A trade agreement last month between the U.S. and China slashed tit-for-tat tariffs between the world's two largest economies and triggered a surge in the stock market. Within days, Wall Street firms softened their forecasts of a downturn. ????? ???????

In recent weeks, Trump has dialed back some of his steepest levies, easing costs imposed upon companies and alleviating concern about a sharp surge of inflation. Importers typically pass along a share of the higher tax burden in the form of price hikes. ????????????

"Consumer confidence weakened in June, erasing almost half of May's sharp gains," Stephanie Guichard, senior economist for global indicators at the Conference Board, said in a statement. ?????  

The decline in consumer confidence took hold across all age, income demographics and political affiliations, the Conference Board said, noting an especially large dropoff among Republicans. ????? ???????  

The fresh data resumes a trend of worsening consumer confidence that stretches back to the outset of 2025. Last month, a burst of enthusiasm appeared to snap the malaise but fresh data suggests shoppers remain concerned about the path of the U.S. economy . ????????????