No. of Recommendations: 5
Weakening voter approval. Trust in Trump’s handling of the economy is dropping, according to the latest polling from Morning Consult. In three weeks, Trump’s net approval on the economy overall has dropped from 16 percentage points to 5. On trade, it has dropped from 13 to 4. And on taxes, it has also dropped from 13 to 4. The good news for Trump is more Americans still approve than disapprove of his economic plans. But that’s a rapid erosion in a short period of time.
The message from voters was clear in the 2024 elections: Their top priority was getting prices down. But Trump’s flurry of executive orders during his first month in office have barely addressed the price of food, rent, and healthcare, which voters worry about most. Instead, avian flu has sent egg prices soaring and led to shortages in stores, which could get worse before it gets better.
Tariffs, meanwhile, are more likely to raise prices than anything else. New steel and aluminum tariffs will raise the costs of cans that contain green beans and soda. Tariffs on Mexico could hit half the produce aisle. Trump, so far, seems unconcerned.
Inflation fears. Americans trying to process Trump’s early actions seem to think it will make inflation worse. Last October, before the election, respondents to the University of Michigan’s monthly sentiment index expected the inflation rate to be 2.7% one year hence. They now expect inflation of 4.3% in 12 months. Other data indicates the main reason they expect higher inflation is Trump’s tariffs. Yahoo Finance.
What should Trump do? Perhaps start a war?
