Two-Thirds Believe Trump Tariff Plans Will Drive Up Costs

Assessment of Trump Tariff Plans and Economic Impact

According to a recent survey by Harris Poll, over two-thirds of Americans, specifically 69%, fear that President-elect Trump’s tariff plans will escalate the costs of goods across the board. The results, published by The Guardian, indicate that a significant majority believes these tariffs will lead to much higher prices on domestic products.

Political Landscape and Public Opinion

• 79% of Democrats foresee price hikes due to tariffs.
• 68% of Independents share similar sentiments, alongside 59% of Republicans.

Just days before these tariffs are proposed to take effect, Trump disclosed plans to impose new tariffs on goods imported from Mexico, Canada, and China. Specifically, he aims to implement a 25% tariff on products from Mexico and Canada and a 10% tariff on imports from China.

Consumer Behavior Shifts and Company Predictions

The Harris Poll also highlights that 76% of respondents believe that companies will raise consumer prices if Trump’s tariff policies are enacted. In anticipation of these changes, 44% of individuals are contemplating purchasing goods before Trump’s inauguration on January 20. Moreover, 62% of consumers are considering altering their buying habits for 2023 based on the anticipated tariffs.

Economic Outlook and Voter Sentiments

Notably, 51% of GOP voters believe that the proposed tariffs could have a positive impact on the nation's economic outlook, while 27% of Independents and 20% of Democrats echo similar feelings.

This survey, conducted between November 14-16 among 2,112 U.S. adults, has a margin of error of 2.5 percentage points.