The real cost of tariffs: what Americans are feeling

Tariffs have long been a tool in the economic toolbox—used to protect domestic industries, balance trade deficits, and flex geopolitical muscle. But behind every policy decision lies a very real question: how do these moves affect everyday people?

In recent months, President Trump’s new and proposed tariffs on foreign imports have reignited public debate and shook financial markets with concerns swirling around rising prices, disrupted supply chains, and broader economic uncertainty. While economists and policymakers continue to debate the long-term impacts, we wanted to understand how average Americans are actually feeling.

To get a clearer picture, we surveyed 1,000 U.S. working age adults to gauge their awareness, concerns, and expectations around tariffs. 

The results reveal a public that is paying attention—and increasingly wary of how trade decisions might show up in their grocery carts, utility bills, and personal budgets. 

Quick summary

• High awareness: 75.5% of U.S. working-age adults are familiar with recent tariff policies, with men showing higher awareness than women.
• Strong concern about prices: Over 90% are concerned tariffs will lead to price increases, particularly on everyday items like groceries and clothing.
• Personal financial worry: 53.9% expect tariffs to negatively impact their finances, while only 20.3% anticipate a benefit.
• Noticed real-world effects: 34.9% have already observed price increases they attribute to tariffs, especially in food, energy, and healthcare.
• Income-driven responses: Lower-income individuals are more likely to substitute, delay, or stop purchases in response to price hikes, while higher-income groups are more likely to stock up.
• Shifting consumer behavior: Nearly half (50.1%) are switching to cheaper or local brands, and many are delaying big purchases or buying second-hand.

Tariff awareness: informed and engaged

When asked about their familiarity with recently proposed and implemented tariffs on foreign imports, the majority of respondents, 3 in 4 (75.5%) said they were somewhat or very familiar. Only a little more than 5% (6.6%) admitted to not being familiar at all. Gender differences emerge with men stating a significantly higher level of understanding in comparison to women.

While tariffs are making headlines, they’re effectively increasing awareness as consumers are paying closer attention to economic policy, likely because they sense real-world consequences.

Consumers are concerned about price hikes

The most immediate concern linked to tariffs is their impact on consumer prices. Here, perceptions are crystal clear: more than 1 in 4 (28.0%) of respondents said they are “extremely concerned” that tariffs will drive up prices on everyday goods like groceries, clothing, and electronics, with another 24.9% saying they are “very concerned”. In total, over 90% of the sample expressed some level of worry.

This shows a strong intuitive link in the public’s mind between tariffs and higher costs—an association that economists would agree with, particularly for tariffs imposed on consumer goods.

Personal financial impact: a mixed bag

When asked how tariffs might affect their own finances, responses varied:

• 53.9% expected a negative impact
  
• 20.3% anticipated a positive impact
  
• Only 9.3% believed tariffs would have no impact at all
  

The fact that 53.9% of survey respondents expect a negative impact on their personal financial situation suggests a significant level of concern among consumers about how tariffs will directly affect their wallets. This means that more than half of the people surveyed believe tariffs won’t just impact prices on a macro level—they’re bracing for noticeable changes in their own household expenses.

A broader economic signal

Over a third of respondents—34.9% to be exact—said they’ve definitely noticed price increases they believe are linked to trade policies or tariffs. This signals that, for many consumers, the impact of global economic decisions isn’t just theoretical—it’s already showing up in their day-to-day spending. 

Concern for specific product categories is split across the board with major necessities leading the pack:

• 68.2% are worried about prices of food and groceries becoming more expensive
• 46.8% are concerned about gasoline and energy costs
• 40.2% are worried about healthcare or prescription drugs costs

Unsurprisingly, these concerns shift depending on income levels. Those who are making less than $50k in household income are significantly more likely to be worried about these three categories (food, gasoline, and healthcare) than those making $100k or more per year.

How are consumers reacting?

When asked how they would respond to a 15% price hike on a product due to tariffs, consumer behavior varied notably by income level. 

Overall, the most common response was to look for a cheaper alternative or substitute (40.8%), a strategy especially popular among lower-income respondents—45.5% of those earning under $50k said they’d opt for this route, compared to just 32% of those earning over $100k. 

Meanwhile, 35.4% of higher-income consumers said they would buy extra now to avoid the price hike, a move that requires more disposable income—only 21.8% of lower earners said the same. Notably, people in the under $50k group were also more likely to stop buying the product altogether (9.1% vs. 2.7%). 

This data highlights how lower-income households are more likely to adjust or sacrifice consumption when faced with cost increases, whereas higher-income consumers are more inclined to use their purchasing power to stock up or absorb the price hike.

In response to potential price increases from recently proposed and implemented tariffs, nearly half (50.1%) of respondents reported switching to cheaper or local brands, with a significantly higher percentage among women (54.8%) than men (45.2%). Delaying large purchases (39.7%) and stocking up on goods (35.6%) were also common strategies. 

Additionally, 26.5% of individuals are turning to second-hand or resale items, with women again showing a significantly higher tendency (29.7%) compared to men (23.1%). Only a small portion reported taking no action (7.5%) or pursuing other strategies (3.1%).

Conclusion

This survey shows that tariffs are not just a tool in policymakers’ arsenals—they’re a real and felt presence in the lives of ordinary Americans. Most people are aware of tariffs, worry about their impact on prices, and believe they could touch their own wallets. 

Whether or not these perceptions align perfectly with the facts, one thing is clear: economic policy doesn’t exist in a vacuum—it lives in grocery store aisles, on utility bills, and in the minds of the public.

And don’t forget—you can dig into the data as much as you like on our interactive dashboard.