The Economic Consequences of Tariffs and Public Perception

President Donald Trump is set to announce that he’ll impose sweeping new global tariffs on imports, and Congressional Republicans are already scrambling wildly to try to shield their states and districts from the fallout. Meanwhile, a Fox News poll finds that Trump is sliding on the economy, with the public turning against tariffs in particular. And an Associated Press survey also has terrible news for Trump on this front. Notably, all these negative consequences kicked in well before the tariffs have even started. We talked to Jared Bernstein, former chair of President Biden’s Council of Economic Advisers and now a visiting scholar at Stanford, who has a new piece on his Substack predicting the consequences could be dire. He explains why the tariffs are so wrongheaded—and why they’re likely to cause major backlash against Trump and his party.

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