Trump tariff threats have Americans ‘doom spending.’ Here’s why that’s bad

From the rising cost of eggs and the staggering cost of housing, the constant chaos from mass government firings to the tariff threats against Canada and Mexico, Americans are struggling to cope with rampant economic uncertainty the best way they can: doom spending.

One in 5 Americans say they are buying more than usual, “purchasing items excessively or impulsively in response to fears or anxiety about future events,” according to a recent report by CreditCards.com. The act of buying things as a way to self-soothe and cope with discomfort can be particularly problematic, especially when you’re worried about your personal finances and the economy at large in the first place.

The survey, published in February 2025, examines consumer spending habits since President Donald Trump took office and focuses on the role economic factors and uncertainty play.

Here are some key findings.

Americans are buying more, driven by Trump tariffs

President Trump’s proposed tariffs are weighing heavily on many people’s minds. In fact, more than one in 4, or 29%, of respondents say fear of Trump’s tariffs greatly impacts their desire to make additional purchases.

Trump has said, starting March 4 (next week!), he will slap a 25% tariff on goods from Canada and Mexico and may in the future even broaden the scope of goods to include automobiles, pharmaceuticals, and semiconductors—all of which means higher prices for American consumers already dealing with cost of living concerns and inflation.

Digging a little further, the report shows 19% of respondents say they are buying significantly (5%) or slightly more (14%) items than usual, and of this group, 29% say fear of Trump’s tariffs greatly impacts their desire to make additional purchases, while 37% say it’s having some impact.

Another pandemic also prompts spending

The report found that 3 in 10 respondents are purchasing items to prepare for another pandemic. Meanwhile, 42% say they are, or will start, stockpiling items, mainly food and toilet paper.

Also, since November 2024, 28% of respondents say they have made one large purchase (over $500) and 21% say they soon plan to. The most common of those large purchases were electronics (39%), home appliances (31%), and home improvement materials (25%). People also bought furniture (22%) and cars (17%).

Finally, and perhaps the most worrisome finding of the report, is that 34% of respondents say they are likely to worsen or go into credit card debt this year to secure purchases.