The majority of voters know that tariffs on imported goods are going to cost them, but it's a price they're willing to pay for a policy they believe will boost the economy, a new survey showed.

That's according to a poll of U.S. voters by Morning Consult released Tuesday. The poll found 45% of voters believed consumers pay the majority of the cost of tariffs, outranking the 17% who thought foreign exporters bore the brunt, the second-most common response. At the same time, 46% said a 10% tariff on all foreign products would be good for the economy, compared to 33% who said it would be bad.

The survey sheds light on the amount of public support for tariffs the day after President-Elect Trump announced steep new tariffs targeting products from Mexico, Canada, and China, which he promised to order on Inauguration Day, Jan. 20. It also paints a complicated picture of what economic policies the public supports: voter 澳洲幸运5官方开奖结果体彩网:anger over higher prices during the Biden era helped 👍Trump prevail in the polls.

What Could Tariffs Look Like?

Tariffs, like the ones Trump wants to impose, are meant to protect domestic companies by giving them an adv♑antage over foreign competitors. However, econo🍬mists widely believe they increase the cost of living.

Economists say merchants pass through the cost of the import taxes onto consumers, and tariffs give cover to domestic manufacturers to raise prices. They can also lead to 澳洲幸运5官方开奖结果体彩网:trade wars as other countries retaliate.

Indeed, Trump's announcement of the planned 25% tariff on goods from Canada and Mexico and an additional 10% tariff on Chinese products prompted some forecasters to ramp up their estimates for inflation in the coming years.

Economists at Deutsche Bank predicted that inflation, as measured by core Personal Consumption Expenditures prices, would run at 3.7% in 2025 if the tariffs were implemented as Trump announced Monday evening, up from their previous forecast of 2.6%.