This is interesting, however, I’m actually going to take a ‘climate change’ road on it
Up to 94 percent of American voters say they want an economic nationalist overhaul of the United States’ economy in the wake of the Chinese coronavirus crisis, a survey reveals.
A survey conducted by FTI Consulting finds that American voters overwhelmingly want economic nationalist policies implemented — including more tariffs on foreign imports, mandatory country-of-origin labeling, and a requirement that goods be made in the U.S.
In total, about 66 percent of Americans support increasing tariffs on foreign imports while only 34 percent want more free trade agreements between the U.S. and other countries.
Likewise, 76 percent of Americans said they are willing to pay 5 percent to 100 percent more for U.S.-made products over products made overseas. Just 24 percent said they are not willing to pay more money for U.S.-made products.
The poll shows that Americans are increasingly growing tired of their goods being made in China. Today, about 4-in-10 Americans say they will not buy products imported from China. A plurality of about 34 percent of the 60 percent of Americans who said they will still buy products from China said they will do so but do not like the fact that they are made in China.
Where does the 94% come from?
About 94 percent of Americans said they support requiring labels on each product that indicates all of the countries where the product was designed, manufactured, and assembled and indicates what percentage of the product was made in each country. Only six percent oppose the requirement.
Most labels already have nation of origin. Regardless, the point of implementing tariffs is not to increase the cost of goods here in the U.S., but to sway other nations to remove their tariffs on U.S. goods.
I will say, though, that much like with ‘climate change’ policies, I’m betting this is more of a theoretical issue vs in practice. Meaning that people will say now that they are willing to pay more rather than actually willing to pay more. They might go for 5-10% more. Maybe even up to 20% more, depending on what they are buying, for products made in the U.S. More than that? Doubtful. Are they willing to pay 20% to 100% more for that “domestic” vehicle that is actually made in Mexico or Canada? How about doubling the cost of a new TV or smartphone?
Just remember, what Trump wants is not increased prices, but China and other nations to open their markets for American goods. A level playing field.
