It is already being felt, but people just don't understand this yet.

For example, most PA system (amplifiers, mixers, etc) electronics are manufactured in China now. If you buy any of that product today from a dealer, it undoubtedly was imported before the 145% tariff. But you will almost certainly pay at least 10% more today than if you had bought the same product 2 months ago.

Almost all of these products are managed by brands based outside of China, but they contract the manufacture to Chinese companies. These companies have no short term options to manufacture elsewhere, and even if they did, many of the subcomponents would come from China, and possibly be subject to tariffs.

It is unclear if these products are exempt from the 145% tariff, but Trump has said any exemption is temporary, so the brand company is trying to get as much money as they can, fearing the worst in the months ahead. In other words, preemptive price increases.

It gets worse. I was in the process of buying a PA product that is "Made in Italy". At least the speakers are made entirely in Italy, but amplifier parts probably come from China. EU companies are currently exempt, but in the past month the price of the product I was looking at rose 10%. In other words, The Italian company raised their price because all their direct competition is made in China. So they can charge a higher price even though they are not affected by the 145% tariff on China.

Multiply this by millions of similar transactions. What a complete mess.