Here’s how tariffs are affecting consumer behavior
A new survey reveals almost all consumers express concerns over tariffs, with many saying tariffs will change how they shop.
Nearly nine-in-10 U.S. consumers surveyed by the Numerator Tariff Sentiment Tracker (88%) say that they are concerned about the impact of tariffs, in line with survey results from April.
Almost two-in-three (64%) respondents are worried about higher prices on everyday goods, while 59% are worried about general inflation, 48% are worried about higher prices on non-essential items, and 45% are concerned about limited availability of certain products.
[READ MORE: NRF: Tariff-related inflation 'expected to be felt' later this year]
Eight-in-10 (81%) respondents expect to adjust their finances or shopping habits in response to the tariffs. Respondents say they are most likely to cut back spending on non-essentials (47%), look for sales or coupons to offset price increases (42%), delay non-essential or big-ticket purchases (32%), buy fewer imported goods (28%), and switch to lower-priced retailers or discount stores (30%).
Only 27% of respondents believe that tariffs will have a positive impact on the U.S. economy over the next year while 58% believe they will have a negative impact.
More than three-in-four (77%) respondents are concerned about the possibility of a recession in the coming year, while 9% say they have no concerns regarding tariffs and 7% plan to make no changes to their spending habits.
Despite general tariff worries, 33% of respondents are concerned about the impact on the stock market and/or their investments, down 34% from two weeks prior and 41% in late April).
In addition, 29% of respondents are concerned about slower economic growth compared 33% in late April). Nearly one-in-five (19%) say they are worried about the impact on their job or industry, a percentage that has remained flat since late April.
More respondents oppose tariffs than support them (30% support, 45% oppose), a trend that intensifies at the margins, with 29% being strongly opposed compared to 12% who strongly support. Overall support of the tariffs is down from recent results.
Other findings
- More than eight-in-10 (83%) respondents say they understand what tariffs are and how they impact prices.
- Boomers and older generations (38%) are more likely than the average respondents to say they support tariffs, while Gen Z (55%) and millennials (49%) are more likely to say they oppose tariffs.
Numerator’s Tariff Sentiment Tracker survey was most recently fielded to 5,054 U.S. consumers between June 2-8, 2025.
