US Edition
Poll: 54% of Americans Would Pay More if Tariffs Increase Prices
UNITED STATES, JUL 22 – General Motors and Stellantis reported combined losses exceeding $1.4 billion in early 2025 due to tariffs, while 70% of Americans expect tariffs to increase consumer costs, a Gallup poll found.
- General Motors and Stellantis reported billions in losses in the first half of 2025 due to President Trump's tariff policies.
- The tariffs stem from Trump's April 2 announcement imposing new levies to disincentivize imports and boost domestic manufacturing, despite China and other countries largely resisting concessions.
- Although tariffs aim to tax foreign goods, data shows domestic firms bear the costs, passing price increases mainly on consumers for imported products like toys and appliances without raising car prices significantly.
- Economists and Deutsche Bank's George Saravelos confirm Americans mostly pay the tariffs, with GM noting duties dented profits by over $1.1 billion amid a $1 billion quarterly loss.
- The tariff impact worsens economic uncertainty, pressures consumer prices, and likely accelerates lower-income consumers favoring cheaper own-brand products, while trade negotiations and new deals remain pending.
70 Articles
70 Articles
Daily Journal
Poll: 54% of Americans would pay more if tariffs increase prices
(The Center Square) — More than half of Americans said they are willing to pay up to 10% more for U.S.-made goods if President Donald Trump’s tariffs raise prices, according to a recent poll.
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Who's paying Trump’s tariff bill? Not foreign countries as he claims but American firms, people
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Coverage Details
Bias Distribution
- 53% of the sources lean Right
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