According to a Reuters/Ipsos poll surveyed on 4,306 people between April 16 and April 21, the U.S. President Donald Trump’s approval rate on handling the economy has dropped to the lowest level both on this term and his previous term, contrasting to his promise of bringing America to its golden age.
In the January poll, conducted a few hours after the inauguration, 42% of the total respondents believed that the president can manage the economy. However, after a trade war and several stock markets crashing in less than 100 days of Trump in office, the figure has dropped to 37%, according to the April poll.
An expert from the American Enterprise Institute stated that the president has brought the economy down instead of up like what he promised when he sworn in. The expert also added that even if Trump reversed course on tariffs now, the economy might not recover in the near time.
Moreover, 76% of respondents show concerns about recession, while 87% and 86% were concerned about inflation and cost of living, respectively. To underscore Americans’ concern, JP Morgan also expected a recession in the U.S. this year, citing retaliatory tariffs from other countries that would damage U.S. exports.
As for Trump, he blames the economic downturn on the Federal Reserve that maintains the interest rate at a higher level.
However, its chairman who Trump tried to fire, Jerome Powell, agreed with the Wall Street economists and stated that the series of high tariffs may push inflation higher for possibly more than a short term period.
Nonetheless, many American still believe in him. Trump’s approval rate only dropped from 45% to 42%, which is still higher than most of former president Joe Biden’s during his term. Majority of Trump’s Republican party, about 81%, also stood with him.
