Americans are feeling the squeeze! A recent Harris Poll for Bloomberg News shows that nearly 70% of U.S. adults expect everyday goods to become more expensive due to tariffs imposed by U.S. President Donald Trump. This isn’t just a prediction—many are already noticing a price jump on items they use daily. 😮
The poll digs deeper into consumer sentiment: 56% believe their finances would be better off if these tariffs had never been in place, while 52% feel that any benefits don’t outweigh the economic strain. It seems like most are not buying into the idea that higher costs are a necessary evil.
Major retailers are reacting too. With Walmart warning of upcoming price hikes to cover new inventory costs and Target adjusting both prices and their sales forecast, the ripple effect is hard to ignore. With reports indicating that three out of five respondents have seen price increases in just the past month, the economic pressure is real. 💸
Uncertainty has led many to tighten their budgets. Around 60% have already cut back on spending, with another 16% planning to do so soon. A big chunk of these consumers—over 70%—are dining out less, and 57% have scaled back on entertainment. Even summer travel is being rethought, with one in three booking fewer trips than last year.
This evolving scenario serves as a wake-up call. While many Americans remain cautious about a weakened economy and potential recession, the poll reflects a growing skepticism towards the current trade policies. For those keeping an eye on both economic trends and everyday life, the message is clear: prepare for more expensive days ahead.
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Nearly 70% U.S. consumers expect higher costs amid tariff concerns
cgtn.com
