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America’s Tariff-Driven Buying Spree Leaves Households Saddled with Debt and Financially Vulnerable

UNITED STATES, JUL 2 – US household debt reached a record $18.2 trillion as consumers accelerated purchases to avoid tariff-driven price hikes, risking future cuts in discretionary spending, economists warn.

Summary by KIFI
By Bryan Mena, CNN Washington (CNN) — Linda Wilburn, a 62-year-old retiree in Susanville, California, did not plan to buy a car this year. She originally wanted to save up, build her credit and buy a used car next year — a necessary purchase, she said. But President Donald Trump’s tumultuous trade war drove her to buy a car this past April, fearing higher prices if she waited any longer. Now Wilburn has a $607 monthly car payment coming out of h…

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  • 83% of the sources are Center
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CNN broke the news in Atlanta, United States on Wednesday, July 2, 2025.
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