuated, but the jumps since 2021 have felt particularly jarring. After pandemic demand collapsed in 2020, oil production was scaled back, and when demand returned, supply lagged behind. Then Russia invaded Ukraine in 2022, sending global oil markets into chaos and triggering price spikes worldwide.
While the U.S. is one of the top oil producers, it’s still part of a global market. Sanctions on Russian oil limited supply, and OPEC+ countries weren’t quick to ramp up production. Refining capacity also took a hit during COVID, reducing the ability to process crude into usable gas. All this led to record highs in pump prices—even in a country used to cheap fuel.
10. Paper Products
Toilet paper panic-buying was just the start. Global shortages of wood pulp—mostly sourced from Canada, Brazil, and Scandinavia—combined with supply chain issues to spike prices on all kinds of paper goods. Add in a surge in e-commerce that increased demand for cardboard packaging, and paper mills struggled to keep up.
Shipping delays, labor shortages, and even port closures added layers of complexity. Then China, a major paper exporter, began restricting exports to protect domestic industries. Meanwhile, fuel price increases made transporting heavy paper goods more expensive. Your napkins, notebooks, and tissues are now caught up in a web of international drama.
11. Cars
New and used car prices in the U.S. have soared in recent years, and it’s not just inflation. A critical shortage of semiconductor chips crippled auto manufacturing globally, especially in the U.S., Europe, and Japan. Some factories sat idle for months waiting on components. Meanwhile, demand stayed high and inventories dried up.
The U.S.–China tech rivalry also played a role, since many chipmakers faced export restrictions. Automakers scrambled to redesign models with fewer chips or simpler electronics, but that couldn’t happen overnight. Add to that global steel price hikes and higher shipping costs for imported parts, and sticker shock was guaranteed. Even used cars became gold.
12. Electronics
From gaming consoles to laptops, electronics prices have seen sharp upticks and long delays. The global chip shortage was a major culprit, but there’s more. Rare earth elements, vital for electronics, are heavily mined in China, which has tightened exports during political spats. That gives China major leverage over tech supply chains.
Meanwhile, the pandemic drove up demand for devices as people worked and studied from home. Shipping container shortages and port delays added to the bottleneck. And with the U.S. imposing tech export restrictions and banning certain Chinese suppliers, the market got even messier. Your PS5 delay? Thank a dozen overlapping geopolitical headaches.
13. Bread and Baked Goods
Basic carbs like bread aren’t immune to global economic shifts. Wheat prices have been volatile due to extreme weather events and geopolitical instability—especially the war in Ukraine, which is one of the world’s top wheat exporters. The conflict disrupted global supply chains and sent grain prices soaring in 2022.
Add to that droughts in the U.S. Midwest and Canada, plus rising fertilizer prices tied to natural gas costs and export restrictions. These factors made flour more expensive across the board. Global grain shortages impacted prices for everything from baguettes to bagels. A humble loaf of bread got caught in the crosshairs of international conflict and climate shifts.
14. Clothing
Fast fashion was built on cheap global labor and low transportation costs—but both of those are now under pressure. Pandemic disruptions closed garment factories in Bangladesh, Vietnam, and China, leading to major delays and backlogs. At the same time, shipping costs more than quadrupled in 2021 due to port congestion and container shortages.
Then there’s the labor side. As global wages rise and countries push for better working conditions, production costs have increased. Plus, trade tensions and tariffs on Chinese textiles and cotton have driven up import costs. All that means your $9 t-shirt now costs $15, and the “cheap clothes” model is getting harder to sustain.
15. Sugar
Sugar might seem like a constant pantry staple, but prices have surged globally due to weather and politics. Brazil, the world’s top sugar exporter, faced a severe drought and frost in 2021 that slashed yields. India and Thailand also dealt with poor harvests. As a result, global supply dipped just as demand rebounded.
Meanwhile, U.S. sugar policy enforces quotas and tariffs on imports to protect domestic producers. That keeps prices in the U.S. higher than the global average even when global supply is tight. Add to that fuel costs and shipping disruptions, and sugar became unexpectedly pricey. A spoonful of sugar now costs more because the world got a little bitter.
