US Voters Narrowly Support Trump’s Tariff Pitch, Poll Finds

 Republican presidential nominee former President Donald Trump arrives at Harry Reid International Airport to board a plane after a campaign trip, Saturday, Sept.14, 2024, in Las Vegas. (AP)
Republican presidential nominee former President Donald Trump arrives at Harry Reid International Airport to board a plane after a campaign trip, Saturday, Sept.14, 2024, in Las Vegas. (AP)
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US Voters Narrowly Support Trump’s Tariff Pitch, Poll Finds

 Republican presidential nominee former President Donald Trump arrives at Harry Reid International Airport to board a plane after a campaign trip, Saturday, Sept.14, 2024, in Las Vegas. (AP)
Republican presidential nominee former President Donald Trump arrives at Harry Reid International Airport to board a plane after a campaign trip, Saturday, Sept.14, 2024, in Las Vegas. (AP)

Donald Trump's campaign vow to increase tariffs on imported goods, particularly from China, has the support of a narrow majority of US voters, illustrating his economic advantage over rival Vice President Kamala Harris, a new Reuters/Ipsos poll shows.

The Republican former president and his Democratic opponent have both vowed to pursue tax cuts if they win the Nov. 5 election. But voters also credit Trump with being more likely to lower the $35 trillion national debt -- even though independent economic forecasters say his proposals would have the opposite effect.

Some 56% of registered voters in the Sept. 11-12 poll said they were more likely to support a candidate backing a new 10% tariff, or tax, on all imports, as well as a 60% tariff on imports from China. By comparison, 41% said they were less likely to support a candidate attached to that proposal.

The poll showed Harris with an overall 5-percentage-point lead over Trump nationally, though the US presidential race will largely be decided in about seven battleground states where the race is tighter.

The poll details Trump's strengths on a key issue, the US economy.

"This is what's keeping the election so close," said Karlyn Bowman, a polling expert at the conservative American Enterprise Institute.

Bowman said Trump's advantage flows from a perception the economy did well during his 2017-2021 administration, and from his success convincing voters US economic problems stemmed from underhanded economic competition from other countries, notably China.

The poll found one in three Democrats said they were more likely to vote for a candidate backing higher tariffs and steep levies on Chinese goods, compared with two-thirds who said they were less likely to do so. Independent voters mirrored the wider electorate.

Until the COVID-19 pandemic ravaged the global economy in 2020, the US economy by many measures performed well during the Trump administration, boosted by tax cuts for consumers. Unemployment was at its lowest in decades, although the national debt was rising and would explode during the pandemic.

This year, Trump has promised an array of tax cuts on the campaign trail, including ending income tax on tipped income - a proposal Harris also supports. On Thursday, he vowed to end taxes on overtime pay.

Seventy percent of registered voters supported the idea of exempting tips from taxes.

Trump called himself a "tariff man" during his presidency as he slapped levies on Chinese imports. Economists are wary of the idea, including at Wall Street bank Goldman Sachs, which estimates Trump's tariffs and other policies would slow the economy.

Harris mentioned Goldman Sachs' assessment in Tuesday's presidential debate and has noted that many independent economists believe Trump's policies would add to the national debt.

But the poll found that 37% of US voters see Trump as more likely to focus on reducing the debt, compared with 30% who picked Harris. Another 30% said neither would do so.

Several prominent budget forecasters see Trump's tax proposals adding at least $3 trillion to federal deficits over a decade, while the same forecasters see Harris' plans adding less than $2 trillion or possibly reducing the debt.

Among voters polled, 47% said Trump was more likely to prioritize fostering a good climate for business, compared with 37% who picked Harris.

Harris, however, had a marginal 1-percentage-point advantage - 43% to 42% - when voters were asked who will seek to create "an economic climate that is good for me and my family."

Voters also said Harris was more likely to prioritize getting people affordable healthcare and building bridges and roads.

Trump had an advantage on inflation, which surged under Biden in 2021 and 2022. Some 43% of voters in the poll said Trump would be more likely to "lower prices for everyday things like groceries and gas," compared with 36% who picked Harris.

The Reuters/Ipsos poll gathered responses online from 1,405 registered voters, with a margin of error of about 3 percentage points.



EU, US Reportedly Near Critical Minerals Deal to Combat Chinese Control

FILE PHOTO: A block with the symbol, atomic number and mass number of Dysprosium (Dy), a heavy rare earth, in this illustration taken January 21, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A block with the symbol, atomic number and mass number of Dysprosium (Dy), a heavy rare earth, in this illustration taken January 21, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
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EU, US Reportedly Near Critical Minerals Deal to Combat Chinese Control

FILE PHOTO: A block with the symbol, atomic number and mass number of Dysprosium (Dy), a heavy rare earth, in this illustration taken January 21, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A block with the symbol, atomic number and mass number of Dysprosium (Dy), a heavy rare earth, in this illustration taken January 21, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

The European Union and Washington are closing in on an agreement to coordinate on producing and securing critical minerals, Bloomberg News reported on Friday.

The potential deal would include incentives such as minimum price guarantees that could favor non-Chinese suppliers, the report said, citing an "action plan".

The EU and US would also ⁠cooperate on standards, investments ⁠and joint projects, along with increased coordination on any supply disruptions by countries like China, the report added.

The European Commission declined to comment on the report. The office of the ⁠US Trade Representative did not immediately respond to Reuters' requests for comment.

EU trade commissioner Maros Sefcovic said in March he had a "very positive" meeting with US Trade Representative Jamieson Greer on the sidelines of a World Trade Organization ministerial meeting in Cameroon, where the two sides agreed to further advance work on ⁠critical ⁠minerals and also discussed tariffs.

The EU-US deal would cover “critical minerals along the entire value chain and life-cycle management, including exploration, extraction, processing, refining, recycling and recovery,” Bloomberg reported, citing a non-binding memorandum of understanding.

The US has been scrambling to get access to critical mineral reserves, especially rare earth supply chains currently dominated by Chinese players.


Gold Set for Third Weekly Gain as US Rate Outlook Offsets Dollar Strength

FILE PHOTO: Customers crowd around a jewelry showroom during Akshaya Tritiya, a major gold-buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo
FILE PHOTO: Customers crowd around a jewelry showroom during Akshaya Tritiya, a major gold-buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo
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Gold Set for Third Weekly Gain as US Rate Outlook Offsets Dollar Strength

FILE PHOTO: Customers crowd around a jewelry showroom during Akshaya Tritiya, a major gold-buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo
FILE PHOTO: Customers crowd around a jewelry showroom during Akshaya Tritiya, a major gold-buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo

Gold steadied on Friday as US-Iran ceasefire uncertainty lingered, but the metal stayed on course for a third consecutive weekly climb as investors priced in earlier and deeper US rate cuts, supporting non-yielding bullion.

Spot gold held its ground at $4,764.54 per ounce by 0532 GMT. The metal, however, has gained 1.8% so far this week.

US gold futures for June delivery fell 0.6% to $4,787.80.

The ‌dollar index strengthened, ‌making greenback-priced bullion more expensive for holders of other currencies, Reuters said.

"There's ‌a ⁠lack of clarity ⁠about the way that the ceasefire is evolving in the Middle East and what that means to energy markets... so we're in sort of a little bit of a holding pattern (with gold) going into the final session of the week," said Kyle Rodda, senior financial market analyst at Capital.com.

Spot gold has fallen about 10% since the US-Israel conflict with Iran ⁠erupted on February 28, with elevated energy prices sparking ‌inflation concerns and the prospect of ‌higher US interest rates.

The fragile two-week ceasefire between the US and Iran showed further ‌strain on Friday, as Washington accused Tehran of breaching promises on ‌the Strait of Hormuz.

Brent crude, however, has slid more than 11% this week on optimism that the ceasefire could reopen the Strait of Hormuz, through which about 20% of the world's oil and liquefied natural gas passes.

"If things break down, (gold) ‌could end up back in mid-$4,000's pretty quickly. But if the ceasefire holds and the peace deal starts ⁠to look more ⁠likely, then we could push through $5,000," Rodda added.

On the data front, the US Personal Consumption Expenditures index, the Federal Reserve's preferred inflation gauge, advanced 2.8% in the 12 months through February, in line with estimates, and likely rose further in March.

Investors are now looking out for March's US Consumer Price Index data, due later in the day, for further clues on Fed's monetary policy direction.

Markets are pricing in a 31% chance for a US rate cut of at least 25 basis points at the Fed's December meeting, according to CME's FedWatch Tool, up from 20% in the prior session.

Among other metals, spot silver rose 1.3% to $76.03 per ounce, platinum lost 2% to $2,061.10, and palladium fell 0.2% to $1,553.92.


Saudi Business Confidence Index Remains Optimistic

A street in the Saudi capital, Riyadh (Reuters)
A street in the Saudi capital, Riyadh (Reuters)
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Saudi Business Confidence Index Remains Optimistic

A street in the Saudi capital, Riyadh (Reuters)
A street in the Saudi capital, Riyadh (Reuters)

Saudi Arabia’s Business Confidence Index remained in optimistic territory at 52.1 points in March, underscoring private sector resilience despite geopolitical challenges.

The index fell from 60.7 in February but stayed above the neutral 50 threshold, reflecting continued confidence in stable economic activity and sustained growth across key sectors, according to the General Authority for Statistics (GASTAT).

A statement released by GASTAT said that the BCI for the industrial sector recorded 50.8 points, maintaining an optimistic level despite a decline of 15.8 percent compared to February.

The BCI for the services sector recorded 52.0 points, maintaining an optimistic level despite a decline of 14.9 percent compared to February, it said.

Regarding the BCI in the construction sector, the data revealed that in March, it recorded an optimistic level at 53 points, confirming the continued positive confidence among establishments in the sector, the statement added.