Trump's Approval Plummets as Voters Lose Faith in Tariffs & Sticky Inflation, Newest Poll Shows

A newly released opinion poll shows that a growing number of Americans lack confidence in Trump's approach to handling economic issues.

A survey conducted by CBS and YouGov from March 27 to 28 revealed that 52% of respondents disapprove of Trump's handling of economic issues, while 48% approve. In early March, the figures were 51% approval and 49% disapproval.

Ask Aime: What impact will the lack of confidence in Trump's economic approach have on the market?

The latest results also indicate that 56% of respondents disapprove of Trump's approach to inflation, while 44% approve—a shift from early March, when 46% approved and 54% disapproved.

If this poll reflects genuine sentiment, it means that in less than a month, Trump's economic agenda has gone from mostly positive to mostly negative. Meanwhile, negative perceptions of his inflation policies have further intensified.

The poll also found that 64% of respondents believe the Trump administration has not paid enough attention to lowering prices, while 55% think the government is overly focused on tariff policies. Notably, the survey was conducted after Trump announced plans to impose a 25% tariff on imported cars.

Currently, U.S. tariffs on steel and aluminum are already in effect, with retaliatory tariffs set to begin on April 2 and auto tariffs to increase on April 3. Trump claims that tariffs will encourage more production to shift to the U.S., generate new government revenue, and help reduce national debt.

While the administration argues that tariffs will bring long-term benefits, most economists view them as a significant tax hike that will raise overall prices and ultimately harm consumers—a perspective broadly shared by the public.

The CBS poll shows that 72% of respondents believe tariffs will drive up prices in the short term, while 47% think they will lead to long-term price increases.

Additionally, only 23% of respondents believe their financial situation will improve, compared to 42% in January.

The report highlights that even among Republican respondents, optimism about their financial prospects has declined sharply. Before Trump took office, three-quarters of Republicans believed his policies would improve their lives, but now that figure is less than half.

Due to the risk of a sharp escalation in trade tensions, goldman sachs has raised its probability of a U.S. recession within the next 12 months from 20% to around 35%. The firm has also revised its inflation forecast, projecting U.S. PCE inflation to reach 3.5% by the end of 2025.

Last Friday, the U.S. Bureau of Economic Analysis reported that the February PCE price index rose 2.5% year-on-year. If Goldman's prediction holds, it would mean the PCE inflation rate could accelerate by a full percentage point over the next 10 months.

Interestingly, the poll also reflects that more than two-thirds (67%) of American respondents disapprove of Trump's agenda to take over greenland. Over the weekend, Trump stated that he would not rule out any possibility, including military force, to acquire Greenland.

In response, former U.S. Ambassador to Denmark Rufus Gifford criticized the administration's approach, saying it lacks even the most basic respect regarding the Greenland issue.