US Consumer Confidence Plummets Amid Trade War Fears: Experts Weigh In

Consumer confidence plunges to near-record low amid trade war anxieties. The United States is grappling with a sharp decline in consumer confidence, reaching near-record lows according to recent data. This downturn is largely attributed to anxieties surrounding President Trump's trade policies and the resulting economic uncertainty. Treasury Secretary Scott Bessent, in a recent interview, acknowledged that tariffs could lead to price increases, although he minimized the risk of significant inflation. "Walmart will be absorbing some of the tariffs, some may get passed on to consumers," Bessent stated, highlighting the complexities of the situation. The impact is deeply felt by everyday Americans, as personal finance expert Erin Lowry explains: "Even if the economy is doing well...it can still feel for some people like a personal recession." The uncertainty is further compounded by the fact that the official declaration of a recession requires sufficient data, which is not yet available. This situation underscores the need for consumers and businesses to carefully manage their finances during this period of economic volatility.