As summer approaches, a wave of wallet-watching is sweeping the U.S. Nearly two-thirds of Americans say they plan to spend less this summer than last year, according to The Independent. With prices on the rise, the culprit is clear: trade tariffs.
A recent WalletHub survey reveals that 45 percent of respondents are rethinking travel plans because of higher costs. Meanwhile, an April study by KPMG found half of U.S. consumers are cutting back on everyday spending, and over 70 percent anticipate a recession within 12 months.
Raina Becker, a freelance copy editor, says tariffs have driven prices to “unreasonably high” levels. “What you're charging is not even close to what it's worth,” she adds. Her frustration echoes across industries—from groceries to gadgets.
For families like Brad Russell's in Philadelphia, the impact is personal. Russell says his two kids will likely trade weeklong resort stays for budget-friendly weekend road trips. 'We're expecting costs to keep climbing,' he tells Bloomberg, 'so we're finding new ways to make summer count without breaking the bank.'
Data-Driven Decisions
From airfare to smartphone upgrades, tariffs on imports have injected uncertainty into consumer budgets. Businesses are passing higher import taxes onto shoppers, transforming everyday essentials into premium-priced goods.
What's Next?
As policy debates continue in Washington, households are already adapting. Whether it's swapping theme parks for nearby adventures or delaying big-ticket purchases, Americans are finding creative ways to stretch dollars.
For globally minded travelers and digital nomads, the lesson is clear: flexibility pays. From off-peak bookings to emerging destinations, savvy planning can help beat inflation's bite.
Reference(s):
cgtn.com
