Rising Inflation and Tariff Threats Put Trump’s Economic Policy Under Fire

News
Alex Bollinger
March 2, 2025
8 minutes read

Rebecca Blackwell/AP

With inflation showing signs of heating back up, American voters are growing increasingly skeptical of President Donald Trump’s signature economic policies. Bloomberg reports that Trump “risks American consumer backlash” if he follows through on his threats to impose tariffs on all imported goods from Mexico and Canada.

A new Harris poll conducted for Bloomberg reveals that 60 percent of respondents believe these tariffs will raise prices on everyday consumer goods. “While many of Trump’s proposed levies are not yet enacted, the findings signal that his plans for a tariff onslaught risk political blowback — and that his messaging on the issue hasn’t landed with many consumers,” Bloomberg writes.

Even before the tariffs have taken effect, Bloomberg notes that Americans are already feeling the strain of higher prices during Trump’s first month back in office. “Some 61 percent of US adults said they’d noticed an increase in grocery prices in the last month.”

Eliza Winger, a U.S. economist for Bloomberg Economics, warns that Trump’s plan to implement a blanket 25 percent tariff on imports from Mexico and Canada could be especially ill-timed. “People are just worried about anything when it comes to inflation because prices are already so high,” she explains. “They are more sensitive to any sort of headline when it comes to inflation numbers.”

The report underscores the political risk Trump faces as inflation remains a top concern for American households. If consumer costs continue to rise, his economic policies could become a major liability heading into the next election cycle.