A lot has happened since CivicScience released its Tariff Monitor last month. Not only has the economic outlook among Americans soared to its highest levels in two years, but President Trump has made a lot of progress on trade. By signing phase one of a trade deal with China, Trump hit the brakes on his 18-month-long trade war, with a phase two promised by the end of his term. All that being said, however, Americans, like leaders at Davos, are only a little bit fazed about the trade deal.
Though American’s concern about the impact of tariffs on household finances continues to decline, it’s not a drastic drop by any stretch, decreasing by only one percentage point since December’s reading. This could be due to the fact that, though phase one was signed, many tariffs are still in place. Perhaps Americans aren’t sure if and when the phase two deal will go through.
Little to no change in overall concern makes it no surprise, then, that the political makeup has barely budged either.
There is a slight change in how Americans are taking note of the prices of everyday household items. Americans surveyed in the latest January reading are more likely to say they’re not noticing a difference in the cost of the goods they buy compared to last month. Sixty-two percent of U.S. adults say they haven’t noticed a difference, up three percentage points from December.
So while Americans may feel really good about the economy right now, they’re lukewarm on tariff progress.