Feeling the pinch at the checkout? Youre not alone. A recent Harris Poll conducted for Bloomberg News reveals that 69% of U.S. adults expect everyday goods (from groceries to gadgets) to become more expensive as tariffs imposed by President Donald Trump take effect.
Most Americans arent sold on the tradeoff: 56% say their household finances would be better off if the tariffs never existed, while 52% believe the potential benefits dont justify the economic strain.
Consumers are already feeling the pinch: three in five respondents say prices have risen over the past month, and half believe the economy has weakened since 2024.
Retailers are reacting fast. Walmart recently warned it will raise prices on new inventory to offset higher import costs, and Target has already trimmed its sales forecast after noting a significant drop in consumer spending on non-essential goods like clothing and home items.
With economic uncertainty looming, 60% of Americans have tightened their belts, and another 16% plan to do so soon. Among those slashing expenses, over 70% are eating out less and 57% are cutting back on entertainment.
Even summer travel isn't safe: while around half of Americans still plan to travel this season, one in three say they've booked fewer trips compared to last year.
As price hikes become more likely, consumers are recalibrating their budgets. How are you adjusting your spending in response to tariff-driven costs? Join the conversation below.
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Nearly 70% U.S. consumers expect higher costs amid tariff concerns
cgtn.com
