US Consumer Sentiment Plummets on Trump Trade War

As US President Donald Trump departed for Italy to attend the funeral of Pope Francis, the news at home for his administration was not good as the week came to an end. On the economic front, there is record fear among his constituents. US consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 on worries over the domestic consequences from his tariffs. Economists see Trump’s policies, and in particular his global trade war, as making the chances of a self-induced recession a coin flip.

An ABC-Ipsos poll found that seven in ten Americans feel the Republican’s tariff campaign will drive up inflation—the main issue he campaigned on during last year’s presidential election. And a New York Times average of polls reported Trump’s overall approval rating has fallen steadily since he took office and is now at 45%. And finally, a majority of respondents to a New York Times/Siena poll expressed disapproval over Trump’s efforts to gather more power to the executive.