A recent survey done by Clarify Capital shows 59% of Americans are cutting back on spending after absorbing tariff-induced price hikes.
Visitors and locals say groceries are hitting the hardest.
“You go to the grocery store and you see something for like $5 for this little, small little thing of strawberries," Donna Murphy said. "I'm going to pass.”
In addition to the 59% of people spending less money, 41% are switching to cheaper brands, and 39% are taking on side jobs. Non-essential items have been cut by 70% of survey takers, while 49% are stockpiling goods, and 32% are delaying spending their savings.
Recently retired educator Donna Murphy says one of her daughters was recently laid off and the other's job relies on imported goods.
"When they start to talk about Social Security and things like that and Medicare and things that are going to be pulled away from a generation that's worked all their lives, that's a huge concern," Murphy added.
Those spending money using their 401K and savings say they have less money than they thought they would. Trips that were pre-planned have been canceled.
“We have a lot less money than we thought we did, you know," Audrey Perlman said.
“All of a sudden with the uncertainty of the tariffs, other decisions, on Medicare, Medicaid, Social Security, and everything," her husband Steve Perlman said, "many things are up in the air that we never expected to be up in the air.”
Governor Gavin Newsom sued the Trump Administration last week over the imposed tariffs. California is currently one of 12 states suing the administration.
