Voters Sour on Trump’s Tariff Proposal
A recent NBC News poll has revealed that a majority of voters are less likely to support a candidate who promotes universal tariffs, dealing a blow to former President Donald Trump’s cornerstone economic proposal.
The Numbers Don’t Lie
According to the poll, 44% of respondents said they would be less inclined to vote for a candidate supporting a tariff as high as 20% on imports across the board. Meanwhile, 35% said they would be more likely to support someone with that tariff proposal, while 19% said it made no difference.
Trump Stands Firm
Despite the unpopularity of universal tariffs among voters, Trump has dug in on the hardline proposal. He believes that high tariffs will encourage companies to build factories in the United States, thereby creating jobs and generating revenue.
Economists Weigh In
However, some economists have criticized Trump’s approach, noting that U.S. importers bear the burden of import taxes, which can lead to higher prices for consumers. They argue that such a policy could reheat inflation just as it has begun to cool.
GOP Pushback
Even some Republicans have expressed concerns about Trump’s tariff proposal. Senate Minority Leader Mitch McConnell has stated that he is not a fan of tariffs, citing their potential to raise prices for American consumers.
Democratic Opposition
Vice President Kamala Harris has capitalized on the backlash, branding Trump’s tariff proposal the “Trump sales tax.” The Biden-Harris administration has taken a hawkish approach to trade policy, but maintains that its targeted tariff approach is distinct from Trump’s sweeping proposals.
A Different Approach
Treasury Secretary Janet Yellen has emphasized that the administration’s approach is narrowly focused on strategic sectors, rather than imposing broad-based tariffs. She notes that economists have overwhelmingly warned that such an approach would harm economic growth.
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