Trump's 20% Tariff Plans Could Unleash Wave Of Spending On Big Ticket Buys In Holiday Quarter, Says Economist Justin Wolfers — 'Already Hearing Anecdata'

A leading economist warns that U.S. consumers may rush to purchase big-ticket items in the fourth quarter, anticipating President-elect Donald Trump‘s proposed 20% tariff on imports.

What Happened: “I wonder whether we are going to see a burst of spending on consumer durables in Q4, as people pull forward spending on big ticket items ahead of the tariffs. I’m already hearing anecdata of this,” economist Justin Wolfers wrote on X following Trump’s victory in the 2024 presidential election.

Wolfers’ observation comes as Trump secured a decisive win over Democrat Kamala Harris, capturing 277 electoral votes and 51% of the popular vote, according to Associated Press figures. The president-elect has ...

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