Americans Brace for Price Hikes Amid Trump Tariffs
A recent Reuters/Ipsos poll indicates that 73% of Americans anticipate sharp price increases due to new tariffs imposed by the Trump administration. As analysts predict widespread impacts on various consumer goods, Asian grocers and retailers are already feeling the pinch. Reports from Chicago and New York highlight consumer concern over rising costs, with prices for essentials like groceries and appliances potentially increasing by as much as 30%. Many shoppers are stockpiling items ahead of the tariffs, while others grapple with how these changes will affect their purchasing decisions, as brands announce price hikes. Retail experts warn that low-income families could be hardest hit by these tariffs, leading to fears of a recession as many Americans are expected to have less disposable income. As the guidelines on tariffs take effect, consumers are urged to prepare for significant changes in their shopping habits.
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