By Daily Mail (U.S.) | Created at 2025-03-30 20:51:15 | Updated at 2025-04-01 16:43:59
1 day ago
President Donald Trump is preparing to unveil a sweeping new round of tariffs this week after a month of economic news that has roiled the White House and planted doubt in Americans minds that he can reverse an incoming recession.
Now a new poll shows only 23 percent of Americans feel they are better off financially since Trump took office despite his promises to help get the economy back on track.
This is a blow to the current administration considering the same CBS/YouGov polling taken in January shows that 42 percent expected Trump's policies to improve their pocketbooks.
The numbers essentially flipped on their heads with 28 percent of Americans predicting they would be worse off financially with Trump in office compared to the 42 percent who say they are now feeling the squeeze – an increase of 14 percent.
At nearly twice the rate, Americans feel that they are feeling worse off than better off compared to when Trump took office and now.
And economists are now warning that the administration's new tariffs, set to be rolled out on Wednesday, will only worsen the financial state for struggling Americans with prices set to increase on many major goods from cars, to tech to oil and gas.
Americans do not think that President Donald Trump's policies have made them better off financially since he took office in January
Expectations versus reality from January to now show the percentage of those who thought they would be better and worse off once Trump got into the Oval Office flipped – with 23 percent saying they feel better off now and 42 percent saying they are worse off
Sen. Rand Paul (R-Ky.) warned on Sunday that cars could increase in price between $5,000 and $10,000.
More than half of Americans say that Trump is focusing too much of his economic policies on implementing tariffs on other countries and not enough on actually lowering prices.
Trump has been teasing April 2 as 'Liberation Day,' where he will announce a net set of international tariffs with the aim of making the U.S. more self-reliant. The President wants to domesticate more industries rather than outsourcing and he believes that other countries are getting the better end of the deal when it comes to trade with the U.S.
President Trump won the 2024 election in large part because Americans thought he would help out the economy after former President Joe Biden faced blame for driving the U.S. into a recession.
Still today, 38 percent of Americans blame Biden's policies for inflation and rising price, while 34 percent blame Trump. And 19 percent say that they both bear equal blame.
Trump is preparing to unveil on Wednesday a new set of tariffs on goods from other countries
Besides tariffs, the Trump administration has also been focusing on reducing the federal workforce and cutting the government's inflated budget in what it claims will reduce taxpayer waste – but doesn't promise to lower taxpayer burden.
Americans are split right down the middle on the Department of Government Efficiency (DOGE) federal layoffs, incentivized retirements and reallocations with 50 percent approving and 50 percent against it.
The overall consensus from the latest poll released on Sunday? Americans want economic and financial policy that will directly impact their wallets, not international trade wars and mass federal firings.
The CBS/YouGov poll shows that 48 percent approve of how Trump is handling the economy and 52 percent disapprove.
