The American voter is angry about one thing above all and Trump's tariffs are in the crossfire, Goldman's chief political economist says.

The article discusses the political and economic implications of President Trump's tariff regime as the 2026 midterm elections approach, highlighting that the cost of living is the primary concern for voters. A report from Goldman Sachs indicates that there is a strong likelihood of tariff reductions due to political pressures and potential Supreme Court rulings deeming many tariffs illegal under the International Emergency Economic Powers Act (IEEPA). The article notes that both political parties are responding to voter dissatisfaction, with Democrats advocating for affordability and Republicans facing challenges in supporting tariff-related fiscal policies. Overall, the administration may be compelled to ease trade barriers in response to economic realities and voter sentiment. [Extracted from the article]