Trump says US economy is roaring — but a majority of Americans see it differently: Poll
Dissatisfaction among Americans continues to grow because of rising prices and uncertainty about jobs, and this is apparent in President Donald Trump's falling approval ratings. Yet his recent State of the Union address emphasized that the US economy is "roaring like never before.” “We have achieved a transformation like no one has ever seen before. A turnaround for the ages,” he said, before adding, “We will never go back to where we were just a short time ago.” But recent polls suggest that a majority of the population disagrees with his vision about the economy ‘booming.’
According to a Reuters/Ipsos poll, 68% of Americans do not think the economy has undergone a dynamic change, and only 30% are optimistic about the current state. According to a different Washington Post/ABC News/Ipsos poll, 65% of respondents disapproved of the president's inflation control, and 57% disapproved of his economic stewardship. According to a report from the Kiel Institute for the World Economy, 64% of respondents rejected his tariff program, which included high import levies intended to negotiate better trade agreements, even though American consumers have borne the majority of the costs.
Trump's tariffs are expected to raise costs for American households by an average of $1,000, with potential hikes this year if the tariffs are maintained, the nonpartisan Tax Foundation estimated. Trump imposed a 10% duty on international goods, which he hinted may be raised to 15%, in response to a Supreme Court decision that declared many levies unlawful. Meanwhile, the margin of error for a recent Reuters/Ipsos survey of 4,638 American adults, which was conducted between February 18 and 23, is roughly 2%.
Another 51% of viewers expressed dissatisfaction over Trump's policies. Mark Hamrich, a senior economic analyst, commented that while the president described the economy as booming, the reality shows mixed results. Job creation is significantly lower than in previous years, and recent GDP growth fell below expectations, partly due to a government shutdown. Despite some improvements in inflation metrics, rising price levels continue to concern Americans. Key policies mentioned in the speech, such as lower mortgage rates, are largely beyond the White House's direct control. The administration faces challenges in improving economic perceptions before the midterms, Fox News reported.
Meanwhile, Republicans are at risk in the next midterm elections because of their divergent views on the status of the economy. 43% disagree, while 56% think the economy is doing well. Americans in a Reuters/Ipsos poll identified the cost of living as the primary factor influencing their votes in the upcoming midterms, dismissing claims from Trump that "inflation has been defeated".
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