The Yale Budget Lab recently projected that the “Liberation Day” tariffs raised the average effective U.S. tariff rate to 11.5 percent, with an estimated 1.3 percent increase in consumer prices. Factoring in all 2025 tariffs, including those on steel and aluminum and retaliatory tariffs from abroad, the average effective rate reaches 19.8 percent. Yale projects this will lead to a total inflationary impact of 2.31 percent.

Against this backdrop, consumer confidence, which surged after Trump’s re-election, has softened. Uncertainty about the inflationary effects of the tariff program has been cited in several recent downbeat sentiment surveys, while future inflation expectations have climbed. Still, a large portion of readers responding to The Epoch Times’ poll remains supportive of Trump’s tariff policies, even as they acknowledge the possibility of some price pain.

When asked whether tariffs will increase prices on consumer goods such as clothing, electronics, and household items, 18 percent of respondents strongly agreed and 35 percent somewhat agreed. Thirty-two percent were neutral, while 10 percent somewhat disagreed and 5 percent strongly disagreed. Democrats were more likely to agree that tariffs would raise prices, while Republican respondents were more divided or neutral.

Respondents were also asked whether tariffs would noticeably impact their household’s cost of living. Eleven percent strongly agreed, and 20 percent somewhat agreed, while a plurality—40 percent—remained neutral. Nineteen percent somewhat disagreed, and 10 percent strongly disagreed.

When asked whether they were more concerned about their job situation compared with the previous month, only 7 percent strongly agreed, and 4 percent somewhat agreed. Nineteen percent were neutral, while 14 percent somewhat disagreed and 56 percent strongly disagreed. This suggests that despite uncertainty over prices, confidence in employment stability remains strong among readers.

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