A Majority of Americans Think Trump’s Tariffs Will Raise Prices on Everyday Items

As President Trump’s tariffs on imported goods begin to take effect, nearly three-quarters of Americans see price hikes coming soon. A survey conducted by Reuters/Ipsos revealed that 73% of participants felt prices for everyday essentials will be going up.

Among the survey respondents, only 4% thought prices would go down. The remaining survey takers did not foresee any price changes or failed to answer the question.

About 57% of respondents thought the tariffs, which levy at least a 10% duty fee on most imports, are a bad idea. Nearly 40% were in favor of the tariffs, and just over half sided with the Trump administration’s stance that other countries have an unfair advantage when it comes to trading with the U.S.

President Trump has claimed the tariffs will ultimately lead to an increase in American manufacturing. However, 44% of the survey participants did not agree.

Are higher tariffs a good idea? Roughly 50%, which were majority Republican, agreed that “short-term economic pain” is a bearable consequence as long as it makes the “U.S. stronger in the long term.” The other 50%, mostly Democrats, thought the opposite.

The Reuters/Ipsos survey was conducted over a three-day period and involved 1,027 U.S. adults. The margin of error was about three percentage points.

Walmart Gives Shoppers an Edge as Tariffs Hit

As prices potentially go up due to Trump’s tariffs, consumers may have one retailer to rely on to keep prices stable — Walmart. Known for keeping prices as low as possible, the world’s largest retailer has a program that could give it an edge as other retailers raise prices.

Walmart’s membership plan, called Walmart+, drives a substantial amount of customer traffic to its physical stores and its online shopping portal. With customers paying either $12.98 a month or $98 a year, the Walmart+ membership is a very profitable revenue stream for the retailer. This additional income helps Walmart offset the potential costs associated with import tariffs levied by suppliers. Most retailers don’t have much choice other than passing the extra expense to shoppers in the form of higher prices, which Walmart may not have to do.

Launched in 2020, Walmart+ was the retailer’s response to Amazon’s Prime membership. The Walmart membership offers free shipping, same-day grocery delivery, gas discounts, and a free Paramount+ subscription. For members looking for some extra special perks, Walmart+ Week will return later this month.