A majority of Americans see President Donald Trump’s economic policies as unsteady, complaining that his tariff-heavy strategy is hurting the US economy and stock market, according to a new Reuters/Ipsos poll.
The survey, conducted nationwide with 1,422 adults, found that 57% of respondents, a third of who were Republicans, believe Trump’s inconsistent approach is not good for business.
According to the opinion poll, all of Trump’s tariffs on US allies Canada and Mexico have negatively impacted the stock and crypto market. The S&P 500 has lost more than $3 trillion in value since hitting an all-time high last month at the start of February.
Trump’s administration had announced tariff increases on Canadian metals on Tuesday, only for the POTUS to fall back later that same day after Canada’s concessions. Wall Street is not happy with most of what is going on, and they’re calling for the president to be straight on his word.
Economic ‘anxiety’ causes market volatility
Americans are more focused on inflation and rising costs rather than stock market performance, the poll revealed. While 44% of respondents approve of Trump’s job as president, only 32% gave him the “thumbs up” on managing the cost of living.
70% of those surveyed, including six in ten Republicans, believe tariffs will make everyday expenses, such as groceries, even more expensive.
The White House has stood behind Trump’s economic strategy, arguing that short-term financial pain is necessary to bring back and create more manufacturing jobs. A Washington spokesperson called stock market fluctuations “a snapshot of a moment in time,” insisting that in the end, both Wall Street and Main Street will benefit from the US president’s trade policies.
“Markets are going to go up and they’re going to go down. We have to rebuild our country,” Trump said Monday.
Are Trump’s advisors helping him make decisions?
The president’s economic figureheads, including Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and National Economic Council Director Kevin Hassett, all are all singing the same melody; Trump is doing what’s best for America.
In several press briefings and interviews, they have coined Trump’s tariff policy as “fluid,” mentioning the progress in trade negotiations with foreign nations involving discussions on fentanyl and immigration, issues the current administration promised to address.
The president might seem headstrong on getting everything he wants, but in some instances, he was forced to take steps back. He has twice delayed tariffs on Canada and Mexico and postponed planned duties on dairy and lumber. Moreover, US and Canadian officials have agreed to meet later this week to further cool down the already tense trade “wars.”
“The president is in a tight spot, and every tariff (or threatened tariff) makes his position more difficult,” said Simon Johnson, an economics professor at MIT. “If he keeps going in this direction, prices will rise, and the economy will slow even further.”
Policies could work in the long term
Nearly 80% of Republicans in the Reuters poll said they believe Trump’s decisions will pay off in the long run. Among the general public, only 41% agreed, with just 5% of Democrats confident in his policies.
Speaking at a University of Chicago event last Friday, Federal Reserve Chair Jerome Powell said the US economy is still stable, and consumers should not worry about how uneasy the public seems.
“Sentiment readings have not been a good predictor of consumption growth in recent years. We do not need to be in a hurry, and are well positioned to wait for greater clarity,” Powell remarked.
Others, including Republican Senator Shelley Moore Capito of West Virginia, are worried about Americans relying on retirement accounts. “People who are relying on retirement accounts watch them daily. Maybe [Trump] needs to be a little more sensitive to that,” she said.
Democratic Senator Richard Blumenthal of Connecticut directed the blame straight to the US President. “It may not make any difference to him because he’s a billionaire. But to the everyday investor, it’s a really big deal to lose this amount of money,” he asserted.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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