Voters Understand Tariffs Will Cost Them, And Want Them Anyway | Global News Avenue

A new survey shows that most voters know tariffs on imported goods will cost them, but they are willing to pay the price for policies they believe will boost the economy.

That’s according to a Morning Consult poll of U.S. voters released Tuesday. The poll found that 45% of voters believe consumers pay most of the cost of tariffs, surpassing the 17% who believe foreign exporters bear the brunt, the second most common response. Meanwhile, 46% said a 10% tariff on all foreign products would be good for the economy, while 33% said it would be bad for the economy.

Survey reveals public support for tariffs the day after President-elect Trump announced them Steep new tariffs He pledged to order products from Mexico, Canada and China on Inauguration Day, January 20. It also paints a complicated picture of which economic policies the public supports: Voters Anger at higher prices The Biden era has helped Trump win at the polls.

What will tariffs look like?

tariffLike the one Trump wants to implement, it is designed to protect domestic companies by giving them an advantage over foreign competitors. However, economists generally agree that they increase the cost of living.

Economists say businesses pass the cost of import taxes onto consumers, while tariffs provide cover for domestic manufacturers to raise prices. They may also lead to trade war When other countries retaliate.

Indeed, Trump’s announcement of plans to impose 25% tariffs on goods from Canada and Mexico, and an additional 10% on Chinese products, prompted some forecasters to raise their expectations for inflation in the coming years.

Economists at Deutsche Bank predict that if Trump announces tariffs on Monday night, inflation measured in core personal consumption expenditures prices will reach 3.7% in 2025, higher than the previous forecast of 2.6%.