According to a newly released survey by YouGov and The Economist, Americans are most concerned about inflation out of a list of issues that are affecting their country. 91 percent of survey respondents said it was a very serious or somewhat serious problem, ahead of corruption (86 percent) and crime (78 percent). Consumers thereby rated inflation as much more of an issue than the trade deficit, which just 62 percent found serious.
Inflation cooled to just 2.3 percent in March, an official release said Monday. However, President Trump's major new tariffs - now paused - had stoked fears of new inflation in consumers and economists alike due to their disruptive potential for global markets. In January, the month Trump took office, consumers already reacted negatively, dialing back spending as if braceing for economic uncertainty ahead. Spending recovered in February, but March figures won't be released until the end of the month. Likewise, April inflation reading could also look worse again due to persisting (and increasing) tariffs with China as well as on steel, aluminum and the auto industry. As it stands, tariffs of an additional 10 percent on countries around the world also still stand.
Also exceeding the negative rating of the trade deficit was that of the U.S. government budget deficit, which 76 percent of American rates as a serious issue. As tariffs are taking center stage in global news, Republicans in Congress are also debating the 2025 budget at the moment, which included some serious maneuvering to increase the budget deficit by trillions or - alternatively - carry out major cuts to services like Medicaid and SNAP that would affect millions of Americans.
