The Trump administration’s announcement of sweeping reciprocal tariffs on April 2, 2025, has reignited debate across the country. With many trading partners now facing new import taxes, Americans are left to weigh the potential impact – both economically and personally – amid an already uncertain financial landscape.
Our latest research suggests the country is far from unified on how these tariffs will shape the economy. Opinions remain polarized, often reflecting political affiliation. Over half of Americans (54%) believe tariffs will harm the economy, with Democrats (73%) and Independents (55%) significantly more likely to express concern compared to Republicans (33%).
Beyond the broader economy, many Americans worry about how these tariffs will affect their own households. Two in five (41%) say it will hurt their wallets, and a third (35%) see tariffs as a hidden tax on consumers. This anxiety is translating into budgetary concerns, with almost two-thirds (64%) feeling somewhat or extremely stressed about their finances – especially Democrats (71%) compared with Republicans (59%).
These fears may stem from real changes consumers are already seeing. Two-thirds (66%) have noticed an increase in grocery prices over the past six months, while 42% have seen clothing costs rise in the same period.
Looking ahead, nearly eight in ten Americans (77%) expect tariffs to personally impact their household finances over the next 12 months. Almost half (48%) also expect tariffs to increase during that time, fueling uncertainty about how these changes might influence their cost of living. For now, Americans’ concern centers less on the national picture and more on their day-to-day expenses.
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