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In recent surveys, President Donald Trump’s approval ratings regarding economic performance have taken a noticeable hit as his administration continues to engage in complex trade negotiations. With the recent implementation of reciprocal tariffs, the American public appears increasingly critical of the effects these policies have on the economy.
According to a CNN poll conducted by SSRS from April 17 to April 24, approximately 55% of Americans feel that Trump’s economic policies have worsened conditions in the country. This marks an increase from 51% reported in a similar poll conducted earlier in March.
Furthermore, about 60% of respondents believe Trump’s policies have negatively impacted the cost of living in their communities. In stark contrast, only 12% think these policies have led to a decrease in living expenses, while 28% feel there has been no effect thus far.
Public Sentiment Towards the Economy
Currently, only 34% of Americans describe themselves as feeling enthusiastic or optimistic about the economy. Alarmingly, 66% express feelings of pessimism or anxiety regarding the economic outlook. A significant 69% of those surveyed predict that the U.S. economy is likely to enter a recession within the next year.
The CNN poll further reveals that 75% of Americans believe Trump’s approach to tariffs will harm the U.S. economy in the short term. Only 12% anticipate any positive effects during this period. Additionally, when looking at the long-term effects, 53% think the tariffs will ultimately be detrimental, while 34% hold a contrary view.
Trump’s Approval Ratings Decline
In a separate survey conducted by NPR/PBS News/Marist between April 21 and 23, it was shown that 45% of Americans give Trump a failing grade as he approaches the 100-day mark of his second term. This disapproval primarily comes from Democratic respondents, with 80% expressing dissatisfaction.
Overall, 55% of individuals in the NPR/PBS poll disapprove of Trump’s handling of the economy. This includes 88% of Democrats, 59% of independents, and a surprising 17% of Republicans. With only 39% of Americans approving his economic management, Trump’s overall approval rating now stands at 42%, a decline from the 45% recorded in March.
Perceptions of Economic Management
Notably, about 61% of Americans believe Trump has been hastily implementing changes without adequately considering potential consequences. This perception has increased from 56% since the previous month.
Despite these unfavorable ratings, Trump remains defiant. Just ahead of his 100th day in office, he dismissed negative polling, labeling them as fake news and asserting remarkable progress in his economic strategy.
On social media, Trump stated that the U.S. had previously lost billions per day under the Biden administration but has now reversed that trend. His promise was to make significant profits soon as part of his ongoing effort to make America great again.
The Administration’s Stance on Trade Policies
The Trump administration’s reciprocal tariffs and deregulation efforts have brought considerable turmoil to the market but the White House insists these actions are necessary. During a briefing marking his 100th day in office, White House Press Secretary Karoline Leavitt urged the public to trust in Trump’s economic strategy.
Leavitt emphasized the previous successes Trump achieved during his first term, pointing to a proven formula of massive deregulation, energy independence, and tax cuts aimed at increasing the disposable income of hardworking Americans.
In discussing trade deals, Leavitt explained that Trump is determined to rectify the previous administration’s shortcomings as well as the systemic issues that have impacted the middle class for decades. She stated that the president’s goal is to restore a golden age of prosperity. It is a process that she believes is already underway.
Future Economic Policies and Legislative Efforts
According to Treasury Secretary Scott Bessent, the administration is currently working closely with Republican leaders in both the House and the Senate on a new bill aimed at making the 2017 tax cuts permanent. The goal of this legislation is to reduce market uncertainty stemming from current trade policies.
Bessent acknowledged that Trump’s negotiating style creates what he terms “strategic uncertainty”. While this may disconcert some market actors, he believes it is essential for driving favorable trade deals for the American populace. He noted that previous negotiations led to unfavorable results over several decades.
He projects that as the administration progresses toward announcing new deals, market certainty will improve. However, he cautions that certainty is not always beneficial in negotiation scenarios. Bessent is adamant about unwinding unfavorable trade agreements and making them fair for American interests.
Looking Ahead
The economic climate remains a contentious issue leading into the early stages of Trump’s second term. As trade negotiations continue and public sentiment shifts, the administration faces significant challenges in restoring confidence in its economic policies. Continuous polling will likely reflect evolving public opinion on these crucial matters.
