With inflation showing signs of heating back up, American voters are taking a dimmer view of of president Donald Trump's signature economic policy.
Bloomberg reports that Trump "risks American consumer backlash" if he follows through on threats to slap tariffs on all imported goods from Mexico and Canada, as a new Harris poll conducted on behalf of Bloomberg shows 60 percent of respondents believe that the tariffs will raise prices on everyday consumer goods.
"While many of Trump’s proposed levies are not yet enacted, the findings signal that his plans for a tariff onslaught risk political blowback — and that his messaging on the issue hasn’t landed with many consumers," the publication writes.
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Even before the tariffs have kicked in, Bloomberg adds, Americans have reported feeling the pinch of higher prices during Trump's first month back in office and "some 61 percent of US adults said they’d noticed an increase in grocery prices in the last month."
Eliza Winger, US economist for Bloomberg Economics, says that Trump going through with blanket 25 percent tariffs on Mexico and Canada would likely be poorly timed because "people are just worried about anything when it comes to inflation because prices are already so high" and "they are more sensitive to any sort of headline when it comes to inflation numbers."
