Consumer Confidence Plummets to 13-Year Low Amid Tariffs, Inflation

Consumer confidence in the U.S. has sharply declined in April, with multiple surveys attributing the drop to concerns over President Trump's new tariffs, rising prices, and increased market volatility. The Conference Board and University of Michigan both report consumer expectations have fallen to levels not seen since previous recessions, with many Americans worried about job prospects and expecting stock prices to drop. Global consumer sentiment has also retreated, according to Ipsos, as tariff fears spread beyond the U.S., impacting trading partners and foreign economies. The WalletHub Economic Index shows an 8% year-over-year decline in consumer sentiment, with fewer Americans planning large purchases or expecting to reduce debt, signaling broader pessimism about personal finances. Despite this global decline, some economies, such as Germany, have experienced a surprising uptick in consumer confidence due to domestic political developments offsetting tariff anxieties. Overall, the data indicate that trade policy and economic uncertainty are weighing heavily on consumer outlook both in the U.S. and internationally.