Trump Approval Rating on Economy Hits Record Low, Quinnipiac Poll Shows

Trump's New Low Approval Rating

President Trump hit his lowest approval rating on the economy in a Quinnipiac University Poll released Wednesday. Just 38 percent of respondents said they approve of the president’s handling of the economy, while 57 percent disapproved and 5 percent did not provide an opinion. Trump’s previous low on the economy was a 39 percent approval rating, a mark he hit four times — including last month — since the start of his first term in 2017.

Partisan Views Split

The respondents were split along partisan lines: 88 percent of Republicans and just 2 percent of Democrats approved of the president’s handling of the economy. Only 30 percent of independents backed Trump on the issue.

Survey Details

• Conducted: Oct. 16-20
• Participants: 1,327 registered voters
• Margin of Error: 3.5 percentage points

Impact of Tariffs on the Economy

Since returning to office in January, the president has imposed sweeping tariffs on trading partners around the world, impacting various industries.

• 50 percent tariffs on imported iron, steel, aluminum and copper, with exceptions for U.K. materials.
• 50 percent levies on goods imported from India and Brazil.
• 30 percent levies on goods imported from China.

Cost Implications for Consumers

According to a Goldman Sachs analysis, American consumers will shoulder 55 percent of the tariff costs this year. Additionally, businesses will bear 22 percent of the costs. It is expected that U.S. firms will pass their costs onto consumers in the coming months.

According to the Bureau of Labor Statistics, as of August, the civilian unemployment rate is 4.3 percent, while the 12-month inflation rate stands at 2.9 percent.