Public sentiment towards President Donald Trump’s management of the economy is showing a notable decline, with recent polling indicating that a majority now disapproves for the first time.
A survey conducted by NBC News involving 1,000 registered voters revealed that 54 percent expressed disapproval of Trump’s economic performance. This poll was carried out from March 7 to March 11, with a margin of error of plus or minus 3.1 percentage points.
This marks the first instance in national NBC News polling where Trump has received a majority of negative feedback regarding his economic management.
Newsweek has reached out to the White House for a response via email.
Why It Matters
Trust in Trump’s ability to manage and enhance the economy was considered crucial for the Republican Party’s prospects in the 2024 elections. The current polling indicates widespread public discontent, suggesting that voters feel Trump is failing to deliver on his campaign commitments amid rising concerns about a potential recession and significant tariff strategies affecting international imports.
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What to Know
The NBC News poll, published on Sunday, highlights a paradox where Trump boasts an overall approval rating of 47 percent—one of his highest as president—yet voters are increasingly anxious about economic conditions.
More than half of respondents (54 percent) disapprove of Trump’s economic management, while only 44 percent approve. Additionally, 55 percent disapprove of his handling of inflation and the cost of living, compared to 42 percent who approve.
Only 18 percent believe the economy is in a “good” or “excellent” condition, while 43 percent deem it to be in a poor state. Nearly 40 percent (39 percent) think the economy is in a “fair” condition.
Other surveys indicate growing voter concern regarding Trump’s economic management since his return to the White House on January 20.
A UJ poll released on March 12 revealed that 56 percent of respondents disapprove of Trump’s economic handling—marking the highest disapproval rate during his time in office according to UJ’s data.
This UJ survey, conducted by SSRS from March 6 to March 9, involved 1,206 U.S. adults, with a margin of error of plus or minus 3.3 percentage points.
A recent YouGov/Economist poll found that 43 percent of U.S. adults approve of Trump’s economic policies, while 47 percent disapprove. In a late January poll, nearly half (49 percent) supported Trump’s economic management, while 37 percent disapproved, indicating a sharp 10-point increase in disapproval over just one month.
The latest YouGov/Economist poll was conducted from March 9-11 among 1,699 U.S. adults, with a margin of error of plus or minus 3.2 percentage points.
What People Are Saying
Kristen Hopewell, an economist and director of the University of British Columbia’s Liu Institute for Global Issues, previously commented to Newsweek: “There’s no state that won’t suffer from Trump’s tariffs—but some will experience greater impacts than others. Tariffs on steel and aluminum will increase costs for manufacturers across the U.S., undermining their competitive edge. This erosion will hit the major manufacturing hubs—California, Texas, Illinois, Ohio, Michigan, Pennsylvania, New York, Indiana, Wisconsin, and North Carolina—particularly hard.”
Mark A. DiPlacido, a policy adviser at the conservative think tank American Compass, expressed in a March 17 opinion piece for Newsweek: “The tariffs enacted during Trump’s first administration generated over $230 billion in revenue while reducing reliance on tarifficated goods and staving off inflation. Given the persistent U.S. trade deficit, it’s appropriate for Trump to escalate tariffs. Whether through a standard global tariff of 10-20 percent—which could generate up to $2.2 trillion in revenue over 10 years—or a broader range of reciprocal tariffs based on trade balances with individual nations, the U.S. must protect its economic interests against unfair practices from trading partners.”
Treasury Secretary Scott Bessent, during an NBC News’ Meet the Press episode on Sunday, remarked on the likelihood of recession: “There are no guarantees. Who could have foreseen COVID? I can assert that we are instituting robust policies that are sustainable. Is there a chance of an adjustment? Considering the extensive government spending we’ve engaged in, if that had continued, we would have had to gradually reduce our reliance on that.”
President Donald Trump, on February 2, stated on Truth Social: “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) warned that Trump’s proposed tariffs against Canada and Mexico may negatively impact U.S. GDP growth.
The OECD reported on Monday that U.S. economic growth is anticipated to be 2.2 percent in 2025 and 1.6 percent in 2026, downward revisions from initial projections of 2.4 percent and 2.1 percent, respectively.
