Not too happy with trade policy
Fewer than half of Americans expect Trump’s tariffs to do much to help economy, while a lot doubt the recently-announced taxes on imports will increase jobs or wages.
washington — Fewer than half of Americans expect President Donald Trump’s tariffs to do much to help the US economy, but their widespread unpopularity hasn’t led most Republicans to stray from supporting the president’s trade policy as the 2018 midterm elections approach.
Majorities of Americans also doubt the recently announced taxes on imports will increase jobs or wages at home, according to a poll released by The Associated
Press-NORC Center for Public Affairs Research.
The survey found that 35 per cent of Americans think the tariffs will leave them worse off financially, while only 19 per cent expect improvement. Forty per cent expect them to help the economy, while 44 per cent expect them to hurt and 16 per cent expect them to make no difference.
More specifically, about 4 in 10 think the policy will lead to an increase in jobs. Only about 3 in 10 expect wage gains. Moreover, 72 per cent of Americans say the import levies will cause prices for everyday goods to climb. The agreement about tariffs setting off inflation is bipartisan, with Republicans nearly as likely to express concern about rising prices as Democrats.
“Tariffs don’t help anybody,” said Raymond Brown, 65, a retired truck driver from Rio Grande, New Jersey. “It seems like the tariffs are imposed and the corporations just pass that tax onto the consumer.”
A registered Republican, Brown worries that he would need to pay more for a new car because of the steel and aluminium tariffs the Trump administration has added to the cost of importing the metals.
tariffs don’t help anybody. It seems like the tariffs are imposed and the corporations just pass that tax onto the consumer Raymond Brown, retired truck driver
He said he fears auto costs could rise even more if tariffs are placed on electronic equipment made abroad that is installed in cars assembled in the US.
Yet despite concern about his trade policies, the economy is a relative source of strength for Trump. While only 38 per cent of Americans approve of his handling of the presidency, 51 per cent approve of his stewardship of the US economy, according to the poll.
The president has benefited from a rising stock market and low 3.9 per cent unemployment rate, gains that reflect, in large part, an economic expansion that began during Barack Obama’s presidency.
Trump’s signature economic achievement is the $1.5 trillion in tax cuts that will take effect over the next decade. While tax cuts provided the economy with a jolt of stimulus, they have garnered lukewarm support from Americans. Forty-five per cent of Americans approve of the president’s handling of taxes, while 54 per cent disapprove.
Michael Schulz, 66, a retired engineer in Alabama, said he has received job offers because of the tight labour market and companies’ need for experienced workers. A Trump voter in 2016, Schulz said the president is “doing a pretty fair job”. However, he added that he hasn’t seen any boost so far from the tax cuts. “Maybe when it comes to tax time next year,” he said. “It appears to have benefited the business sector.”
Tariffs — Trump’s major economic focus in recent months — could prove to be a risk for the president among the broader public. Overall, about 6 in 10 Americans disapprove of how the president is handling trade negotiations with other countries. It’s something of a rebuke to Trump, a real estate tycoon and celebrity who sold himself to voters as a master negotiator.
Some of the frustration with Trump comes from his eagerness to “carpet-bomb” other countries with tariffs without having a clearly stated strategy for helping workers at home, said Jordan Thompson, 29, who works in information security in Washington state.
“I’m not a great fan of how he interacts with other countries, how he interacts with citizens, how he tries to manipulate everything so that it’s what works for him,” said Thompson, who said he didn’t vote for Trump.
The Trump administration has portrayed the tariffs as a cornerstone of its economic policy, saying these taxes will help extract more favorable terms of trade with China, Canada, Mexico, the European Union and elsewhere.
“Tariffs are the greatest!” the president declared on Twitter last month. —