President Donald Trump’s economic approval ratings have reached an all-time low. The latest CNBC All-America Economic Survey reveals growing voter frustration over tariffs, inflation, and federal spending.

Survey Findings

• Overall Job Approval: 44% support, compared to 51% disapproval.

• Economic Approval: Just 43% expressed approval, while 55% disapprove, marking the first negative rating for economic performance in this survey.

• Recession Sentiment: A notable 57% believe that the U.S. is either in or heading toward a recession, which has increased from 40% in March.

Tariff Opinions

• Disapproval of Tariffs Grows: 49% of respondents view tariffs negatively, while only 35% support them.

• Partisan Perspectives:

• Republicans: 59% favor tariffs, although that’s lower than the 79% approval rating for Trump.

• Democrats: 83% oppose tariffs.

• Independents: 26% express their disapproval.

• Trade Allies’ Perception: Major partners, including Canada, Mexico, the EU, and Japan, are seen as allies rather than threats.

Rising Inflation Concerns

• Inflation Approval Ratings: Only 37% approved of Trump’s management of inflation, while 60% disapprove.

• Disapproval from Republican Base: Interestingly, 58% of Republicans disapprove of his approach to inflation.

• Link to Recession Fears: Increasing consumer prices further fuel expectations of an economic downturn.

Market and Policy Implications

With consumer confidence declining, financial markets might experience ongoing volatility as investors brace themselves for potential policy adjustments regarding tariffs, fiscal support, and interest rates.

Keep Track of Economic Trends

Stay informed on crucial inflation and growth indicators, such as CPI, PCE, and GDP, which will impact political attitudes and market trajectories.

Growing public concern about trade policy and inflation shows the increasing political obstacles for the current administration, further heightening uncertainty in the markets.