Despite US President Donald Trump’s recent decision to pause most tariffs for 90 days and grant a waiver for electronics imports, skepticism remains among the American public. A CBS News/YouGov survey conducted from April 8 to 11 reveals that a significant majority believe tariffs will lead to price increases in the short term, with nearly half feeling that Trump’s policies have negatively impacted their finances.
Since taking office, Trump has implemented unpredictable economic and trade policies, focusing heavily on tariffs. He has imposed 25 percent tariffs on steel, aluminum, and automobiles, along with 145 percent tariffs on China and other rates on various countries. Recently, the temporary suspension of higher tariffs and the waiver for electronics, such as computers and smartphones, provided some relief to the markets.
However, the survey indicates that 75 percent of Americans expect prices to rise due to tariffs. Furthermore, 65 percent believe the economy will worsen in the short term, while 42 percent foresee long-term negative effects. Importers typically pass increased tariff costs onto consumers, meaning it is not foreign countries that bear the costs, but American buyers.
Interestingly, there is some support for Trump’s manufacturing policies, with 49 percent believing tariffs will create jobs in that sector. Despite this, public sentiment largely reflects the view that while the goals may be sound, the execution is flawed, with 51 percent appreciating the objectives but 63 percent disapproving of the methods.
Economists warn that despite the pause, the US economy still faces significant challenges. Many analysts maintain that the risk of recession remains high, with Goldman Sachs estimating odds at 45 percent and Moody’s at 60 percent. Concerns about ongoing trade tensions and volatility in the bond markets persist, indicating that the economic landscape remains precarious.
