US consumer sentiment tumbles as trade war fears grow

As consumer sentiment falls, Americans shoppers stock up on supplies before tariffs impact prices, on April 10 [Damian Dovarganes/AP Photo]

United States consumer sentiment plunged in April, marking the fourth month in a row of declines – widely seen as a pointed reaction to President Donald Trump’s escalating trade wars, which have fuelled concerns over potential job losses and rising inflation.

The preliminary reading of the University of Michigan’s closely watched consumer sentiment index, released Friday, fell 11 percent in March to 50.8 percent, the lowest since the depths of the COVID-19 pandemic. Over the past year, sentiment tumbled 34 percent.