October 8, 2024
Consumers’ support for trade and immigration declines, small change on higher taxes for wealthy
American consumers view the economic impact of both trade and immigration more critically now than in 2020, according to the University of Michigan Surveys of Consumers.
Surveys this year since May have asked consumers whether the economic policies debated by the presidential candidates would benefit or harm prospects for future growth in the overall economy.
The questions, which were also asked prior to the 2020 and 2016 presidential elections, focused on three economic policies—trade, immigration and taxing the wealthy to reduce income inequality.
“This year, some groups had relatively balanced views on the economic impact of immigration, meaning that they were not skewed in favor nor against immigration. These groups included younger consumers, higher-income consumers and those with college degrees. With the exception of Democrats, all other groups reported net negative views of immigration.”