Donald Trump's economic approval tanks to record low as tariff fallout hits home, majority of Americans say he's failing the economy
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Donald Trump's Economic Approval Hits Record Low
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The Fallout of Trump's Tariff Policies
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Over the last few months, a lot of Americans have found themselves struggling with the effects of US president Donald Trump's economic agenda, particularly his hardline tariff actions. Trump's initial pledge of cheaper prices, tax breaks, and an economic boom earlier won people optimism in his election campaign. Now, however, with increasing inflation, market turbulence, and more uncertainty, his pledges seem to be failing and American's are loosing confidence in him, as per a report.In a recently conducted, CNBC All-America Economic Survey , Trump's approval rating on his management of the economy has dropped to an all-time low, reaching only 43% approval and 55% disapproval, reported Fortune. For the first time during his presidency, his economic approval dipped into negative territory, indicating growing frustration among voters who had earlier backed his economic growth vision, as per the report.The CNBC poll also revealed Trump's worst numbers come on his handling of inflation, with 57% of Americans saying they believe "we will soon be" or "are already in", a recession, as per Fortune.A partner with the Democratic polling firm Hart Associates, Jay Campbell told CNBC, 'Donald Trump was reelected specifically to improve the economy, and so far, people are not liking what they're seeing,' quoted Fortune.Even other recent surveys show a similar data. In a Gallup poll, more than half of Americans expressed lack of trust in Trump to handle the economy, with 44% responding that they have "almost none" and 11% that they have only "a little" confidence, according to the report. Trump's general approval rating is also behind the normal first-quarter ratings for presidents at 45%, far beneath the historical mean of 60% for for all presidents elected from 1952 to 2020, in their initial quarter, as per Fortune.Over the past few months, Trump has slapped tariffs on a vast array of goods, including ones from Canada, Mexico, China, and sectors such as aluminum and steel, according to the report. He's even threatened additional tariffs against the European Union, chips, autos, and pharmaceuticals, as per Fortune. But these actions haven't been uncertain, some tariffs have been suspended, while others keep changing. This unstable approach has created turmoil in markets and left everyone wondering what's next.The uncertainty surrounding Trump's tariff policies has worried business leaders. A recent CEOs' survey showed that 62% are predicting a possible recession or economic slowdown in the next six months, reported Fortune.President and CEO of St. Claire HealthCare in Kentucky, Donald H. Lloyd II said, 'This uncertainty needs to stop. I support tariffs but believe they need to be applied strategically, not globally,' quoted Fortune.While, the founder of Bridgewater Associates, Ray Dalio pointed out that, 'Right now, we are at a decision-making point and very close to a recession. I'm worried about something worse than a recession if this isn't handled well. We have something that's much more profound, we have a breaking down of the monetary order,' quoted Fortune.Tariffs create uncertainty, which can affect business plans, pricing, and growth projections.No, his economic approval rating recently hit a record low of 43%, with 55% disapproving of his handling of the economy, reported Fortune.
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