Tariffs panned by economists for sowing uncertainty that they said made it challenging for businesses to plan aheadUS consumer confidence plunged to the lowest level in more than four years in March, with households fearing a recession in the future and higher inflation because of tariffs.The Conference Board said on Tuesday that write-in responses to the survey showed “worries about the impact of trade policies and tariffs in particular are on the rise”, adding: “There were also more references than usual to economic and policy uncertainty.” Continue reading...
US consumer confidence plummeted to a four-year low in March amid rising fears of Trump's tariffs and potential recession. Economists criticize the tariffs for creating economic uncertainty, hindering business planning. The Federal Reserve cut the US economic growth outlook, and Moody's warned of declining fiscal strength. Consumer confidence declined across most age and income groups, with concerns about future income increasing. The expectations index fell to its lowest level since March 2013, signaling potential recession.
