US: American Voters Wary Of Higher Tariffs

Morning Consult has published an “initial assessment of how U.S. voters view tariffs,” finding that: “Trump’s longstanding support for tariffs coupled with executive powers that will facilitate their implementation make additional restrictions almost a foregone conclusion.”

• The report notes: “More voters than not think Trump will act on his campaign promises to enact tariffs even as many don’t fully understand the underlying mechanics and think U.S. consumers will ultimately bear the cost of them.”
• “A plurality of voters say 10% blanket tariffs would benefit the U.S. economy. But higher tariff rates — even if limited to a single country like China or Mexico — see declining levels of perceived benefits, such that for all other Trump administration tariff proposals we examine, more Americans than not think they will hurt the economy.”
• The report comes as US President-elect Donald Trump filled two key positions on his economic team, nominating Jamieson Greer, chief of staff to Trump’s first term USTR Robert Lighthizer, to serve as his Trade Representative; and Kevin Hassett, a previous senior advisor to Trump, to direct the National Economic Council.
• Bloomberg reportsthat Greer “provided a roadmap” for the policies the new administration might pursue, including “action to prevent Chinese companies from relocating to other countries to dodge US tariffs”, in May testimony before the US-China Economic and Security Review Commission.
• According to Bloomberg, Greer called for Congress to revoke Beijing’s “permanent normal trade relations” status and impose new, higher tariffs on Chinese goods.