American consumers are tightening their budgets this summer as rising prices linked to U.S. tariffs dampen spending plans, according to recent surveys and media reports. The findings underscore growing economic anxieties among households as trade policies reshape purchasing behavior.
A WalletHub survey revealed 45% of respondents are adjusting travel plans due to tariff-driven price hikes, while 63% intend to spend less this summer compared to 2022. Similarly, a KPMG poll of 1,516 consumers found 50% cutting back on expenses, with over 70% anticipating a recession within a year.
Freelance copy editor Raina Becker told NBC News tariffs have pushed prices beyond perceived value, stating: "What you're charging is not even close to what this is worth." Families like Brad Russell's in Philadelphia are opting for weekend road trips over resort vacations, reflecting a broader shift toward budget-conscious choices.
The spending pullback follows renewed tariff measures implemented since January under former U.S. President Donald Trump's trade policies. Analysts note these trends could ripple through global markets, particularly in Asia, where export-driven economies monitor U.S. consumer demand closely.
