Americans are starting to see through Donald Trump’s economic promises as he continues to tank the economy with his volatile approach to global trade.
A new poll from The Economist/YouGov, conducted April 13–15, shows that Trump’s economic approval is at an all-time low. Fifty-two percent of respondents said the economy is getting worse, up 5 percent from “Liberation Day,” when Trump implemented reciprocal tariffs of 10 percent or more on about 90 countries, sending stock markets plummeting to a generational low. He then rescinded the majority of those tariffs days later (but increased the ones on China), causing confusion and chaos for consumers and small-business owners.
Three-quarters of voters said they thought tariffs “will increase the price of goods they buy,” and about two-thirds of Americans think the state of the stock market is Trump’s fault, according to the YouGov poll.
As data journalist G. Elliott Morris pointed out Friday in a Substack post, Trump’s average net economic approval in YouGov polls over the last month is -6 percent, the worst he’s ever polled as president. While handling the outbreak of Covid-19 during his first term, Trump’s net economic approval rating was 3 percent, Morris noted.
Trump ran his 2024 presidential campaign on the promise of economic prosperity and change for millions of Americans fed up with inflation and the high cost of living. He pledged an “end to the devastating inflation crisis,” lower prices, tax cuts, and a tariff scheme that would bolster American manufacturing. But as the likelihood of a recession inches closer, just three months into Trump’s term, people are clearly starting to lose faith in the president’s disastrous economic plan. Forty-two percent of respondents said they “strongly or somewhat oppose” Trump’s budget, and the percentage of Americans who say the economy is their top concern has increased since Trump took office, the poll found.
The president’s performance isn’t flailing in just the Economist/YouGov poll, either. Investor sentiment has only been lower a handful of times since this data started being recorded, including post-9/11 and during the 2008 global financial crisis, according to a review of economic polls from The Independent.
In a University of Massachusetts Amherst poll of 1,000 respondents conducted April 4–9, nearly two-thirds of people said they don’t think Trump is handling inflation well and 58 percent think he is mishandling trade policy.
“Three months into his second administration, the honeymoon might be over for President Donald Trump,” Tatishe Nteta, the poll’s director, said in a statement. Hopefully he’s right.