New survey reveals 60% of Americans worried about economy

By Al Mayadeen English
Source: Agencies
3 Apr 2025 22:41

According to the Washington Post, IRS officials are predicting a more than 10% decrease in tax revenue by the April 15 deadline.

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A screen displays financial news as traders work on the floor at the New York Stock Exchange in New York, Thursday, April 3, 2025. (AP Photo/Seth Wenig)

Public concern over the health of the US economy is intensifying, with a new Gallup survey showing that 60% of Americans "worry a great deal" about the nation's economic trajectory. The figure marks an eight-point increase from last year, signaling a sharp rise in economic unease.

Conducted between March 3 and 16 among 1,002 adults, the survey also revealed that 27% worry "a fair amount," while only 3% said they are not concerned at all. Alongside economic concerns, Americans identified health care costs, inflation, and the federal budget deficit as major stress points, with 59%, 56%, and 52% respectively listing them as key issues.

The polling results came just one day after President Donald Trump unveiled a sweeping tariff plan that has further fueled anxieties. On April 2, Trump signed an executive order imposing a 10% baseline tariff on all imported goods, effective April 5. A second phase will follow on April 9, introducing steep reciprocal tariffs targeting countries with significant trade surpluses with the US — including a 54% cumulative tariff on Chinese imports.

According to economic analysts, the administration's protectionist push could result in higher prices for American consumers and a possible 1% increase in overall inflation. Some goods, such as automobiles, may see double-digit price hikes. The Wall Street Journal reports that these measures could significantly disrupt global supply chains, with tech and manufacturing sectors likely to be hit hardest.

While the White House maintains that these tariffs are essential to reshaping trade dynamics and protecting American jobs, critics argue they could worsen the very economic conditions that Americans are increasingly worried about.

According to the Washington Post, IRS officials are predicting a more than 10% decrease in tax revenue by the April 15 deadline.

Earlier today, World Trade Organization Director-General Ngozi Okonjo-Iweala projected that US tariffs implemented so far this year could reduce global merchandise trade by approximately 1% in 2025, marking a significant downward revision from earlier forecasts.