Trump wasn’t underwater about how Americans see his performance against the economy as tariffs create fear of stagflation

• The majority of Americans disapproved President Donald Trump is handling the economy, marking the deepest negative margins of his time at the White House, as he retarded the 2024 campaign. CNN Opinion polls. Trump’s overall job approval is also underwater amid growing fears about a recession and rising inflation.

The economy is the best issue for Americans and was a huge advantage for Donald Trump during the 2024 presidential campaign, but a new survey shows that it is now politically responsible.

According to CNN Opinion poll conducted by SSRS56% of respondents disapproved of the economy’s handling, and 44% approved it. The 12-point negative margin is the worst in his history. CNNvote.

“We have never seen him turn upside down much underwater in terms of approval and disapproval on this issue throughout his presidential career,” David Charian said. CNNDirector and political director of Washington, I said it on Wednesday.

His approval rating for the economy was in consistently active territory during his first term and the 2024 campaign. At the end of October, CNN Opinion survey For then-President Kamala Harris, 50% trusted Trump even more in the economy, compared to just 37%.

But Trump’s aggressive stance on the trade war and tariffs is oppressing him. CNNThe poll shows that 39% disapprove his performance against tariffs by 61% while approved. His overall employment approval score is also negative, with 54% disapproving and 45% approved.

Since he returned to the office, he has levied tariffs on Canada, Mexico, China, aluminum and steel, threatening the missions of the European Union, chips, automobiles and medicines, but mutual tariffs will be paid in a few weeks. The unaddressed process also caused uncertainty, which was added to concern.

The White House defended Trump’s economic plans and pointed out his records during his first term.

“Since President Trump’s election, industry leaders have responded to President Trump’s first economic agenda of tariffs, deregulation and the release of American energy with their investment commitment to creating thousands of new jobs,” spokesman Kush Desai said in a statement. “President Trump will bring historic job, wage and investment growth in his first term and will do so again in his second term.”

Consumers and Business sentiment The read is tanking, as tariffs bring about an exception to future inflation. The University of Michigan’s latest consumer trust survey in March saw a fall from a month ago, reaching 4.9% inflation outlook over the year, the best reading since November 2022.

Meanwhile, economists and Wall Street analysts are lifting odds The economy is falling into a recession. That increased the possibility of that.”Stagflation“The troublesome combination of high prices and weak growth forces the Federal Reserve to fight against either, but not both.

In the final match of Stagflation in the 1970s and early 1980s, the central bank sweeped out inflation and in the process spiked interest rates at the expense of the economy. The current Fed has become clever as “temporary” after the infamous firing of inflation following the high pandemic, so analysts say they are leaning towards ensuring prices are not re-controlled unless the economy and pay crashes.

It sent the market to tailspin Thursday’s S&P 500 joined Nasdaq for revision,stock rebound on friday. But Trump has not been caught up in his trade policy. “I’m not going to bend at all,” said Thursday as he and other administration officials will play the market selling.

He also told business roundtable executives this week that the higher tariffs go, the more likely the companies will move production in the US.

After viewing Trump’s tariffs as a negotiation tool rather than a goal, Wall Street has incorporated his words into his words.

“Even our tariff assumption (which seemed somewhat hoking up until recently) would still be too ti-sick, as there are key risks, except for concern about the possibility of a recession or a potential for further decline in stock prices,” Capital Economics said in a memo on Friday.

This story was originally introduced Fortune.com