Recent surveys indicate growing public dissatisfaction with President Donald Trump’s handling of the U.S. economy. For the first time, a majority of Americans disapprove of his economic policies, according to an NBC News poll. Conducted from March 7 to 11, the survey of 1,000 registered voters found that 54 percent disapprove of Trump’s economic management, while 44 percent approve. The poll has a margin of error of plus or minus 3.1 percentage points. NBC News noted this marks the first instance in its national polling where Trump’s economic approval rating has fallen into majority disapproval.
Why It Matters
Economic trust has been central to Trump’s appeal, especially in contrast to former Vice President Kamala Harris. His economic management was seen as crucial to securing a Republican victory in 2024. However, growing frustration among voters about unmet campaign promises, fears of a potential recession, and proposed tariffs on imports are contributing to declining support.
What to Know
Despite Trump achieving one of his highest overall approval ratings at 47 percent, concerns about the economy persist. The NBC poll shows that 55 percent disapprove of his approach to inflation and the cost of living, with only 42 percent approving. Additionally, just 18 percent of respondents describe the economy as “good” or “excellent,” while 43 percent view it as poor, and 39 percent rate it as “fair.”
A CNN poll conducted from March 6 to 9 by SSRS similarly found that 56 percent disapprove of Trump’s economic management. This represents the highest level of economic disapproval recorded during his presidency. The survey, which included 1,206 U.S. adults, has a margin of error of plus or minus 3.3 percentage points.
Another YouGov/Economist poll conducted from March 9 to 11 among 1,699 U.S. adults found that 47 percent disapprove of Trump’s handling of jobs and the economy, while 43 percent approve. This marks a shift from a late-January poll in which 49 percent approved, and 37 percent disapproved, indicating a 10-point rise in economic disapproval in just over a month. The margin of error for this poll is plus or minus 3.2 percentage points.
What People Are Saying
Kristen Hopewell, an economist and director at the University of British Columbia’s Liu Institute for Global Issues, commented on the potential impact of Trump’s tariff policies. She told Newsweek, “There’s no state that won’t be harmed by Trump’s tariffs—but some will be hit even harder than others. Tariffs on steel and aluminum will raise costs for manufacturers across the U.S., undermining their competitiveness. This will hurt the biggest hubs of American manufacturing—California, Texas, Illinois, Ohio, Michigan, Pennsylvania, New York, Indiana, Wisconsin, and North Carolina—hardest.”
Mark A. DiPlacido, a policy adviser at the conservative think tank American Compass, defended Trump’s tariff policies in a March 17 opinion piece for Newsweek. He wrote, “The tariffs President Trump levied under his first administration raised more than $230 billion in revenue while reducing U.S. dependence on tariffed goods and avoiding inflation. Given the persistence of the U.S. trade deficit, President Trump is right to take tariffs to the next level. Whether through a simple global tariff of 10-20 percent—which could raise as much as $2.2 trillion in revenue over 10 years—or a wider set of reciprocal tariffs based on our trade balance with each foreign nation, the United States must assert its economic interests against the unfair practices of our trading partners.”
Treasury Secretary Scott Bessent addressed recession concerns during an appearance on NBC News’ Meet the Press, stating, “There are no guarantees. Like, who would’ve predicted COVID? I can predict that we’re putting in robust policies that will be durable. And could there be an adjustment? Because I tell you that this massive government spending that we’ve had, if that had kept going, we would have to wean our country off of that.”
President Trump himself weighed in on economic concerns via Truth Social on February 2. He wrote, “THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID. WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!”
What Happens Next
The Organisation for Economic Co-operation and Development (OECD) has warned that Trump’s tariff policies against Canada and Mexico could negatively impact U.S. GDP growth. The OECD’s latest projections indicate that U.S. economic growth will be 2.2 percent in 2025 and 1.6 percent in 2026—both revised downward from previous estimates of 2.4 percent and 2.1 percent, respectively.
Approval Ratings Breakdown
Poll | Approval | Disapproval | Margin of Error |
NBC News | 44% | 54% | ±3.1% |
CNN | 42% | 56% | ±3.3% |
YouGov/Economist | 43% | 47% | ±3.2% |
With declining approval ratings on economic matters, Trump faces a crucial challenge in convincing voters that his policies will lead to long-term growth. The coming months will determine whether he can regain confidence or if economic concerns will become a liability in the 2024 election.