The News
US consumer confidence fell in April to its lowest level since May 2020, according to new data released on Tuesday.
The Conference Board’s figures — which also showed that a third of consumers expect hiring and business conditions to worsen — reflected the increasingly gloomy outlook among Americans: Recent polling indicates that trust in US President Donald Trump’s ability to handle the economy is faltering, while recession fears are rising.
Businesses are also growing more vocal about how import duties will affect consumers: Adidas warned Tuesday that tariffs would lead to price hikes on all its US products, while Chinese e-commerce platform Temu began listing “import charges”; Amazon said it considered, but abandoned, a similar move for its ultra-cheap shopping section.