Trump tariffs add pressure as US households face higher costs

Consumer spending in the U.S. rose 0.6% in August, or 0.4% when adjusted for inflation, according to the Commerce Department. But many Americans remain uneasy about the economy as living costs climb. A University of Michigan survey found 44% of consumers say high prices are hurting their finances, with lower-income households beginning to pull back. Economists warn President Trump’s new tariffs—including 100% on some pharmaceuticals, 25% on trucks, and duties on furniture—could push prices even higher, weighing on consumer sentiment and long-term economic growth.