{"id":2907,"date":"2025-05-21T08:57:53","date_gmt":"2025-05-21T07:57:53","guid":{"rendered":"https:\/\/vr-news.net\/2025\/05\/consumer-sentiment-continues-freefall-inflation-expectations-rise-as-a-result-of-trumps-chaotic-trade-war\/"},"modified":"2025-05-21T08:57:53","modified_gmt":"2025-05-21T07:57:53","slug":"consumer-sentiment-continues-freefall-inflation-expectations-rise-as-a-result-of-trumps-chaotic-trade-war","status":"publish","type":"post","link":"https:\/\/vr-news.net\/?p=2907","title":{"rendered":"Consumer Sentiment Continues Freefall, Inflation Expectations Rise as a Result of Trump\u2019s Chaotic Trade War"},"content":{"rendered":"

The cost of living continues to rise under President Trump, and Americans are rightfully concerned.<\/a> Today, the University of Michigan Surveys of Consumers released its Consumer Sentiment Index for May showing<\/a> sentiment has plummeted nearly 30% since President Trump took office in January to its second-lowest level on record as a result of Trump\u2019s trade policy. Inflation expectations rose to 7.3% \u2013 the highest since 1981.<\/p>\n

Despite Trump backing down on his trade war with China earlier this week, the cost of essentials continues to increase for working families, with major retailers like Walmart announcing price hikes in response to tariff chaos<\/a> and small businesses facing<\/a> massive tariff bills and shipping costs. Members of Congress held a press conference<\/a> this week to draw attention to the \u2018baby tax\u2019 the Trump Administration is placing on parents by pushing up the cost of strollers, car seats, and toys.<\/p>\n

Instead of working to address rising costs, House Republicans are slashing basic needs programs to pay for Trump\u2019s billionaire tax giveaway. The GOP bill cuts<\/a> Medicaid, nutrition assistance, and energy programs at a time when working families are struggling to cover their grocery bills, health care costs, and utility bills. As the bill moved through the Energy & Commerce Committee this week, Republicans voted<\/a> to allow big businesses to rip off working families by restricting state laws that crack down on predatory landlords<\/a>, retailers hiking prices based on personalized data<\/a>, and apps that drive down wages<\/a> for workers.<\/p>\n

Groundwork Collaborative\u2019s Chief of Policy & Advocacy Alex Jacquez released the following statement: <\/strong><\/p>\n

\u201cIt\u2019s clear that President Trump never had a plan or strategy to win the trade wars he started. While he blinked on China, it\u2019s too late for working families who are feeling the pain of higher prices and for small businesses that are impacted by higher shipping prices and supply chain snarls.
\u201cInstead of offering relief to families who are struggling to pay for groceries, rent, and other essentials, Republicans are slashing critical programs that make life more affordable to give another tax break to billionaires. This isn\u2019t leadership. It\u2019s economic sabotage. And Americans know it.\u201d<\/p><\/blockquote>\n

This week in the Trump Slump, new polling and economic indicators continue to show that President Trump\u2019s policies are tanking the economy.<\/p>\n

Economic indicators: <\/p>\n