It's genuinely amazing how cheap a new TV is these days. A 65-inch LCD television that probably would have cost $1,500 or $2,000, a decade ago is now under $500. And in a world where everything's so expensive cars, houses, eggs there's some comfort in knowing you can still indulge in your guilty pleasure show at the end of the day, in high quality, for a pretty low cost. If you can't afford that fancy vacation, at least you can live a little vicariously through "The White Lotus."That's the deal American consumers have begrudgingly made over the years. A lot of the elements of the supposed American dream are wildly pricey to the point that for many people they're out of reach. Healthcare is wildly expensive. College tuition is nuts. Navigating the housing market is panic-attack-inducing, whether you're trying to buy or rent.What's still accessible is the cheap stuff. The cost of consumer goods such as toys, clothes, and electronics has gone down. We tolerate the price tags of the big stuff, in part, because we have no other choice, and in part because at the very least we're entertained, we're connected, and we can fill our homes and closets with stuff. Maybe you can't move up in life, and once available opportunities are shut off, but hey, at least you can get something fun and weird for $5 on Temu.But now, that grand bargain is changing. Inflation has made the cost of once accessible stuff a little hard to stomach. And tariffs threaten to blot out the last of what's affordable. Treasury Secretary Scott Bessent recently declared that "access to cheap goods is not the essence of the American dream." Unfortunately, it's the whole shebang, or at least what it's become. And even that might be about to be taken away, too.It didn't used to be this way. Throughout most of history, consumers weren't inundated with things. Most people had a limited amount of clothes often made by the women of the house and furniture and possessions. Their stuff lasted throughout their lifetimes, and when something broke, they fixed it instead of tossing it to buy a replacement. But with the Industrial Revolution and eventual "Mad Men" era of advertising, mass-produced stuff became widely available and attractive to everyone. Along with savvy marketing campaigns came manufacturing tricks like planned obsolescence, where things are built to die, and financial innovations, like consumer credit, that made it easier to pay for all that stuff. And, of course, there's globalization, meaning it's possible to make a bunch of cheap stuff outside the US and ship it in.Chip Colwell, an anthropologist who is the author of "So Much Stuff: How Humans Discovered Tools, Invented Meaning, and Made More of Everything," told me that it's not just the "capacity" to make all this stuff that made Americans start to accumulate it, but "also really this ideology of abundance." It became possible and desirable to constantly have more, in order to keep up with the Joneses and with our own ideals of consumerism. "The culture of consumption that we have is absolutely predicated on supercheap stuff that we can easily throw away and not have to worry about," he said.Materialism is part of our consumer citizenship.The consumer economy is a driving force in the American economic engine. We spend money to keep the wheels turning. It's become part of our patriotic duty after the September 11, 2001, attacks, political leaders told Americans to keep spending and not let what happened "in any way throw off their normal level of activity." The ability to spend on what we want when we want is viewed as a pillar of American freedom."Now, there's no shame in being materialistic. In fact, materialism is part of our consumer citizenship," said Wendy Woloson, a history professor at Rutgers University who is the author of "Crap: A History of Cheap Stuff in America."The churn of stuff cuts across income levels, too. A survey from The New Consumer and Coefficient Capital found that Shein shoppers were likelier to say they cared about sustainability and the environment than the average consumer eyebrow-raising, given that Shein's clothes and business model are pointedly not good for the planet. A separate March 2024 analysis from the credit card data company Earnest Analytics found that nearly half of sales for Temu, another cheap Chinese retail marketplace, came from people making over $130,000 a year. Given the way wealth has been concentrated at the tippy top of the economy, it tracks: Nearly everyone outside the top 10% of income earners is feeling squeezed by costs of things such as healthcare and higher education, and cheap consumer goods are an outlet to exercise some agency. And in uncertain economic times, everyone's feeling a little price-sensitive.The Trump administration's recent moves have some important implications for the cheap-stuffification of the American economy. The president is taking a protectionist approach to trade, implementing tariffs that could make the inexpensive things consumers have come to rely on quite a bit more expensive. Retailers such as Best Buy and Target have begun to warn of price increases. The stream of super-low-cost inane items from Shein and Temu could be cut off should President Donald Trump get his way. The prices of clothes, electronics, and toys are likely to go up the things that up until now have been reliably affordable."The whole agenda is let's make it so that it's not the default option to buy just the cheapest, crappiest stuff from overseas when we should be making more of it in America," said Dan Frommer, the founder and editor in chief of The New Consumer.But shifting the entire supply chain for goods from overseas back into the US is a transition that, if it happens, will be painful for consumers. We're used to a world of more more more we don't know what it's like to do less less less."We don't have that experience of contraction. The system has grown and grown and grown and grown and grown, and the system is based on growing and growing and growing," said Susan Strasser, a historian of American consumer culture. "You want the end of the quarter report to be better than the last end of the quarter report. That's the whole point of it. And so in no sense are people prepared."I don't think that anybody can accurately predict where the next tariff action is going to take place.I'll go back to the example of TVs the great American escape. Televisions, like many consumer electronics, have gone down in price even as they've gotten better over the years. According to the Bureau of Labor Statistics, television prices have decreased by 98% since 2000."The reason why the prices fall is because of business investment," said Paul Gagnon, a vice president and industry advisor on consumer technology at Circana, a market research firm, adding that companies invest "continuously in new manufacturing facilities that are more efficient and therefore can produce for at least the same amount of money a product that has a lot more performance, or for less money, something that's larger."Much of this activity, however, is taking place outside the US.Patrick Horner, a practice leader in TV set research at Omdia, a tech advisory firm, explained that 10 years ago, 49% of assembly for televisions imported into the US was happening in China. But after Trump's first term and the tariffs he put in place on China then, manufacturers moved more of their assembly operations to Mexico. Now, around 60% of American TV imports are made there. You can see the problem: In his second term, Trump has announced 20% additional tariffs on top of existing tariffs on China, and he's also threatening a 25% tariff on imports from Mexico that's (for now) supposed to be implemented in April. Omdia estimates manufacturers with existing factories could shift partial production to tariff-free countries in six months to a year, but building a new factory would take years. And, again, no one knows what Trump's next target could be."TV makers are looking into shifting some assembly out of Mexico and relocating it to someplace that doesn't have tariffs," Horner said. "But the thing is, Trump could very much say, 'Hey, Vietnam's on the radar screen, now they're getting the 25% tariff.' I don't think that anybody can accurately predict where the next tariff action is going to take place."Gagnon said some particular factors kept prices on TVs from going up too much in response to Trump's tariffs in 2018 and 2019. At that time, retailers bought extra inventory to try to get ahead of price increases and it happened at a moment when supply chains to make critical components were expanding and pushing prices down. "Even though the tariffs caused the costs to go up on TVs imported from China, a lot of the components of the TV went down," he said. The context now is different. "It's pretty hard to see how an increase of 25% on the imported cost of a TV from Mexico to the US, given the profit margins for a lot of these TVs, wouldn't result in a price increase," he said.It's not a bad thing to contemplate the end of the era of cheap stuff. The rate at which we're able to accumulate things without having to think about the trade-offs environmental, labor-related, or otherwise is alarming. I don't want to sound like a scold here, but our kids don't need so many toys, our closets don't need to be so full, and that barely old phone doesn't need to be swapped out. Getting a new fun thing may deliver a temporary endorphin hit, but most research shows it doesn't make us happier in the long run. It's not our fault we're like this. Corporations and marketers have turned us into stuffmongers, and even our political leaders encourage us to keep buying.If and when tariffs start to increase prices and make even the most reachable things unreachable, it's going to feel annoying and unfair. Goods aren't going to become higher quality overnight; tariffs will just make them costlier. That TV isn't made to be fixed when it breaks; it's made to be replaced, whatever the price of said replacement. Fixing something isn't just a physical skill, Strasser said, "but to some extent, it's an emotional skill and a way of framing your relationship to material goods that's just completely different from anything that we've experienced in the last 50, 60, 70 years."Like it or not, the American dream is a little bit about access to cheap stuff. It's that giant TV that at least lets you watch the football game (assuming you can find it wherever it's streaming, which is increasingly expensive). It's a repeat pair of those sneakers that wore out suspiciously fast. It's even a "Live, Laugh, Love" sign, a seasonal pillow sham, or random holiday decoration. And now, that all might be ripped away, too.Emily Stewart is a senior correspondent at Business Insider, writing about business and the economy.