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Trump’s tariffs are changing the way Americans spend

  • KPMG released its second annual American Perspectives survey early Thursday, April 24, 2025, after surveying 2,500 U.S. Adults from April 3 to April 23.
  • The survey followed President Trump's April 2 announcement of new tariffs and aimed to assess how consumers adapt to economic forces including tariffs, inflation, pandemic effects, AI, and education.
  • Respondents reported delaying major purchases like cars, with 43% postponing vehicle buys due to tariffs, and 68% avoiding new debt while shifting to free ad-supported TV streaming alternatives.
  • About 45% said generative AI significantly impacts their daily life, and half no longer see a degree as essential for well-paying jobs, reflecting shifts in technology and education perceptions.
  • Matt Kramer from KPMG noted consumers are adapting faster than during the pandemic, actively pursuing opportunities to save and control costs while evaluating their spending decisions.
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Real Clear Politics broke the news in Chicago, United States on Wednesday, May 14, 2025.
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