Donald Trump in the Oval Office on March 6. Photo: Alex Wong/Getty Images
President Trump is facing increasing headwinds from everyday Americans when it comes to his economic policies, which have sent markets tumbling and sparked worries of a recession.
Why it matters: Trump’s re-election campaign hinged on lowering prices, but voters are beginning to notice his policies — from a trade war with the U.S.’ closest trading partners to mass deportations — are expected to do the opposite.
The latest: A New CNN/SSRS poll out Wednesday found that only 45% of 1,206 Americans surveyed approved of Trump’s job as president so far, with 54% disapproving. The margin of error is +/- 3.3 percentage points.
- Even more bruising, 56% of voters disapproved of Trump’s handling of the economy — higher than at any point during his first term, per CNN.
- 61% of people surveyed said they disapproved of Trump’s handling of tariffs, while 52% said they disapproved of his handling of the federal budget.
Zoom in: A new Emerson College poll of 1,000 registered voters out Tuesday found Trump’s disapproval rating at 45%, two points higher than it was just a week before, when the same poll was conducted. The margin of error is +/- 3 percentage points.
- Spencer Kimball, executive director of Emerson College Polling, said in a statement that the poll results showed Trump’s “initial ‘honeymoon phase’ seems to be coming to an end.'”
- Trump’s “true challenge will be how voters perceive their financial future,” he added, noting that voters who “disapprove of his handling of the economy, believe tariffs will hurt economic growth, and are skeptical of his cryptocurrency policy.”
The big picture: The ramifications of Trump’s policies are already rippling outwards and impacting businesses and communities.
- The National Federation of Independent Business’s uncertainty index for small businesses rose to its second-highest reading ever last month since the 1980s, and many small businesses report raising prices, MarketWatch reported.
- In fact, a slew of small business owners have spoken out about the detrimental impacts Trump’s tariffs will have on their ability to maintain their businesses.
- Delta, Southwest and American airlines all warned this week that their first-quarter revenue or earnings forecasts will fall below expectations due to weaker consumer demand.
Our thought bubble, from Axios’ Ben Berkowitz: Investors are beginning to realize the first-term “Trump put” — the notion that he’d change policy if markets reacted negatively — isn’t in evidence this time around.
- There’s a greater willingness by his team to let whatever happens happen, which is an adjustment to past Trump economic practice that’s coming as a shock to some people.
