The majority of Americans are preparing for higher prices on a wide range of consumer goods after President Donald Trump’s announcement of new comprehensive tariffs on imports from most of the world, according to an Ipsos survey reported by Reuters.
The three-day survey revealed that 73% of respondents believed that prices for everyday items would increase in the next six months as new tariffs come into effect on nearly all imports.
Only 4% of those surveyed expected prices to fall, while the rest anticipated no change or did not respond to the question.
Trump’s announcement last week of the largest increase in U.S. tariffs in decades sent shockwaves through Wall Street, as many economists predicted the tariffs would lead to higher prices and a recession in both the U.S. and globally.
Around 57% of survey participants, including a quarter of respondents from Trump’s Republican Party, opposed the new tariffs, which include at least 10% tariffs on imports from almost every country.
About 39% of respondents supported the new tariffs, and 52% agreed with the Trump administration’s argument that other countries had taken advantage of the U.S. in international trade.
Trump has frequently cited this viewpoint as a reason for imposing new trade barriers, arguing that they would spur a boom in U.S. manufacturing.
Meanwhile, 44% of respondents disagreed with this view. Americans were largely divided along party lines regarding the decision to impose higher tariffs on imports.
Half of those surveyed, including almost all Republicans, agreed with the statement that any short-term “pain” was worth it to make the U.S. stronger in the long run.
The other half, including nearly all Democrats, disagreed. The survey, conducted online and nationwide, polled 1,027 American adults.
