Trump has never been underwater as Americans observe their effect on the economy because the tariffs raise the fears of stagflation

• Most Americans do not approve The job of President Donald Trump, who deals with the economy, marking a turnaround from the 2024 campaign and the deepest negative margins during his stay in the White House, states CNN poll. Trump’s overall job approval is also under water due to growing fear of recession and greater inflation.

The economy for Americans was the main question and was a great advantage for Donald Trump during the 2024 presidential campaign, but new research shows that this is now a political responsibility.

According to a CNN SSRS survey56% of respondents do not approve of his economy, while 44% approve. That negative margin of 12 points is the worst ever CNNsurveys.

“We have never seen him so much underwater and upside down in terms of approval and disapproval of this issue in his entire president’s career,” David Chalian, CNNChief and political director of the Washington Office, on Wednesday.

His grades on the economy were consistently in a positive territory during his first term and during the 2024 campaign. At the end of October, a CNN poll He found 50% of a reliable Trump more about economics than only 37% for then President Kamal Harris.

But Trump’s trade war and an aggressive position on tariffs, weighing it. CNNThe survey shows that 61% do not approve of its effect on the tariffs, while 39% approve. Its total job approval result is also negative, with 54% disapproval and 45% of approval.

Ever since he returned to the office, he imposed tariffs to Canada, Mexico, China, Aluminum and Steel, while threatening duties at the European Union, chips, cars and medicines, while reciprocal tariffs will be in a few weeks. The process, which again, again, also took advantage of the insecurity that added worries.

The White House defended Trump’s economic plans and pointed to his record during her first term.

“Because he is elected President Trump, the leaders of the industry responded to the first economic plan of tariff, deregulation of President Trump, and the release of US energy with trillion investments in investment obligations that will create thousands of new jobs,” said spokesman Kush Desai. “In his first term, President Trump delivered the historic job, salary and growth of investment, and he should have repeated it in his second term.”

Consumer and Business feeling Readings are tanned because the tariffs also spin the exceptions of future inflation. The latest research of consumer confidence in Michigan for March collapsed a month earlier, and a one -year appearance for inflation reached 4.9%, which read the most since November 2022.

Meanwhile, economists and analysts on Wall Street raise their chances that the economy will get into a recession. It raised the possibility “stagflation“A group combinations of high prices and poor growth that forces federal reserves to fight against one or the other, but not both.

In the last part of the Stagflation during the 1970s and early 1980s, the central bank encouraged interest rates to throw out inflation, sacrificing the economy in the process. Since the current Fed is still smart from its infamous rejection of high after pandemic as “transient”, analysts have said that they will lean according to ensuring that prices are not reacting-in-out if the economy and canvas list do not crash.

Who sent markets to a tail with a tail S&P 500 on Thursday joined Nasdaq -uu correctionthough supplies recovered on Friday. But Trump does not take place in his trade policy, saying Thursday that “I will not bend at all,” because he and other administration officials are playing on the market.

He also told the managers of a business round table this week to go as much tariff as possible, it is more likely that companies will move production to the United States.

After seeing Trump’s Tariffs to a great extent as a negotiating tool, not as a goal, Wall Street now takes him to his word.

“Given that the administration shrugged for concern due to the potential of the recession or further fall in capital price, the key risk is that even our tariff assumptions – which have seemed a little hawkin until recently – still too timid,” she said on Friday in a note.

This story is originally displayed on Fortune.com

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