Sixty-one percent of U.S. consumers and 86% of Canadian consumers expect tariffs to negatively affect their country’s economy this year.
That’s according to a survey from Chicago-based global marketing research firm NIQ. NIQ surveyed nearly 10,000 consumers in the United States and Canada between March 25 and March 31 as the Trump administration acted quickly on proposed tariffs with China, Mexico, Canada and more countries.
NIQ’s survey took place before President Donald Trump’s “Liberation Day” event on April 2, where he said he would impose a minimum baseline tariff of 10% on all goods from all countries, along with reciprocal tariffs.
“It’s critical to stay vigilant on consumer reaction to these shifts,” NIQ said in the report.
Price concerns tied to tariffs are mainly on necessities across both the United States and Canada. The survey found Americans are extremely or very concerned about tariffs impacting pricing in:
- Fresh produce 43%
- Eggs 42%
- Poultry 37%
- Dairy 36%
- Coffee 34%
Concerns were lower for non-staples like soft drinks, salty snacks and cosmetics, NIQ said.
“Consumers are particularly concerned about pricing impact on household staples like fresh produce,” Jason Boyd, North America director of consumer behavior for NIQ, said. “Concern is lower for categories like snack foods—it remains to be seen if people will cut back on these types of products in order to feed their family, but NIQ will be monitoring this.”
NIQ also found that 36% of Americans and 62% of Canadians surveyed said they would buy more domestically manufactured products in their respective countries due to tariffs.
Other anticipated behavioral changes due to tariffs, according to the survey, include:
- 35% of Americans and 28% of Canadians would put off a major purchase, like on a home, car, appliance or furniture.
- 7% of Americans and 6% of Canadians would make a major purchase now to avoid the possibility of a higher price later.
NIQ plans on conducting three more surveys this year to see how consumers’ perceptions change over time.
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