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Jun 1, 2025  |  
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Annabella Rosciglione


NextImg:Retail sales see large boost last month ahead of tariffs - Washington Examiner

U.S. retailers reported high earnings in March as consumers planned ahead of President Donald Trump’s “reciprocal tariffs” imposed on nearly every nation.

Retail sales increased 1.4% in March compared to February, the Commerce Department said Wednesday. That figure is up from February’s 0.2% gain, which was, at the time, the highest monthly gain in retail sales since January 2023.

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Cars and auto parts sales largely drove the increase as spending on cars, trucks, and auto parts increased 5.3% compared to February. Trump enacted a 25% tariff on cars and auto parts, which kicked in last week.

Other sectors also saw sales increases. Electronics stores, sporting goods retailers, clothing stores, and accessories stores all saw an increase in sales. Grocery stores and online retailers saw a 0.1% increase. Restaurants had a 1.8% increase.

Economists have said that retail sales will likely fall in the coming months.

“With the economy set to cool sharply in the coming months as tariffs take their toll, price-sensitive consumers are poised to become more judicious with their spending and reduce their nonessential purchases,” EY Senior Economist Lydia Boussour wrote Wednesday.

GOP ANXIETIES PEAK AS TRUMP’S ‘LIBERATION DAY’ TARIFFS ARRIVE

Trump has enacted a 10% baseline tariff on most countries, with imports from China getting taxed at a combined 145%. Imports from Canada and Mexico face tariffs of up to 25%. In addition to cars and auto parts, steel and aluminum are tariffed at 25%. China has placed a 125% tariff on U.S. goods.

Trump’s trade war has decreased consumer sentiment in the U.S. Consumer sentiment dropped 11% last month, reaching the lowest level since 1952.