2008 record      


As President Donald Trump prepares to sit down with Chinese President Xi Jinping at the G-20 on Saturday, Americans both hope and expect that a China trade deal is on the way. That's because they have a much more negative view of Trump tariffs than the self-proclaimed Tariff Man, new IBD/TIPP polling shows.

China Trade Deal Seen Likely

Expectations that the Trump-Xi summit will get China trade talks back on track got a boost when Trump tweeted on June 18 that the two men had a "very good" talk and agreed to an "extended meeting" at the G-20 in Osaka, Japan.

The IBD/TIPP Poll covers 900 responses from June 20-27, when Wall Street analysts grew cautiously optimistic about the summit outcome. That optimism, along with expectations of Fed rate cuts, helped boost the S&P 500 to a record high and the Dow Jones to a 2019 best.

Among those polled, 65% saw a China trade deal as likely or somewhat likely in the near future. Among investors, 69% see a trade deal as likely.

Rising expectations of a deal, after President Trump had abruptly escalated the trade conflict on May 10, gave a boost to Trump's approval rating on China trade issues. The new IBD/TIPP Poll saw Americans split 42%-42% over whether Trump's handling of China trade was good or poor. At the start of June, 45% gave Trump failing marks on China trade vs. 39% with a positive opinion.

Americans Oppose Trump's Plan B For China Trade War

Trump said recently that he's fine either way, whether the U.S. seals a China trade deal or settles for Plan B. That involves slapping tariffs on the remaining $300 billion in Chinese imports that have yet to face a tax. But the IBD/TIPP Poll indicates that Americans widely disagree.

Only 16% said the U.S. should escalate tariffs if there's no China trade deal in the next three months. Another 33% said the U.S. should remove China tariffs, even if they can't reach a near-term deal, while 44% said Trump should leave the tariffs in place.

While President Trump has said China bears the brunt of the trade war, Americans aren't so sure. Of those polled, 46% said the U.S. economy stands to lose more if a trade agreement isn't reached, while 44% see China as the bigger loser.

The new IBD/TIPP Poll found that 45% think tariffs on Chinese goods are hurting the U.S. economy, while 26% think they help. Although not exactly supportive of Trump's trade war, that represents an improvement from the 52%-22% negative split in early June.

Please click here to read the original article on the Investor's Business Daily website.

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn