Poll: Significant number of Americans perceive Trump’s economic policies as inconsistent and unpredictable

A recent two-day poll, concluded on Wednesday, revealed that approximately 57% of participants, including a third of Republican respondents, view the US president’s policies as inconsistent. This perception is largely attributed to his attempts to impose tariffs on imports, which have triggered a global trade conflict.

A recent poll reveals that Americans prefer Trump to concentrate on tackling inflation, amidst increasing apprehensions that his policies may, in fact, exacerbate rather than alleviate rising costs.

The imposition of tariffs on allied nations including Canada and Mexico by Trump, coupled with his reluctance to dismiss the possibility of an impending recession, has unsettled the US financial markets. The S&P 500 index has seen a significant decrease, shedding over $3 trillion in market value since it reached its highest level in the previous month.

The White House has acknowledged that some immediate economic challenges may be unavoidable as part of Trump’s strategy to bolster domestic manufacturing. This trade agenda aims to revitalize the U.S. industrial sector by encouraging production within the country.

Wall Street has experienced volatility following a series of abrupt policy shifts from Trump. On Tuesday, Trump unveiled plans for increased tariffs on Canadian metals, initially triggering a downturn in stock markets. However, the announcement was later rescinded on the same day after Canada offered a concession, prompting a stabilization in the market.

According to recent data, 44% of participants in a survey expressed approval of Trump’s performance in office, a statistic that remains consistent with results from a Reuters/Ipsos poll conducted on March 3-4. Notably, Trump received particularly low ratings concerning handling the cost of living, with only 32% of respondents endorsing his approach to the issue.

A significant majority, comprising 70% of respondents, including 90% of Democrats and 60% of Republicans, anticipate that the imposition of higher tariffs will lead to increased prices on groceries and other everyday items.

Throughout his political journey, Trump, known for his transition from real estate magnate to reality television personality, often highlighted the stock market’s performance as a benchmark for economic well-being. However, since reassuming office, he has shifted his focus, minimizing the importance of stock market metrics in assessing economic health.

Speaking at the White House on Monday, Trump addressed the fluctuations in financial markets, noting their inherent volatility with statements that “markets are going to go up and they’re going to go down.” He emphasized the need for a focus on national redevelopment, asserting, “We have to rebuild our country.”

This marks a significant shift in rhetoric from his initial term. In March 2017, then- Trump praised the Dow Jones Industrial Average as it surged past the 21,000 threshold for the first time.

Since Election Day on November 8th, the stock market has experienced an increase in value amounting to $3.2 trillion, while consumer confidence has reached its highest level in 15 years, according to a statement by then-President Donald Trump on the platform now known as X. Jobs have also been highlighted as a significant factor in this financial upswing.

On Wednesday, a spokeswoman for the White House emphasized the importance of patience in response to current market fluctuations. She described the market’s performance as “a snapshot of a particular moment,” suggesting that variations are to be expected and that there will be both favorable and unfavorable periods. Ultimately, she expressed confidence that both Wall Street and Main Street will see benefits from the president’s policies, similar to what occurred during his first term.

In a recent survey, inflation emerged as the predominant concern among participants, with 60% indicating it as the primary issue Trump should address. This figure significantly surpasses the proportion of respondents who prioritized other presidential matters such as downsizing government, tackling immigration, and combating crime.

According to some analysts, the outlook for the U.S. economy has taken a pessimistic turn. J.P. Morgan, a prominent investment bank, has assessed the probability of a U.S. recession occurring this year at approximately 40%. The likelihood of an economic downturn could increase further if Trump proceeds with implementing an additional round of tariffs planned for April.

The White House has increased tariffs on Chinese-manufactured products and, as of Wednesday, raised taxes on an extensive array of imported items, including automotive and tractor parts, construction materials, and machinery components—many of which are sourced from Canada and Mexico. In response, both Canada and the European Union have vowed to implement retaliatory trade measures targeting US goods.

Inflation, which initially rose during the tenure of Democrat Joe Biden following the Trump administration, continues to persist at elevated levels. Analysts anticipate further escalation owing to the impact of tariffs.

Amid ongoing market fluctuations, Republican lawmakers and supporters of Trump on Capitol Hill continue to back his economic strategy.

Senator Roger Marshall, in a conversation with Reuters, expressed his view that the market was “overvalued.”

According to Marshall from Kansas, speaking to Reuters, the market represents just one aspect of a multifaceted issue. He emphasized the importance of addressing other factors such as reducing interest rates and bringing manufacturing jobs back to the country, painting a highly complex economic scenario.

Several observers have expressed concern over the downturns, highlighting the potential impact on Americans, especially retirees and individuals nearing retirement who are particularly sensitive to fluctuations in their retirement savings accounts.

Republican Senator Shelley Moore Capito of West Virginia expressed concern regarding individuals who closely monitor their retirement accounts on a daily basis. She suggested that greater sensitivity may be needed in addressing their apprehensions.

Democratic Senator Richard Blumenthal of Connecticut expressed a contrasting perspective on the recent sell-off. “While for a billionaire it might be insignificant, for the average investor, the loss of this magnitude is a significant concern,” he remarked.

A recent two-day survey revealed that approximately 80% of Republican respondents expressed agreement with the assertion that Trump’s economic initiatives “will pay off in the long run.” This indicates that a significant portion of Trump’s party maintains confidence in his policies, despite concerns over potential short-term impacts.

According to the latest survey results, 41% of respondents believe that Trump’s policies will ultimately prove beneficial. However, this sentiment is echoed by only 5% of Democrats surveyed.

The advocacy group Americans for Responsible Growth, which represents Democratic state treasurers, criticized Trump’s strategies, labeling them as “chaotic” and asserting that they are adversely affecting investors throughout the United States.

Dave Wallack, the executive director of the group, stated that what might have initially appeared as an expedient solution in Trump’s perspective has transformed into a significant predicament. This situation, according to Wallack, not only necessitates a prolonged effort to resolve but has also resulted in elevated costs for consumers and businesses, a reduction in available options, and increased uncertainty.

A nationwide poll encompassing 1,422 American adults has been conducted, bearing a margin of error of three percentage points for the entire respondent pool.