HANOVER, Mass. (WBZ NewsRadio) — As the Trump Administration prepares to roll out tariffs on trade partners around the world, local consumers are bracing for impacts.
President Donald Trump has repeatedly referred to April 2 as “Liberation Day,” despite the fact that experts have said that tariffs typically harm consumers. According to researchers at Yale University, households would spend an estimated $3,400 to $4,200 more with a 20 percent universal tariff in place.
Hanover Crossing features lots of retail shops and restaurants, but many customers are planning to take a step back from spending. WBZ’s Jim MacKay asked shoppers how they plan to react to the tariffs.
“I think I’ll buy less. You have to be careful about shopping. Buy what you need only,” said Oscar.
“I feel that’s terrible because now we have to budget even more,” said Nancy.
Ron from Hingham, Mass., said he was just trying to make sense of it all.
“I can understand, perhaps, with China that they want to change China’s behavior in terms of fairness in manufacturing. [If] 10 and 20 and 30 percent tariffs go on $20,000 to $30,000 vehicles, that’s a lot of money for the average American,” said Ron.
WBZ NewsRadio’s Jim MacKay (@JimMacKayOnAir) reports.