In April, American consumer confidence slightly declined after a significant drop for four consecutive months.

Joanne Hsu, director of consumer surveys at the University of Michigan, stated that the consumer confidence index remained relatively stable this month, decreasing only slightly by 1.4 points after a significant drop over the past four months. Market confidence has fallen by almost 30% since January 2025. Nearly three-quarters of consumers mentioned tariffs spontaneously, higher than the nearly 60% in April; uncertainty in trade policy continues to dominate consumers' views on the economy. The survey was conducted between April 22 and May 13, ending two days after both the US and China announced a temporary suspension of some tariffs. After the temporary reduction in tariffs, many survey indicators show signs of improvement, but these initial improvements are too small to change the overall situation - consumers continue to hold a pessimistic view of the economy. So far, the initial reaction is in line with a slight uptick in sentiment after the partial suspension of tariffs on April 9, although sentiment continues to trend downward.