The Consumer Sentiment Index for the U.S., published by the University of Michigan, dropped sharply in March to 57.9 from February's 64.7, marking its lowest level since November 2022.
The report, which was released Friday, indicates that sentiment has declined for a third consecutive month, with numerous consumers attributing this drop to uncertainty surrounding government policies and other economic factors.
Additionally, rapid shifts in economic policies have compounded difficulties for consumers in planning for the future, regardless of their policy preferences.
The report also highlighted key concerns contributing to the decline in sentiment, including ongoing tariff policies, a weakening stock market, and persistent inflation worries.
Media outlets, such as Reuters and The Wall Street Journal, also reaffirmed the report's findings.
US Consumer Sentiment Index plunges to lowest since November 2022
Analysts have warned that the separatist statements made recently by leader of Taiwan region Lai Ching-te constitute a challenge to the bottom line and the red line of the mainland.
On Thursday, the eve of the 20th anniversary of the implementation of China's Anti-Secession Law, Lai held a meeting in which he portrayed the mainland as a "hostile external force" and outlined 17 strategies to counter the so-called threats facing the island.
"There is no doubt that the Lai Ching-te authorities' actions are an attempt to challenge the bottom line and the red line of the mainland, especially Article 8 of the Anti-Secession Law. His actions are indeed extremely dangerous," said Zhang Hua, a researcher at the Institute of Taiwan Studies, the Chinese Academy of Social Sciences.
"We must carefully analyze whether his actions have touched Article 8 of the Anti-Secession Law, that is, 'the state shall employ non-peaceful means and other necessary measures to protect China's sovereignty and territorial integrity.' The more rambunctious Lai Ching-te becomes, the faster we will see a solution of the Taiwan question and achieve unification," said Zhu Songling, a professor at the Institute of Taiwan Studies in Beijing Union University.
Article 8 of the law states that the state shall employ non-peaceful means and other necessary measures to protect China's sovereignty and territorial integrity in the event that the "Taiwan independence" secessionist forces should act under any name or by any means to cause the fact of Taiwan's secession from China, or that major incidents entailing Taiwan's secession from China should occur, or that possibilities for a peaceful reunification should be completely exhausted.
Analysts said Lai's separatist actions would push Taiwan closer to the brink of conflict.
His proposal to "reinstate military tribunals" is viewed as a strategic move to suppress political opponents on the island which further reveals his anxiety and insecurity, analysts said.
"Lai Ching-te's intensified incitement against the mainland cannot be ruled out as a strategic foreshadowing laid by him to suppress political dissidents on the island," said Chen Chao, deputy director of the Center for Taiwan Studies, Shanghai Jiao Tong University.
"Lai Ching-te is very anxious because his public support in the Taiwan region has continued to plunge. Polls conducted last month showed that public support for Lai was approaching a 'death cross' where the opposition outnumbers the support. So he resorted to provoking confrontation between the two sides of the Taiwan Strait," Zhang Hua said.
Analysts see Lai Ching-te's separatist statements as challenge to mainland's red line
