New poll shock for Donald Trump: Majority of Americans say US President is failing on economy and inflation

A new poll conducted between April 8–11, 2025, with a nationally representative sample of 2,410 US adults, shows deepening concerns over Donald Trump’s economic policies, especially on tariffs. The survey has a margin of error of ±2.4 percentage points.

Americans brace for price hikes from tariffs

As per CBS News/YouGov survey, three in four Americans (75%) believe Trump’s new tariffs will raise prices in the short term, with nearly half (48%) expecting long-term inflationary effects. Inflation-weary consumers now feel that Trump’s tariff policies are hurting them financially rather than helping.

Trump’s ratings on inflation, economy slide

The poll shows falling approval ratings for Trump’s handling of key economic issues:

• Economy: 44% approve, 56% disapprove
• Inflation: 40% approve, 60% disapprove
• Overall job approval: 47% approve, 53% disapprove

While still higher than at any point during his first term, his overall rating has slipped from earlier highs.

Perception shift: It's Trump’s economy now

A majority (54%) say the current state of the economy is primarily due to Trump’s policies, not Biden’s (21%). An even larger group (75%) assign Trump at least partial responsibility for the economy’s condition.

Mixed views on tariffs and trade strategy

• Americans are skeptical of the permanence of Trump’s tariffs.
• 59% think the tariffs are a negotiation tactic and will eventually be removed.
• 41% believe Trump will keep the tariffs permanently.
• There’s a split on intent versus execution:
• 51% support Trump’s trade goals
• But 63% take issue with his approach.

Majority opposes new tariffs

Despite understanding Trump’s goals, 58% of Americans oppose the new tariffs, while only 42% are in favor.

Public divided on tariffs' impact on jobs

• 49% think tariffs will add manufacturing jobs.
• 25% expect job losses.
• 26% predict no impact.
• Support for job growth from tariffs is largely driven by Republicans.

Who benefits from tariffs? Not the middle class

The public overwhelmingly believes the wealthy (74%) and large corporations (71%) will benefit the most. Only 42% believe the middle or working class will see gains.

Outlook worsens for US economy

• Economic confidence continues to erode:
• Only 17% think the economy will hold steady over the next year.
• 33% now expect a recession.

Market volatility during the survey period also fed into the sentiment that Trump’s policies are pushing the market downward.

Republicans show patience, Democrats don’t

While Republicans and independents say Trump’s trade policies need more time to judge, Democrats are more likely to believe the impact can already be assessed — and it's mostly negative.