- Most Americans disagree According to a family CNN polling. Trump’s overall work approval is also underwater as people are increasingly afraid of recession and inflation.
The economy has been the first issue for Americans during the 2024 presidential election, a big advantage for Donald Trump, but a new survey shows that it is now a political responsibility.
according to CNN SSRS polls56% of respondents disapproved of his handling of the economy, while 44% approved it. That negative balance of 12 points is the worst he has ever seen CNNvote.
“We have never seen him recognize and oppose this issue in his entire presidential career underwater and upside down,” David Chalian,” said David Chalian. CNNChief Director and Political Director of the Washington Bureau Said Wednesday.
His recognition of the economy has always been in an active field during his first semester and 2024 campaign. At the end of October, CNN polling It was found that 50% had more trust in Trump’s economy, compared with only 37% of Vice President Kamala Harris.
But Trump’s trade war and positive stance on tariffs have overwhelmed him. CNNThe poll showed that 61% disapprove of his performance on tariffs, while 39% approved his tariffs. His overall job approval score was also negative, with 54% disapproval and 45% approval.
Since he returned to the office, he has imposed tariffs on Canada, Mexico, China, aluminum and steel while threatening the duties of the EU, chips, cars and medicines, while reciprocal tariffs deserve it in weeks. The isolated, ever-changing process has also caused uncertainty among people, which has also increased concerns.
The White House defended Trump’s economic plan and pointed out his record during his first term.
“Since President Trump’s election, industry leaders have responded to President Trump’s first U.S. tariffs, deregulation and release U.S. energy economic agenda, and will create thousands of new jobs with trillions of investment commitments,” spokesman Kush Desai said in a statement. “President Trump achieved historic jobs, wages and investment growth in his first term and will do so again in his second term.”
Consumers and Business sentiment The reading is fueling as tariffs also stimulate future inflation measures. The latest University of Michigan Consumer Confidence Survey began a sharp drop a month ago, with a one-year inflation outlook reaching 4.9%, the highest reading since November 2022.
Meanwhile, economists and Wall Street analysts are raising odds The economy will fall into recession. This proposesStagnant“The combination of high prices and weak growth has forced the Fed to fight one or one another, but not both.
During the last scattered in the 1970s and early 1980s, central banks soared interest rates to eliminate inflation at the expense of the economy. As the current Fed is still seen as “temporary” for its infamous high post-pandemic inflation, analysts say it will tend to ensure prices don’t refuel unless the economy and wages collapse.
This puts the market at a tail S&P 500 joins Nasdaq on Thursdayalthough stocks Rebound On Friday. But Trump hasn’t paid for his trade policy, saying “I won’t bend over at all” because he and other administration officials have lowered the market’s sell-off.
He also told executives at this week’s business roundtable that the higher the tariffs, the more likely the company is to relocate production in the U.S.
After largely seeing Trump’s tariffs as a tool of negotiation rather than a target, Wall Street is now in his words.
“The key risk now is that even our tariff assumptions (which seemed to be some hawkish until recently) remained too timid,” Capital Economics said in a note on Friday.
This story was originally fortune.com
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