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Poll results

With the election of Donald Trump to a second term as president, it seems likely that the United States will impose major new tariffs on imported goods and materials.

A tariff is a tax, of course — though not truly a sales tax, as it's been called. For American businesses and consumers, however, the effect could be the same.

Under Trump's plan, businesses would have to pay a tariff of 10% to 20% on anything they import, and as much as 60% on imports from China. Typically, such extra costs get passed along to customers in the form of higher prices.

When other countries retaliate with tariffs of their own on U.S. exports, the impact on prices is compounded.

The Peterson Institute for International Economics, a nonpartisan think tank, issued an analysis in September of what all this could mean.

Among the findings: "Assuming other governments respond in kind, Trump’s 10 percentage point increase results in U.S. real GDP that is 0.9 percent lower than otherwise by 2026, and U.S. inflation rises 1.3 percentage points above baseline in 2025."

Are you worried how the higher U.S. tariffs proposed by President-elect Trump could affect your business?
Yes, I'm worried about how the tariffs could affect my business. (53%, 194 VOTES)
No, I'm not worried about how the tariffs could affect my business. (27%, 99 VOTES)
Not sure yet, I'll need to see more specifics. (12%, 43 VOTES)
Not applicable, imports are irrelevant to my business. (9%, 32 VOTES)
Poll Description

With the election of Donald Trump to a second term as president, it seems likely that the United States will impose major new tariffs on imported goods and materials.

A tariff is a tax, of course — though not truly a sales tax, as it's been called. For American businesses and consumers, however, the effect could be the same.

Under Trump's plan, businesses would have to pay a tariff of 10% to 20% on anything they import, and as much as 60% on imports from China. Typically, such extra costs get passed along to customers in the form of higher prices.

When other countries retaliate with tariffs of their own on U.S. exports, the impact on prices is compounded.

The Peterson Institute for International Economics, a nonpartisan think tank, issued an analysis in September of what all this could mean.

Among the findings: "Assuming other governments respond in kind, Trump’s 10 percentage point increase results in U.S. real GDP that is 0.9 percent lower than otherwise by 2026, and U.S. inflation rises 1.3 percentage points above baseline in 2025."

  • 368 Votes
  • 6 Comments
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6 Comments

  • November 19, 2024

    The United States is facing a trade deficit of $773,000,000,000. If tariffs help lower our taxes and national debt, while leveling the playing field for US companies against imports from countries that subsidize exports to the US, that would be terrific.

  • Drew Cheney
    November 18, 2024

    He will likely back off from his more extreme tariff proposals if they start to be significantly harmful.

  • November 18, 2024

    Been there, done that. It was called Hawley-Smoot. It was an unmitigated economic disaster. Look it up. Just little bits of history repeating; the lesson will be repeated until it is learned.

  • November 18, 2024

    Where is the "Tariffs would help my business" option??

  • Jim Elkins
    November 18, 2024

    But I think tariffs are always a bad idea as they impact commerce.