Trump Pushes Forward With Controversial Tariff Plan Despite Growing Backlash From Voters Who Strongly Oppose It

Donald Trump is again stirring the pot with his controversial plan to impose sweeping tariffs, including a hefty 20% tax on all imports. While he's digging in his heels, voters' response has been anything but smooth sailing. 

According to an NBC News poll, 44% said they'd be less likely to back a candidate supporting universal tariffs, while only 35% were on board. The numbers don't lie – this is a divisive issue, especially as inflation and fragile supply chains are already giving the economy a run for its money.

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Nevertheless, Trump is sticking to his guns. He argues that slapping high tariffs on imports will push companies to pack up their overseas operations and set up shop in the U.S. 

"The higher the tariff, the more likely it is that the company will come into the United States and build a factory," he explained in a recent interview with Bloomberg Editor-in-Chief John Micklethwait at the Economic Club of Chicago.

 In his view, it's a no-brainer – bring manufacturing back home, create jobs and rev up domestic production. But, as with many things, the devil is in the details.

Economists aren't buying it. Many have pointed out that while these tariffs might sound like a win on the surface, they often hurt the people they're supposed to help. U.S. importers typically bear the brunt of these tariffs but don't just eat the costs. Instead, they pass them down to consumers, meaning the price of everyday goods could rise. 

Case in point: the Tax Foundation has estimated that Trump's earlier tariffs on Chinese imports, which kicked off in 2018, have already resulted in a $77 billion tax hike. American businesses and consumers have shouldered much of that burden.

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Adding fuel to the fire, Justin Wolfers, a University of Michigan professor of public policy and economics, warned in a CNBC interview that Trump's new tariffs could reignite inflation just when the economy is catching its breath. 

Wolfers noted that a tariff on washing machines in 2018 led to a 9% price hike for laundry equipment. If tariffs like that are applied across the board, it's not hard to imagine the pinch consumers might feel in their wallets.

Even within Trump's party, there's been pushback. Senate Minority Leader Mitch McConnell, who's not known for mincing words, came out against the plan. "I'm not a fan of tariffs. They raise prices for American consumers," McConnell said, clarifying that the proposal isn't sitting well with some key GOP figures.

On the other side of the aisle, Vice President Kamala Harris didn't hold back either, calling the plan a "Trump sales tax." The Biden administration has its tariffs in place, but they're a bit more strategic, targeting specific sectors like semiconductors and critical minerals. 

The long-term effects of Trump's tariff proposal remain a point of contention. While critics argue that higher prices will hurt consumers in the short run, some economists suggest that the broader picture could shift over time. 

They've found that while tariffs can initially strain the economy, the impact may soften as domestic production picks up in the long run. However, the short-term effects, especially rising consumer prices, remain a significant concern.

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