Donald Trump's Tariff Plans Gain Support from U.S. Voters, Multibagger Poll Shows
By Jason Lange
In a new Multibagger/Ipsos poll, a narrow majority of U.S. voters expressed support for Donald Trump's campaign promise to increase tariffs on imported goods, especially from China. This indicates his economic edge over Vice President Kamala Harris, his rival in the upcoming election. Despite both candidates pledging tax cuts, voters perceive Trump as more likely to reduce the $35 trillion national debt, even though experts suggest otherwise.
The poll, conducted on Sept. 11-12, revealed that 56% of registered voters are more inclined to back a candidate advocating for a 10% tariff on all imports and a 60% tariff specifically on Chinese imports. Conversely, 41% are less likely to support such a candidate. While Harris holds a 5-percentage-point lead over Trump nationally, the election's outcome will largely depend on battleground states.
Trump's advantage lies in his economic policies and his success in portraying economic competition from countries like China as the root cause of U.S. economic challenges. Despite the pandemic's impact in 2020, the economy flourished under Trump, with low unemployment rates and tax cuts for consumers. However, the national debt soared during the pandemic.
This year, Trump has proposed various tax cuts, including eliminating income tax on tipped income, a measure also supported by Harris. The idea of exempting tips from taxes has garnered 70% support from registered voters.
While Trump dubbed himself a "tariff man" for imposing tariffs on Chinese goods, experts, including economists at Goldman Sachs, are cautious about such policies, predicting a slowdown in the economy. Harris has highlighted these concerns and emphasized the potential increase in national debt under Trump's plans.
The poll indicates that 37% of voters believe Trump is more likely to focus on reducing the debt, compared to 30% for Harris. Budget forecasters estimate Trump's tax proposals could add over $3 trillion to federal deficits over a decade, while Harris' plans may reduce the debt or add less than $2 trillion.
When it comes to priorities like fostering a business-friendly environment and lowering everyday prices, voters lean towards Trump. However, Harris leads in areas like affordable healthcare and infrastructure development.
Overall, the poll gathered responses from 1,405 registered voters online, with a margin of error of around 3 percentage points.
In summary, the poll reveals that U.S. voters are divided between Trump and Harris based on their economic policies. Trump's focus on tariffs and debt reduction appeals to many, despite concerns from experts. Harris, on the other hand, emphasizes affordability and infrastructure. The outcome of the election could have significant implications for the economy and individual finances, making it crucial for voters to understand the candidates' proposals and their potential impact on their lives.