Photo: Jim MacKay/WBZ NewsRadio
HANOVER, Mass. (WBZ NewsRadio) — As President Donald Trump shows no signs of removing tariffs, people are nervously watching prices.
Economists have warned that the Trump Administration’s tariffs could cause dramatic price hikes in the U.S. and beyond, as uncertainty remains. In the first week of April, J.P. Morgan increased its probability of a global recession from 40 percent to 60 percent.
WBZ NewsRadio's Jim MacKay spoke with grocery shoppers outside the Market Basket in Hanover, Mass. Leslie said she believes these tariffs are just the tip of the iceberg.
“It really sucks. We already have a hard time affording groceries. It’s only going to get worse with higher and higher tariffs,” said Leslie. “It’s pretty much just buy the essentials [and] buy what you need to make it through the week.”
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Nancy said she thinks there will be more people opting for things like boxed mac and cheese and ramen.
“I think people are going to buy less quality food,” said Nancy.
Bill said he hopes to close on a car before the tariffs really kick in.
“We’re thinking of replacing my wife’s car. It seems on paper that they should end up increasing in price, so we want to be at least somewhat proactive,” said Bill.
WBZ NewsRadio’s Jim MacKay (@JimMacKayOnAir) reports.