What's Inside

On February 1, 2025, President Trump implemented a 25% tariff on imports from Canada and Mexico, as well as a 10% tariff on all goods from China, as promised during his presidential campaign. Now that the tariffs have been implemented, we explore proprietary Coresight Research survey data on what US consumers believe the impact of these tariffs will be.

Proprietary survey data in this research report include:

• How US consumers believe the tariffs will impact the overall economy and their personal finances
• The potential drawbacks and benefits of the new tariffs
• How selected respondents will change their shopping behaviors to avoid the effects of tariffs

Companies mentioned in this report include: Best Buy, Shein, Temu, TJX Companies, Walmart

Other relevant research:

• Retail 2025: US Macro, Consumer and Retail Outlook
• Proposed US Tariffs and Their Impacts—Price Hikes Likely, Making Diverse Supply Chains a Must
• The Coresight Research US Consumer Survey Databank provides additional insight into US consumer behaviors from our weekly surveys.
• The US Retail Sales Databank features retail sales values and year-over-year growth, in total and by sector, by year and by month. This Databank is updated monthly.