According to CreditCards.com, one in five Americans is buying more goods than usual, fearing the consequences of President Donald Trump’s tariff policy. The study, cited by Reuters, indicates that economic anxiety among consumers is on the rise.
Fear of rising prices
22% of respondents said that Trump’s tariffs have already had a significant impact on their major purchases, while another 30% noted a possible impact but could not estimate it. Americans are actively buying up non-durable goods, such as household products, paper and medicines, to avoid future price increases.
The effect of “doom spending” and rising debt
The phenomenon of “doom spending” – panic spending caused by the fear of economic instability – is gaining popularity. 23% of citizens expect their credit card debts to increase due to financial difficulties caused by the tariff policy.
Businesses are sounding the alarm
Large companies tell Reuters that unpredictable trade policies are making it harder to do business, forcing some firms to move production to the US to avoid additional costs.
Concerns on Wall Street
Financial analysts predict that the new tariffs could accelerate inflation, making it harder for the Federal Reserve to cut interest rates and slowing economic growth. This could reduce consumer confidence, which would affect investment and spending in the country.
