Consumer confidence in the United States deteriorates sharply in March

PANews reported on March 14 that according to Kingshin, U.S. consumer confidence plummeted and inflation expectations soared in March due to concerns that U.S. President Trump's comprehensive tariff policy would push up prices and weaken the economy. Trump's tariffs triggered a trade war. The University of Michigan's consumer confidence index released Friday fell to 57.9 from its final value of 64.7 in February. The index erases all gains after Trump won the election last November. Consumers' 12-month inflation expectations jumped to 4.9% from 4.3% in February. Over the next five years, consumers expect inflation to reach 3.9%. The shock of tariffs and the escalation of the trade war have disrupted financial markets and triggered a sell-off in the stock market, which has also led to a downturn in sentiment this month. A poll showed that 57% of respondents believed Trump's move to revive the economy was too unstable, including sharp cuts in government spending and massive firing of federal workers, while 53% believed that the tariff war would do more harm than good.