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Donald Trump gets bad news about his tariff plan from Americans in new poll
In a WalletHub Fed Rate survey, 74 percent of Americans said Trump's proposed tariffs would likely lead to more inflation down the line.
www.newsweek.com
Amajority of Americans are bracing themselves for President-elect Donald Trump's proposed tariffs, according to a poll that was published on Monday.
What's New
In a WalletHub Fed Rate survey of 200 Americans this month, 74 percent of Americans said Trump's possible tariffs would likely lead to more inflation down the line as it remains above the Federal Reserve's 2 percent target.Newsweek has reached out to Trump's transition team via email for comment on Monday afternoon.
Why It Matters
Trump centered his presidential campaign on his strong economic policies, often calling into question the Joe Biden's administration's impact on the U.S. economy and high inflation.However, Trump's policies, especially his plans to implement tariffs on different countries, like China, Canada and Mexico, could cause prices to rise across a variety of sectors.
Trump said he would impose tough new tariffs on Canada and Mexico unless both countries do more to tackle the flow of undocumented migrants and drugs over their borders with the United States.
The president-elect also campaigned on a promise to introduce heavy tariffs against China until it cracks down on the production of materials used to make fentanyl as well as a possible universal tariff on all imports to the U.S.