A recent poll released on the 20th shows that President Donald Trump’s approval rating for his economic policies has dropped to the lowest level of his presidency. According to a CNBC survey conducted from the 9th to the 13th of the month among 1,000 Americans—with a margin of error of ±3.1 percentage points—only 43% of respondents said they approved of Trump’s economic performance, while 55% disapproved. This marks the first time since his inauguration in January that his economic approval rating has fallen below his disapproval rating in a CNBC poll.
CNBC attributes this shift to the fading economic optimism that surrounded Trump after his election, when many Americans expected strong economic leadership. In terms of overall job performance, 44% of respondents supported the Trump administration, while 51% disapproved.
A key factor behind the decline in economic approval appears to be widespread dissatisfaction with Trump’s tariff policies and his handling of prices. Nearly half of respondents (49%) opposed full-scale tariffs, with only 35% in support. On the topic of inflation and the rising cost of living, 60% gave a negative evaluation, compared to just 37% who viewed it positively. Furthermore, 49% of those surveyed said they believed the U.S. economy would worsen over the next year—the highest percentage since CNBC began asking this question in its 2023 surveys.
While the blue-collar working class, a demographic crucial to Trump’s previous election victory, still expressed relatively positive views on his economic management, their support has eroded. Compared to his first term, the number of negative responses from this group rose by 14 percentage points, indicating that even among core supporters, confidence in Trump’s economic leadership may be weakening.
Micah Roberts, managing partner of the Republican polling firm Public Opinion Strategies, commented on the uncertainty, saying, “We are in the midst of a whirlwind of upheaval in terms of how people feel about what’s going to happen next.” Jay Campbell, a partner at the Democratic polling firm Hart Associates, added, “Voters re-elected Trump because they thought he would improve the economy, but so far, people don’t like what’s going on.”