Almost Half Believe Tariffs Hurt U.S. Economy

A recent Monmouth University poll has shown that around half, or 47 percent, of U.S. citizens surveyed hold an opinion that the tariffs imposed by President Donald Trump are detrimental to the country’s economy, while only a quarter think they help the American economy.

The poll also found that 62 percent of Americans don’t agree with the President’s persistent claim that China will pay for the tariffs, but rather think U.S. consumers will be the ones feeling the toll of those duties.

A new study by a New York Federal Reserve economist confirms that U.S. households will bear the brunt of the tariffs that will cost a typical family $831 a year. Goldman Sachs came to similar findings, assessing that “the costs of U.S. tariffs have fallen entirely on U.S. businesses and households.”

Regarding whether the tariffs are beneficial to the country, 32 percent believe they are, another 37 percent believe they are bad and the rest are unsure about their effect, The Hill informs.

President Trump has imposed steep tariffs on $250 billion worth of Chinese products, threatening to do so for another $300 billion worth, a move he is confident will force Beijing to reach a trade deal with Washington.

Shortly after the latest batch of tariffs, China responded with its own retaliatory duties on American businesses.

The poll, conducted among 802 Americans, likewise shows that Republicans were more inclined to perceive the tariffs as positive, with 52 percent being of that opinion, while only 34 percent and 13 percent of independents and Democrats, respectively, believe so.

President Trump is set to meet with his Chinese counterpart at the G20 economic summit in Japan next month, but the chances of a deal are very slim.

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