In a WalletHub Fed Rate survey, 74 percent of Americans said Trump's proposed tariffs would likely lead to more inflation down the line.
A majority of Americans are bracing themselves for President-elect Donald Trump's proposed tariffs, according to a poll that was published on Monday.What's NewIn 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.
When companies face higher prices for imports, they pass those costs onto consumers in the form of increased prices, which contributes to inflation on goods.'Thompson said the high number of Americans who think Trump's policies could actually lead to worse inflation and economic realities is not surprising even amid Trump's strong Republican voting base.'It is not surprising when tribalism takes hold, emotions often override logic, particularly when it comes to economics.
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