There's a buzz in the air as nearly 70% of U.S. consumers brace for rising prices amid new tariff measures imposed by U.S. President Donald Trump. A recent Harris Poll for Bloomberg News shows that 69% of American adults expect everyday goods to become more expensive, and many are already feeling the pinch.
Key findings reveal that 56% believe their household budgets would have fared better without these tariffs, while 52% feel the potential benefits don't justify the strain. In fact, three in five respondents have noticed price hikes in everyday items just in the past month!
Big retailers are reacting too. Walmart has warned it will raise prices to cope with higher inventory costs, and Target has adjusted its pricing strategy and sales forecast following a notable drop in consumer spending.
With economic uncertainty looming, about 60% of Americans are already cutting back on spending—many are dining out less (over 70%) and spending less on entertainment (57%). Even summer travel plans are being scaled back, with one-third booking fewer trips than last year.
For our tech-savvy readers across South Asia and Southeast Asia, these shifts offer a snapshot of how global economic policies can impact everyday life—from the cost of your favorite gadgets to weekend outings. Keep an eye on these trends, as they might just influence your own budgeting and lifestyle choices! 💸🛒
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Nearly 70% U.S. consumers expect higher costs amid tariff concerns
cgtn.com
