The latest CNBC All American Economic Survey indicates that President Trump’s economic approval ratings are plummeting, hitting a new low in his presidency. This drop coincides with the public’s discontent about the administration’s management of tariffs, spending inflation, and expenditures, indicating heightened concerns about the economy’s trajectory on the governmental level.
Economic Optimism is No More
As part of the survey, 1,000 Americans were interviewed between April 9th and the 13th, along with an August 2022 survey, indicating that the Trump-supporting economic “rally” is over. Optimism is on the downtrend, with stock market predictions declining substantially. Moreover, more individuals predict worsening economic conditions than any time since mid-2022.
Trump’s Net Negative Rating
Trump’s overarching approval rating lingers at 44, 51 disapproving overall. However, his economic approval rating is at 43 with a disapproval rate of 55. It is a recorded history in any CNBC poll where Trump’s net economic disapproval has surpassed approval.
Partisan Divide: Intensifying Discontent
As the survey shows, this discontent is often along partisan lines. Democrats registered a net economic approval of minus-90, which is 30 points more negative than the average during the Trump’s first term. Independents are also significantly more pessimistic, registering a net negative economic approval 23 points lower than their prior average.
Blue-Collar Blues: Trump’s Key Demographic Shifts
Even blue-collar workers, the demographic that significantly helped elect Trump, have changed their stance markedly. While they remain positive on Trump’s handling of the economy, his approval ratings among them has plummeted by 14 points relative to his first term.
A Question of Time: Long-Term Impact vs. Immediate Impact
As the survey details, among the proponents of policies, 27% believe that it would take a year or longer for any change to take place. On the other side, 40% of those with a negative outlook firmly believe that the policies are already hurting the economy.
Turbulent Times: Domain of Pessimism and Partisanship
“We’re in a turbulent, kind of maelstrom of change when it comes to how people feel about what’s going to happen next,” noted Micah Roberts, Public Opinion Strategies’s managing partner. These Republican pollster for the survey commented on the data saying, “The data … suggests more than ever that it’s the negative partisan reaction that’s driving and sustaining discontent and trepidation about what comes next.”
Tariff Troubles: Discontent on the Rise
As apparent in the data, tariffs emerge as public dissatisfaction’s significant source. Overall, Americans disapprove of tariffs by a 49 to 35 margin, and majorities believe their economic consequences are detrimental to American workers, inflation, and the economy overall. Democrats overwhelmingly disapprove of tariffs with an 83 point margin, and Independents are 26 points disapproving. Even among Trump’s Republican base, tariff approval is lower than his overall presidential approval. This provides evidence for a fragmenting support among his constituents.
Concluding Remarks: The CBN All-Area Economic Survey:
This survey showcases America as a critically challenging environment for the Trump administration. The economic approval standing of President Trump along with the widening worries over the economic tariffs and inflation is highly alarming. Consequently changes in public opinion could result in a drastic public sentiment change. In regard to the 2024 bath, answering the questions and resuscitating the voters’ trust will be of utmost importance to the President.
