A rising number of Americans are worried about Donald Trump’s aggressive tariff policies, even as the former president reassures the nation that his approach will strengthen the economy. A new Harris Poll conducted in early March reveals that 72% of Americans are concerned about tariffs, a notable increase from 61% in January.
Trump has defended his economic strategy, claiming on Truth Social that tariffs are “pouring money” into the U.S. economy. However, skepticism is mounting as his administration continues to implement sweeping tariff hikes on imports from key trading partners. The latest measures include an additional 20% tariff on Chinese imports and increased levies on steel and aluminum. Trump has also threatened to impose broad “reciprocal” tariffs on global imports, as well as universal tariffs on products from Canada and Mexico.
Partisan Divide on Economic Concerns
The poll highlights a sharp divide in public opinion along party lines. While 90% of Democrats and 69% of independents express concern over tariffs, only 57% of Republicans share the same sentiment. Similar trends are evident in attitudes toward a potential recession, with 89% of Democrats and 75% of independents worried, compared to 65% of Republicans.
The shift in economic perception is striking. Under Joe Biden’s presidency last year, 70% of Republicans believed the economy was worsening. That number has since dropped to 26%. Conversely, concern among Democrats has surged, with 69% now viewing the economy as declining, up from 36% last year.
Tariff Justifications and Economic Uncertainty
The justification for tariffs also varies by party. While a strong majority of Republicans—79% for Mexico and 75% for Canada—support the measures, only about 30% of Democrats and 40% of independents agree.
Despite these partisan differences, economic anxiety transcends political lines. Concerns over inflation and the cost of living remain high, with 91% of Democrats, 88% of independents, and 82% of Republicans citing economic instability as a major issue. Many Americans worry about affording basic expenses amid the shifting economic landscape.
Escalating Trade Tensions and Market Volatility
Trump’s commitment to tariffs has sparked international backlash, leading to retaliatory measures against American exports. When Ontario threatened tariffs on U.S. electricity exports, Trump responded by doubling tariffs on Canadian steel and aluminum to 50%, only relenting after Ontario backed down. Similarly, after the European Union imposed tariffs on $28 billion worth of U.S. goods, including a 50% tax on American bourbon, Trump countered with a 200% tariff on European alcohol imports.
These escalating trade tensions have fueled uncertainty on Wall Street. Despite some stability in labor market and inflation data, financial markets have experienced turbulence as investors grapple with the potential long-term effects of Trump’s tariff policies.
Interestingly, a majority of Americans believe the tariffs may not last long. The poll found that 61% of Republicans, 60% of Democrats, and 55% of independents expect the tariffs to be temporary. However, experts caution that even short-lived policies can leave lasting economic impacts.
“Most Americans seem to believe ‘this too shall pass,’” said John Gerzema, CEO of Harris Poll. “But there’s growing concern that tariffs could have an enduring and unpredictable effect on the economy, whether they’re reversed quickly or not.
As the debate over tariffs continues, Americans remain divided on the long-term consequences of Trump’s economic strategy. While some hold out hope for a positive outcome, others brace for prolonged financial instability in the face of escalating trade conflicts.
About the Author
