Americans souring on Trump's economic strategy, polls say

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“Two new polls show a majority of Americans disapprove of President Trump’s handling of the economy, particularly his trade policies. This marks a significant shift in public opinion, as Trump had previously received consistent support on economic matters.

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Ben Berkowitz

Donald Trump addresses the Economic Club of New York in Sept. 2024. Photo: Spencer Platt/Getty Images

A majority of Americans disapprove of President Trump's handling of the economy, particularly his trade policies, per two new polls out Wednesday.

Why it matters: Over 10 years in and around public office, and despite all the other controversies surrounding him, one issue where people have consistently given Trump the benefit of the doubt was in his handling of economic affairs.

• Not anymore. 

By the numbers: 55% of U.S. adults say they are not confident Trump can make good decisions about economic policy, per a Pew Research Center survey of 3,589 people conducted April 7-13.

• That's his lowest rating on that question in data going back to 2019, Pew said, and down 14 points from a survey conducted just after Trump's election last November.
• "[W]hen it comes to the economy, Trump draws less confidence today than he did either in his first term or during the 2024 campaign," Pew said in a report. 

That followed another survey earlier Wednesday from Reuters/Ipsos, which found 37% of Americans approve of Trump's handling of the economy. 

• That is Trump's worst-ever rating on the economic question in Reuters/Ipsos polling, going back to the start of his first presidency.
• It's also not far off the Biden administration's lowest numbers. Ipsos polled 4,306 people from April 16-21.

The intrigue: Respondents in both polls took a dim view of Trump's sweeping efforts to remake the global economy via historic tariffs.

• Only 36% in the Ipsos survey said they approved of his performance on international trade, while just 39% in the Pew survey said they approved of his tariff increases. 

The bottom line: The U.S. economy isn't in a recession, and there's no guarantee that one will happen either. But pessimism that one might be coming is off the charts.

• New Gallup polling out this week shows that a majority of Americans, for the first time since at least 2001, believe their economic situation is worsening.“