One in five Americans is buying more items than usual due, mainly, to concerns about the tariffs of the president of the United States (EU), Donald Trump, yesterday showed a Creditcards.com report, which reflects a greater anxiety of the consumers due to possible price increases and economic uncertainty.
Tariffs tend to be inflationary because they increase the cost of imported goods, which leads companies to absorb the highest expenses or pass them to consumers through price increases. This can generate broader inflationary pressures by increasing production costs in all sectors that depend on foreign materials and components.
For consumers, fear of price increase often feeds storage behavior, particularly non -perishable foods, toilet paper and medical supplies, since they rush to buy goods before costs are triggered even more.
When asked about the impact of tariffs planned by Trump on large purchases, 22% of respondents said they had a significant impact, while 30% reported some impact, according to the report.
Wall Street is anxious that tariffs can accelerate inflation in the US, prevent the Federal Reserve from cutting interest rates and slowing economic growth, since uncertainty around commercial policies can also weigh in consumer confidence.
According to the report, one in five Americans has described their recent “catastrophic spending” purchases, and 23% of Americans expect their credit card to run out or get worse this year.
Catastrophist expense refers to the behavior of excessive or impulsive purchases due to uncertainty or anxiety about the future, often caused by economic instability, geopolitical tensions or concern about the financial problems that are coming.
The executives of the companies have described Reuters and in telephone conferences the challenges of an environment that has become more uncertain by Trump’s changing plans on tariffs that could disrupt world trade and boost some companies to transfer production to the US .
