Nearly 70% of U.S. consumers are bracing for higher prices on everyday goods as concerns over tariffs and trade policies shake confidence in the economy, according to a new Harris Poll. With inflation fears lingering and retailers like Walmart and Target adjusting prices, many Americans are cutting back on spending—and summer plans. 🛒💸
The Tariff Tightrope
Over half of respondents (56%) say their household finances would be better without tariffs, while 52% argue the economic strain outweighs potential benefits. Three in five already report price hikes on essentials in the past month alone. 💼📈
Retailers React
Walmart recently warned of price increases to offset costs, and Target slashed its sales forecast after a drop in consumer spending. Non-essential items like clothing and home decor are taking the biggest hit, signaling a shift toward frugality. 🛍️⚠️
Summer Plans on Ice? 🏖️
While half of Americans still plan to travel this summer, a third say they’ve booked fewer trips compared to 2023. Meanwhile, 60% have already reduced spending—with dining out and entertainment budgets first to go. 🍔🎬
As economic uncertainty looms, the big question remains: Will policymakers address consumer concerns before the belt-tightening becomes the new normal? 🤔
