94Ha Viewpoint
Trump’s approval rating is below 40% on a range of issues including the economy, foreign policy and corruption, but he has 49% support on immigration policy.
Only a third of Americans approve of President Donald Trump’s response to rising costs of living, a new poll shows, suggesting that his tariffs on imported goods are worrying Americans.
The Reuters/Ipsos poll, released on Tuesday (March 4), was conducted before Trump’s speech to Congress. According to the poll, Trump’s approval rating is below 40% on a range of issues including the economy, foreign policy and corruption, with the exception of immigration policy, which has 49% support.
Only 31% of Americans approve of Trump’s response to rising costs of living, while 54% disapprove. Trump imposed a 25% tariff on Mexican and Canadian goods, while raising tariffs on Chinese goods from 10% to 20%. Economists warn that this will further push up U.S. inflation. U.S. inflation remained high in January, according to official data released last month. Polls show that only 31% of Americans think tariffs are a good idea, even if it means higher prices.
Trump announced on Monday that he would impose tariffs on imported agricultural products from April 2. The Consumer Association of America warned that this will push up the prices of fruits, vegetables, sugar and coffee; tariffs on Canada and Mexico may also lead to higher consumer prices.
Meat prices are also facing upward pressure. The United States imported a total of US$11.7 billion (about S$15.6 billion) of beef and beef derivatives last year, and these imports came from Australia, Canada, Mexico, Brazil and New Zealand.
Tariffs will also cause American farmers to pay high prices for fertilizers, and planting costs will rise. About 90% of the potash fertilizers needed by the United States rely on imports, of which about 85% come from Canada.
Minnesota Senator Amy Klobuchar, a member of the U.S. Senate Agriculture Committee, said: “A comprehensive increase in tariffs will make it more difficult for Americans to make a living, and farmers will also lose valuable export markets and face higher input costs.”
New York Federal Reserve Bank President Williams expects that the Trump administration’s tariff policy will push up inflation to a certain extent, but there is uncertainty about how economic activities, including corporate investment decisions and consumer spending, will be affected.
