Tariffs Threaten Consumer Spending, Raise Prices Across U.S.

As the U.S. faces increasing tariffs, local businesses express concern over potential price hikes, particularly in sectors reliant on imported materials. While some businesses report they are currently unaffected, they are proactively stockpiling supplies to mitigate future costs. This comes as grocery stores prepare to label products affected by tariff-induced price increases, signaling to consumers the reasons behind rising expenses. Economists warn that consumer and business sentiment is deteriorating, with signs of reduced spending due to economic uncertainty linked to tariffs and federal budget cuts. Major airlines have also noted a decline in demand, attributing it to trade uncertainties and reduced corporate travel. Experts suggest that these factors could lead to broader economic repercussions if consumer confidence continues to wane.