Published January 24, 2025

04:27 PM EST

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Key Takeaways

  • President Donald Trump is expected to announce tariffs on several countries in the coming days, and 60% of consumers said that that could change their shopping habits.
  • The survey showed that conservatives and liberals have sharply different opinions on whether tariff policies would raise prices.
  • Consumer spending makes up about two-thirds of the U.S. GDP, and a slowdown in spending patterns could impede economic growth.

With President Donald Trump promising to impose a range of tariffs on foreign imports, some consumers expect they’ll have to change their shopping habits as a result.

According to a survey from customer experience platform provider InMoment, 83% said they believed an increase in tariffs would change their shopping habits. Additionally, 56% anticipated a rise in prices for goods and services as a result of tariffs.

The survey found that 60% of respondents said they would reduce their spending on electronics and eating at restaurants. Respondents also expressed concerns about the price of necessities such as groceries and gas.

Trump has pledged to raise tariffs on several countries, specifically targeting China, Canada, and Mexico, but has delayed an announcement until Feb. 1. Many economists believe tariffs will push consumer prices higher, though they disagree on how much those policies could add to price tags.

If higher prices keep consumers from shopping, it could have a big impact on the U.S. economy. Consumer spending makes up about two-thirds of the country’s gross domestic product, and strong retail sales recently helped lift the economy when some analysts were forecasting a recession. 

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