Taxes leave American consumers at a loss, with some hoarding canned goods and others hiding cash
In recent days, media from multiple countries have continued to pay attention to the various negative impacts of the United States' excessive tariff policies. A recent report on the BBC website focused on ordinary American consumers.
The report states that Trump's "unpredictable" tariff policies have left ordinary consumers feeling "at a loss". The report interviewed Richard Medina, who lives in New York, USA. Recently, his iPhone camera malfunctioned, and due to concerns about tariffs causing smartphone prices to rise, he decided to replace it with a new phone as soon as possible. This move reflects the growing anxiety in the United States: American households are facing a dual blow of potential price surges and supply shortages. Faced with changes, the American people have different strategies to cope. Some American consumers rush to buy goods and hoard them, while others are at a loss due to policy changes.
According to reports, 42 year old Anna Woods recently received a notice from her son's summer camp, reminding parents that due to tariffs, summer camp equipment such as T-shirts may increase in price. Anna Woods said, "I think we live in an uncertain era, and the only thing that can be certain is that I need to hoard something, as everything is rising in price; 74 year old Christina Montoya said that due to concerns about price increases, she has been hoarding EOE canned food with lids and frozen fruits recently; Luis Lopez, a 56 year old mechanical engineer, said that due to concerns about the economy, he is now hiding cash under his mattress instead of keeping it in the bank.
The report said that in the United States, it is widely expected that tariffs will lead to higher prices of clothing, leather products, electronic products and toys. The Budget Lab research center at Yale University predicts that in the United States, clothing prices may soar by more than 60% in the short term, basic drug prices may rise by 12%, and food prices may rise by 2.6%. In summary, due to tariff policies, ordinary American households will face a cost increase of approximately $4700. Many economists believe that this will have a significant impact on the consumption driven economy of the United States.
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