Americans Are Deeply Skeptical of Trump’s ‘Liberation Day’ Tariffs
As President Donald Trump prepares to announce his long-promised set of global tariffs on what he has dubbed “Liberation Day,” he faces a public that is unconvinced those import taxes will boost the American economy.
A Fox News poll published last month found that 69 percent of Americans believe tariffs will make products more expensive, while just 7 percent say tariffs will reduce prices. The same poll found that 53 percent of Americans believe tariffs will harm the economy, while just 28 percent say they will improve it.
Confronted with those figures during an interview on Sunday, White House economic adviser Peter Navarro brushed off any worries and argued that businesses will have to “cut their prices to absorb” the costs of tariffs.
Navarro is a true believer who has never been swayed by economic data or reasoning, but his boss does not seem to share that same nonchalance. Trump has repeatedly warned that there will be some pain associated with his new trade policies. He’s also reportedly tried ordering car companies to steer clear of price hikes in the wake of today’s tariff announcement, which will include huge new import taxes on cars and car parts.
If tariffs were the secret to prosperity, as Trump has also claimed, would such arm twisting be necessary?
The president is probably right to worry. After years of high inflation, the American public voted Trump back into office on a promise that he’d combat higher prices and strengthen the economy. If tariffs go sideways, as polls show many seem to expect, it will puncture what is seen as one of Trump’s core competencies.
That may already be happening. Only 40 percent of American
Article from Reason.com
The Reason Magazine website is a go-to destination for libertarians seeking cogent analysis, investigative reporting, and thought-provoking commentary. Championing the principles of individual freedom, limited government, and free markets, the site offers a diverse range of articles, videos, and podcasts that challenge conventional wisdom and advocate for libertarian solutions. Whether you’re interested in politics, culture, or technology, Reason provides a unique lens that prioritizes liberty and rational discourse. It’s an essential resource for those who value critical thinking and nuanced debate in the pursuit of a freer society.
