Americans are souring on

Donald Trump’s tariffs

even as the U.S. president scrambles to find new ways to impose the levies after his defeat in the Supreme Court.

Trump’s main tariff tool was struck down last month when the court ruled the president did not have the authority

under the International Emergency Economic Powers Act.  

The White House, however, has quickly moved on to new methods, including a

temporary measure

under the Trade Act for a 10 per cent tariff and

launching investigations

to support further penalties.

Treasury Secretary Scott Bessent has promised that these new tariffs “will result in virtually unchanged tariff revenue in 2026.”

“It was the tariff that made America strong and powerful in generations past and it is tariffs that are making our country stronger, safer and richer than ever before,” Trump wrote in a January

Wall Street Journal op-ed

.

Americans, however, appear to have their doubts. Poll after poll is showing that increasing numbers believe that Trump’s favourite economic policy tool is damaging the economy and its citizens.

Inflation and the cost of living

have become top concerns in America and blame for rising prices has shifted “dramatically” in recent months, according to a consumer trends report by Resonate.

“Now at 39.3 per cent, President Trump has risen to the top of consumers’ lists when it comes to pointing fingers. The second most-popular cause among consumers, at 37.3 per cent, is tariffs and other trade policies,” said the survey late last year.

Corporate price gouging, long the leading source of blame, dropped significantly in the ranking.

More recently,

a poll commissioned by the Guardian newspaper

in the U.K. in February found that seven in 10 Americans blame Trump’s tariffs for higher prices, including 64 per cent of Republicans.

Most Americans, 72 per cent, also believe that the tariffs have had a negative rather than a positive impact and 67 per cent say tariffs are not the right solution for the economy.

Friday, a study by congressional Democrats made waves when it said if Trump succeeds in reinstating tariffs, import taxes will cost American households an average of US$2,512 in 2026, a 44 per cent increase from last year.

“As American families continue to struggle with high costs, the President keeps choosing to institute new tariffs that will push prices even higher,” said Democrat Sen. Maggie Hassan.

A White House spokesperson called the report “phoney.”

Americans also appear more likely to give Canadians a break than the hardline talk of their president would suggest.

If they had their way, 51 per cent of Americans say there would be no tariffs on Canadian goods entering their country, according to

a new poll by Angus Reid Institute

. This is up from the 42 per cent who said so in October 2024.

Despite Trump calling Canada “mean and nasty” in trade negotiations, three-quarters of Americans say they have a favourable view of their northern neighbour. More than half view Canada as “the most important” or a “very important” trading partner with the United States.

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Canada’s

job numbers

Friday were described as brutal, but in Quebec they were so bad they broke records.

The province suffered a net loss of 57,300 jobs, which wiped out the cumulative gains of the past 14 months, said

Sonny Scarfone, principal economist at Desjardins Group.

That is the sharpest monthly drop since records began in 1976, outside of the pandemic, and the biggest provincial drop.

Still it’s not all bad. Quebec’s unemployment rate did rise, but at 5.9 per cent it is still well below the national average of 6.7 per cent. In fact, Quebec has the third lowest jobless rate among the provinces, behind only Saskatchewan and Manitoba.

  • Today’s Data: Canada inflation for February and housing starts, United States industrial production, capacity utilization and NAHB housing market index
  • Earnings: Dollar Tree Inc.

  • Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket
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  • How the war in Iran is fundamentally shifting the outlook for mortgage rates

    Canadians’ household net worth rose by six per cent year-over-year in the third quarter of 2025 to hit $18.4 trillion, according to the latest data from Statistics Canada.

    On average, this amounted to $1.07 million per household, with nearly half of this wealth concentrated in real estate. However, a closer look at the data reveals assets, liabilities and net worth gains look very different depending on age, wealth status or even province of residence.

    In the latest quarterly

    Financial Post Wealth Report

    , Serah Louis breaks down which assets are driving some households forward and the liabilities holding other households back.

    Find out more.

    Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on  one of the country’s most important sectors.

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    Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).

    McLister on mortgages

    Want to learn more about mortgages? Mortgage strategist Robert McLister’s

    Financial Post column

    can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his

    mortgage rate page

    for Canada’s lowest national mortgage rates, updated daily.

    Financial Post on YouTube

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    Today’s Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.

    Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at 

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    .

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