A recent poll conducted by Reuters/Ipsos has found that only 29% of Americans support tariffs that could lead to higher prices, sparking concerns about the potential economic impact on household finances. The poll, which surveyed 4,183 U.S. adults nationwide, also found that 42% disagreed with the idea of tariffs while 26% were unsure.
Economists warn that tariffs could increase inflation, particularly if they target major importers such as China, Mexico, and Canada. These countries are among America’s top trading partners, accounting for around 10% of U.S. consumer spending.
President-elect Donald Trump has pledged to impose a 10% universal import tariff and a 60% tariff on Chinese imports, citing the need to boost American industry. However, his plan may face resistance from Americans who are skeptical about the benefits of tariffs.
The poll’s findings suggest that many Americans do not believe tariffs will help U.S. workers or improve their personal finances. In fact, only 17% of respondents agreed that when the U.S. charges tariffs on imported goods, it is good for them personally.
Experts warn that a trade war could have far-reaching consequences, including higher inflation and potential retaliation from trading partners. The situation highlights the challenges Trump will face in implementing his tariff plan, which has sparked concerns about its economic impact.
The poll’s results come as Trump prepares to take office on January 20th, marking a new chapter in his administration’s trade policies.
Source: https://www.reuters.com/world/us/americans-are-sour-tariffs-if-they-spark-inflation-reutersipsos-poll-finds-2024-12-13