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Donald Trump’s tariffs spook consumers weary of inflation

The high spirits that greeted the US president’s election triumph in November have faded

US consumers are growing increasingly anxious as President Donald Trump rolls out an agenda that includes tariffs on an array of trading partners. 

A pair of surveys closely watched on Wall Street have revealed a darkening outlook for the economy that stands in contrast to the ebullience that greeted Trump’s election in November. 

The sombre mood among consumers — a pillar of America’s robust economic growth — has worried some investors and stoked a decline in Wall Street’s S&P 500 equities index in recent days.

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