A new Reuters/Ipsos poll reveals that a majority of Americans view President Donald Trump’s economic strategy as erratic, which is impacting the U.S. economy and stock market adversely.
Economic Anxiety Causes Market Volatility
The survey conducted with 1,422 adults found that 57%, including a quarter of Republicans, believe Trump's inconsistent approach harms business. Tariffs on allies Canada and Mexico have negatively scraped the stock and crypto markets. The S&P 500 has lost over $3 trillion since early February. While 44% approve of Trump's presidency, only 32% approve of his handling of living costs. Approximately 70% expect tariffs will make everyday expenses more expensive.
Are Trump's Advisors Helping Him Make Decisions?
Trump's economic advisors, such as the Commerce Secretary, back his approach, pointing to progress in trade negotiations. However, MIT economics professor Simon Johnson believes each tariff makes the situation more difficult for the president.
Policies Could Work in the Long Term
Over 80% of Republicans believe Trump’s decisions are beneficial in the long run. Federal Reserve Chair Jerome Powell states that the US economy remains stable, and current sentiment should not be a concern. However, senators like Richard Blumenthal argue that Trump's policies adversely affect everyday investors.
Americans remain divided on Trump’s economic policy. Despite the administration's efforts, the ramifications of short-term decisions continue to be debated.
