President Trump campaigned on implementing tariffs, a policy many believe will drive up prices. Since his election in November 2024, Trump has continued to push forward with his tariff agenda. Most recently, in April, he announced tariff plans that sent the stock market tumbling and reignited fears of a potential recession.

CreditCards.com surveyed 1,000 U.S. adults in April to understand how their spending habits have shifted since Trump’s election and how fears of rising prices influence their financial decisions. This report follows surveys we conducted in February and December .

Key findings:

1 in 5 Americans are doom spending

37% of Americans have stockpiled items since November 2024, and an additional 14% plan to start stockpiling soon

48% of Americans have made large purchases since November 2024

Most Americans who’ve stockpiled or made large purchases cite fear of rising prices, though Trump voters were less likely to say so than Harris voters

More than half of Americans will spend atypically…