Could Tariffs Impact How You Spend Money? | Global News Avenue

President Donald Trump has promised to impose a series of tariffs on foreign imports, and some consumers expect they will have to change their shopping habits.

According to a survey by customer experience platform provider Inmoment, 83% said they saw an increase tariff Will change their shopping habits. Additionally, prices for goods and services increased by 56% due to tariffs.

The survey found that 60% of respondents said they would spend less on electronics and dining at restaurants. Respondents also expressed concerns about the price of essential items such as groceries and gas.

Trump has pledged to raise tariffs on several countries, particularly those targeting China, Canada and Mexicobut delayed Announcement until February 1. many economists believe Tariffs will raise consumer pricesalthough they disagree that these policies can add to the price tag.

If higher prices deter consumers from shopping, it could have a significant impact on the U.S. economy. consumer spending Accounting for about two-thirds of the country’s gross domestic product, retail sales have been strong of late Help lift the economy When some analysts predict a recession.