A CreditCards.com report revealed that one in five Americans are making extra purchases due to concerns over President Donald Trump’s tariffs.

The study found that 22% of respondents said Trump’s planned tariffs had a significant impact on their large purchases, with 30% reporting some effect. Fears of escalating prices have prompted many to stockpile essentials like non-perishable food, toilet paper, and medical supplies.

Tariffs, which increase the cost of imported goods, often force businesses to absorb expenses or pass them onto consumers, fuelling inflation. Wall Street remains wary that higher prices could hinder Federal Reserve interest rate cuts and slow economic growth.

The report highlighted a growing trend of “doom spending”—impulsive buying spurred by economic uncertainty—with 20% of Americans admitting to the behavior. Additionally, 23% expect to accumulate or worsen credit card debt this year.

Corporate leaders, speaking to Reuters and in conference calls, expressed concern over the unpredictability of tariff policies, warning they could disrupt global trade and push companies to relocate production to the United States.

Consumer confidence remains fragile as shifting trade policies heighten financial anxieties nationwide.