Trump’s tariff turmoil ‘not playing well with the American public’: CNBC

Tariffs' Impact on Consumers and Economy - Yell's Budget Lab estimates tariffs will cost a typical household an average of $2,400 this year [1] - Tariffs are expected to increase prices on goods with low margins, such as fish, olive oil, meat, and cheeses, especially those not produced in the US like bananas and Brazilian coffee [3] - The market is reacting to headlines about the impact of tariffs, with potential effects on GDP, jobs, and inflation [23][24][25] - A CNBC survey indicates that 37% to 60% of Americans are concerned that inflation is rising faster than their incomes [20] - The same CNBC survey shows that 45% to 51% of Americans view tariffs negatively, believing they hurt workers and raise prices [21] Trade Negotiations and Deals - The administration initially promised 90 trade deals in 90 days, but many deals are still outstanding [7] - Countries like Brazil and potentially India face high tariffs of 50%, and negotiations are expected to continue [8] - The Treasury Secretary stated the goal is to rebalance trade in America's favor and bring back high precision manufacturing jobs [9][10] - Multiple outlets report that both sides sometimes interpret trade deals in different ways, and negotiations with major trading partners like China and Mexico are ongoing [18] Apple's Investment and Tariff Influence - Apple announced a $100 billion investment, totaling $600 billion over several months, which the administration touts as proof that tariffs are working to bring back manufacturing to the US [10] - Apple's gifts and investments are seen as currying favor to potentially lessen tariffs on Apple products [15][16] - It's questioned whether Tim Cook can realistically bring all manufacturing back to the United States [13] Legal and Political Considerations - The administration acknowledges the potential for courts to strike down the tariff policy [11] - The President's economic approval rating is underwater, and lower than his overall approval rating, a shift from his first term [22]