Consumer confidence has declined for four consecutive months due to uncertainty over trade policy, with nearly three-quarters of consumers mentioning tariffs as a major concern.

After a brief 90-day pause on higher tariffs, President Donald Trump is preparing a new phase in his trade policy that will impact numerous countries. Initially announcing higher tariffs on April 2, Trump suspended them but is now moving away from negotiating with each partner.

The U.S. President stated that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will send letters indicating what their trade partners will pay to do business in the United States.