A new survey of 1,057 U.S. consumers by supply chain software provider JDA reflects relative public disinterest in the tariff-centric China trade conflict—that is, until people realise how their bank accounts could stand to lose in the Sino-American saga.
While most (85 percent) expressed some familiarity with the protracted war, nearly two-thirds (65 percent) claimed they haven’t amended their spending behaviors in any way as a result, but the vast majority (83 percent) are at least a little bit worried the dispute will send retail prices soaring.
Despite that evident concern, when asked how the trade war could affect their holiday shopping budgets versus last year, most (46 percent) said the specter of tariffs would not change their planned spending, though an equal percentage claimed they’ll be tightening the purse strings somewhat—or significantly.
The next round of tariffs is poised to take effect on Oct. 15, when the 25 percent duty on $250 billion worth of China imports is set to rise to 30 percent unless President Trump and the Chinese delegation hammer out a new deal at their meeting Friday. But it’s the planned Dec. 15 tariffs on $300 billion worth of goods that lands at a most inopportune time in the holiday shopping season.
However, the JDA’s survey reveals that nearly one-third (31 percent) of consumers didn’t intend to shop earlier to avoid the potential tariffs while another 20 percent had no idea of what they planned to do.
