Majority of Americans disapprove of Trump’s economic management amid stock market turmoil, polls show.
United States President Donald Trump’s handling of the economy is facing growing pushback from Americans amid wild swings in the stock market and growing fears of a recession, new polling shows.
In a CNN/SSRS poll released on Wednesday, 56 percent of respondents said they disapproved of Trump’s economic management – higher than at any point during his first term in office.
The poll had better news for Trump on his other signature issue of immigration, with 51 percent of respondents expressing support for his strict enforcement policies.
A Reuters/Ipsos poll also released on Wednesday found that 57 percent of Americans believe Trump’s economic policies have been too “erratic”.
Trump’s overall approval rating in the CNN and Reuters polls was 45 percent and 44 percent, respectively.
The results come as Trump’s back-and-forth announcements on tariffs have roiled markets and stoked tensions with trading partners, including key US allies.
The benchmark S&P 500 has lost more than $3 trillion since its February peak as investors struggle to make sense of the US president’s “America First” economic agenda.
On Wednesday, the Trump administration imposed 25 percent tariffs on all steel and aluminium imports, prompting retaliatory duties from Canada and the European Union.
The latest tariffs came after Trump a day earlier threatened Canada with a 50 percent duty on steel and aluminium before reversing course after the province of Ontario agreed to suspend a surcharge on electricity exports to some US states.
Trump, who earlier this week declined to rule out the possibility of a recession this year, and his aides have played down the stock market turmoil as a temporary blip on the road to a stronger economy.
“I think this country is going to boom. But as I said, I can do it the easy way or the hard way,” Trump told reporters on Tuesday.
“The hard way to do it is exactly what I am doing, but the results are going to be 20 times greater.”