Most consumers in the United States express both knowledge and concern about tariffs, with 83% of consumers saying they understand what tariffs are and how they impact prices and 88% expressing trepidation about the impact duties might have on their personal finances or shopping habits, according to market researcher Numerator reporting on its ongoing Tariff Sentiment Tracker.
More U.S. consumers oppose than support tariffs, 45% to 30%. The trend that intensifies at the margins, with 29% being strongly opposed compared to 12% who strongly support. Overall support of the tariffs is down two points from two weeks ago.
In demographic terms, Boomers+, a designation including the oldest consumers, at 38%, are more likely than the average consumer to say they support tariffs. In contrast, GenZers, at 55%, and Millennials, at 49%, are more likely to say they oppose tariffs. Still, only 27% of U.S. consumers said they believe that tariffs would have a positive impact on the economy, while 58% believe they will have a negative impact. In addition, 77% of consumers are concerned about the possibility of a recession occurring in the coming year.
When it comes to personal finances or shopping habits. 88% of consumers are concerned about the impact of tariffs, in line with Tariff Sentiment Tracker results from early May. Higher prices on everyday goods worry 64% of consumers, while 59% worry about general inflation, 48% worry about higher prices on non-essential items and 45% worry about limited availability of certain products.
Tariffs are prompting action from 81% of U.S. consumers, who expect to adjust their finances or shopping habits in response to duties. They are most likely to cut back spending on non-essentials, at 47%, look for sales or coupons to offset price increases, at 42%, delay non-essential or big-ticket purchases, at 32%, buy fewer imported goods, at 28%, and switch to lower-priced retailers or discount stores, at 30%. The only survey response to see a notable decline since late April was delaying purchases until prices stabilize, the response from 25% of consumers in June versus 28% in late April.
Economic concerns have declined slightly in the past month as 33% of consumers said they are worried about the tariff impact on the stock market and/or their investments versus 34% two weeks ago and 41% in late April, while 29% remain worried about slower economic growth flat from two weeks ago but down from 33% in late April. A small but significant proportion of consumers, at 19%, said they are worried about the impact on their jobs or industry, a percentage that has remained flat since late April.
At the same time, 9% of U.S. consumers said they have no concerns regarding tariffs and 7% do not anticipate any changes as a response to tariffs.
