US consumer sentiment has plummeted to one of its lowest readings on record amid concerns over President Donald Trump’s trade policies, particularly his global tariffs. A recent ABC-Ipsos poll found that 70% of Americans believe the Republican’s tariff campaign will drive up inflation, a major issue he campaigned on during last year’s presidential election.
The news comes as Trump’s approval rating has fallen steadily since taking office, now standing at 45%, according to a New York Times average of polls. A majority of respondents to a New York Times/Siena poll expressed disapproval over Trump’s efforts to gather more power for the executive branch.
Economists warn that Trump’s policies are increasing the chances of a self-induced recession, making it a coin flip. The rising concerns have pushed long-term inflation expectations to their highest level since 1991.
Source: https://www.bloomberg.com/news/newsletters/2025-04-25/us-consumer-sentiment-plummets-on-trump-trade-war