Trump's Actions Damage His Popularity and Economy
Declining Business Confidence
The National Federation of Independent Business's (NFIB) confidence index has plummeted, indicating that businesses are concerned about Trump's policies. Economist David Rosenberg attributes this decline to "policy-induced chaos" stemming from Washington.
Tariffs Hike Prices and Hurt Profits
Trump's tariffs on imports from China, steel, and aluminum are raising costs for businesses, which are passed on to consumers. This has led to inflation fatigue and reduced spending, harming small businesses and the economy.
Weakening Voter Approval
Morning Consult polling reveals a significant drop in voter approval of Trump's handling of the economy. This decline stems from concerns about rising prices and the failure to address inflation in essential areas like food, rent, and healthcare.
Inflation Fears
Trump's actions have stoked inflation fears among consumers, who anticipate price increases of 4.3% within the year. Experts validate these concerns, citing evidence that tariffs raise costs without benefiting the U.S. economy.
Market Reaction
Business owners and consumers are becoming increasingly pessimistic about Trump's economic policies. This negative sentiment may lead to a sell-off in the stock market or other adverse market reactions.