In the upcoming Logica® Future of Money Study, we explored how tariffs are affecting American consumers' financial well-being. More than half (52%) of Americans believe tariffs will negatively effect them personally in the next six months. Rising prices are a primary worry, followed by the impact on the national and local economy—as well as impact on the availability of products and jobs. Additionally, our study found that almost six in ten Americans (57%) feel the economy will be negatively impacted by tariffs—and that people see tariffs harming both the local and national economy.
The Future of Money insights reveal a strong link between economic vulnerability and perceptions of tariffs. Americans expecting negative impacts from tariffs are more likely to have lower incomes, job insecurity and financial challenges. They also are more likely to be spending less, saving less, and contributing to a 401(k) less—reflecting the broader financial impact tied to tariffs.
Despite the widespread concern, our study also uncovered a notable divide in how Americans perceive the impact of tariffs. While the majority focus on the adverse effects, one in five (22%) believe tariffs will have a positive impact on them personally, saying that tariffs help strengthen the national and local economies and help compete with foreign companies, among other impacts.
To learn more about how tariffs are shaping financial well-being and what this means for financial firms and advisors, explore the full findings in our Insights Kit.
Related: The Future of Payments: What’s Next for Debit, Credit, Mobile & More