^{Source: Yahoo}

Approval Ratings Plummet Amid Economic Concerns

President Donald Trump's economic approval rating has reached a new low, with only 43% of Americans approving of his handling of the economy, while 55% disapprove, according to the latest CNBC All-America Economic Survey. This marks the first time in any CNBC poll that he has been net negative on the economy while president. ​

The decline in approval is attributed to widespread dissatisfaction with Trump's management of tariffs, inflation, and government spending. The survey indicates that 49% of the public believe the economy will worsen over the next year, the most pessimistic outlook since 2023.​

Tariffs and Inflation Fuel Public Discontent

Trump's recent implementation of sweeping tariffs—25% on steel and aluminum imports, and 20% on Chinese goods—has sparked concerns about rising consumer prices and supply chain disruptions. Federal Reserve Chair Jerome Powell warned that these tariffs are likely to raise inflation and slow U.S. economic growth. ​

Goldman Sachs projects that the tariffs will increase inflation to 3.5% and reduce GDP growth to just 1%, raising the risk of a recession. ​

Partisan Divide and Shifting Public Opinion

While Trump's Republican base remains largely supportive, with 76% believing the economy will improve, Democrats and independents express growing skepticism. Democrats show a net economic approval of -90, and independents are 23 points more negative compared to his first term.​

Blue-collar workers, a key demographic in Trump's election victory, remain positive on his handling of the economy, but their disapproval numbers have increased by 14 points compared to their average during his first term.​

Market Volatility and Consumer Sentiment

The stock market has experienced significant volatility, with the S&P 500 falling 2.2% amid warnings from major companies about the impact of tariffs. Consumer sentiment has also declined, with the University of Michigan's index dropping 10.5% in March, the largest monthly decrease since 1993. ​‍

Retailers like Temu and Shein have announced price hikes due to the closure of the "de minimis" tariff loophole, further straining consumer budgets. ​

Political Implications and Future Outlook

Despite the economic challenges, Trump's overall job approval rating remains at 47%, matching his best-ever mark as president. However, 51% of voters disapprove of his performance, indicating a deeply divided electorate. ​‍

As economic concerns mount, the administration faces increasing pressure to address inflation and stabilize markets. The coming months will be critical in determining the political and economic trajectory of Trump's presidency.

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