Few issues in U.S. politics have a greater impact on as many Americans as the economy. A single percentage point increase in the unemployment rate translates to job losses for more than 1.6 million Americans, rising consumer prices can reduce household buying power by thousands of dollars in a single year, and heightened long-term uncertainty can erode investor confidence and hollow out retirement savings accounts. As a result, maintaining economic stability is typically a top priority for any presidential administration.
In the first few months of his second term, however, President Donald Trump’s economic policies have offered little in the way of certainty and stability. Since taking office, Trump has drastically changed the economic relationships between the U.S. and many of its key trading partners by implementing a series of sweeping tariffs. These policies have also rattled investors and sent shockwaves through the U.S. stock market.
Additionally, several economic indicators suggest a potential recession may be approaching—including a 0.5% economic contraction in the first quarter of 2025 and a historic 29% drop in the Michigan Index of Consumer Sentiment during the first four months of the year.
Most recently, the president passed his Big Beautiful Bill, a piece of legislation projected to add as much as $3.9 trillion to the national debt over the next decade, according to some estimates. Currently, the national debt is 120% of U.S. gross domestic product, and interest payments on that debt already exceed the annual U.S. defense budget.
In this context, public support for Trump’s economic policies has eroded over the course of his second term. According to a recent poll conducted by Morning Consult, a public opinion research company, just 44.7% of registered voters approve of Trump’s handling of the economy, down from 51.2% at the outset of his presidency. Among certain groups of American voters, Trump’s economic approval rating has fallen even more.
Using data from Morning Consult, 24/7 Wall St. identified the Americans who are losing faith in Trump’s economic policies. We reviewed polling results among multiple demographic groups and subgroups—including gender, race, religion, educational attainment, employment status and sector, income, age, voting history, and political ideology and affiliation, among others—and ranked them based on the change in their approval rating of Trump’s handling of the economy since the start of his second term. The baseline, pre-tariff survey was conducted between Jan. 31 and Feb. 3, 2025, and the latest survey numbers were collected between July 3 and July 6, 2025. We also calculated more recent changes in Trump’s economic approval rating by comparing his current numbers to those collected from June 27 to June 29, 2025.
Since the early days of the new administration, support for Trump’s economic policies has declined in all but two of the 55 demographic groups considered in this article. Among the 36 demographic groups that appear on this list, Trump’s economic approval rating has fallen by anywhere from 5 to more than 20 percentage points.
For several of the groups on this list — including registered Democrats, ideological moderates, and Black Americans — Trump’s economic policies have never been especially popular. Still, some of the largest declines in Trump’s economic approval ratings have been reported among groups that constitute his base, including ideological conservatives, registered Republicans, Christians, and, most directly, Americans who voted for Trump in 2024. (Here is a look at the Americans who are most likely to approve of the Trump administration so far.)
These are the Americans who are souring on Trump’s economy.
Editor’s note: This post was updated on July 11, 2025, using new polling data from Morning Consult.
Why It Matters
In his first few months in office, President Donald Trump imposed across-the-board tariffs on all of America’s trading partners — a move that may present the biggest disruption to global trade in at least a century. Trump’s tariffs have fueled a surge in economic uncertainty in the United States — and uncertainty, rarely favorable for business leaders and investors, is an enemy of growth. As recession risk has climbed substantially this year, popular support for Trump’s economic policies is eroding — even among some demographic groups that constitute the president’s political base.
36. GenXers, born between 1965-1980
- Change in approval rating of Trump’s economic policies during presidency: -5.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: +3.1 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 48.7% (45.6% one week ago; 53.6% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 45.4% (48.2% one week ago; 36.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: +3.2% (-2.6% one week ago; +17.5% in early February)
35. Americans in the 45-64 age group
- Change in approval rating of Trump’s economic policies during presidency: -5.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: +1.7 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 47.4% (45.7% one week ago; 52.7% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 46.7% (48.2% one week ago; 36.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: +0.7% (-2.5% one week ago; +16.5% in early February)
34. Residents of suburban communities
- Change in approval rating of Trump’s economic policies during presidency: -5.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: -1.7 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 43.6% (45.3% one week ago; 48.9% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 49.7% (49.6% one week ago; 39.3% in early February)
- Net-approval of Trump’s economic policies among demographic group: -6.1% (-4.3% one week ago; +9.6% in early February)
33. Americans living in the West
- Change in approval rating of Trump’s economic policies during presidency: -5.6 percentage points
- 1-week change in approval rating of Trump’s economic policies: -3.8 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 37.6% (41.4% one week ago; 43.2% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 53.9% (53.7% one week ago; 45.6% in early February)
- Net-approval of Trump’s economic policies among demographic group: -16.3% (-12.3% one week ago; -2.5% in early February)
32. Registered Independents
- Change in approval rating of Trump’s economic policies during presidency: -5.9 percentage points
- 1-week change in approval rating of Trump’s economic policies: -0.9 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 32.2% (33.1% one week ago; 38.1% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 55.0% (57.0% one week ago; 44.7% in early February)
- Net-approval of Trump’s economic policies among demographic group: -22.7% (-23.9% one week ago; -6.6% in early February)
31. Adults with a post-graduate degree
- Change in approval rating of Trump’s economic policies during presidency: -6.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: -9.0 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 47.8% (56.8% one week ago; 53.8% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 49.9% (40.8% one week ago; 38.6% in early February)
- Net-approval of Trump’s economic policies among demographic group: -2.2% (+16.0% one week ago; +15.2% in early February)
30. Evangelical Christians
- Change in approval rating of Trump’s economic policies during presidency: -6.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: -2.8 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 61.0% (63.9% one week ago; 67.1% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 30.3% (31.9% one week ago; 24.7% in early February)
- Net-approval of Trump’s economic policies among demographic group: +30.7% (+32.0% one week ago; +42.3% in early February)
29. Non-evangelical Christians
- Change in approval rating of Trump’s economic policies during presidency: -6.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: -1.5 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 46.0% (47.5% one week ago; 52.1% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 49.3% (48.6% one week ago; 37.8% in early February)
- Net-approval of Trump’s economic policies among demographic group: -3.4% (-1.2% one week ago; +14.3% in early February)
28. Democratic women
- Change in approval rating of Trump’s economic policies during presidency: -6.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: -2.8 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 11.8% (14.6% one week ago; 18.0% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 79.7% (78.6% one week ago; 68.9% in early February)
- Net-approval of Trump’s economic policies among demographic group: -67.9% (-64.0% one week ago; -50.9% in early February)
27. All registered voters
- Change in approval rating of Trump’s economic policies during presidency: -6.4 percentage points
- 1-week change in approval rating of Trump’s economic policies: -1.9 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 44.7% (46.6% one week ago; 51.2% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 48.0% (47.4% one week ago; 38.3% in early February)
- Net-approval of Trump’s economic policies among demographic group: -3.2% (-0.8% one week ago; +12.8% in early February)
26. Residents of rural communities
- Change in approval rating of Trump’s economic policies during presidency: -6.5 percentage points
- 1-week change in approval rating of Trump’s economic policies: -0.1 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 51.7% (51.8% one week ago; 58.2% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 40.2% (41.4% one week ago; 33.5% in early February)
- Net-approval of Trump’s economic policies among demographic group: +11.5% (+10.3% one week ago; +24.7% in early February)
25. Workers earning over $100,000 per year
- Change in approval rating of Trump’s economic policies during presidency: -6.8 percentage points
- 1-week change in approval rating of Trump’s economic policies: -3.1 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 49.6% (52.8% one week ago; 56.4% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 45.7% (44.9% one week ago; 35.9% in early February)
- Net-approval of Trump’s economic policies among demographic group: +3.9% (+7.9% one week ago; +20.5% in early February)
24. Christians
- Change in approval rating of Trump’s economic policies during presidency: -7.1 percentage points
- 1-week change in approval rating of Trump’s economic policies: -1.1 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 52.9% (54.0% one week ago; 60.0% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 42.6% (42.6% one week ago; 31.5% in early February)
- Net-approval of Trump’s economic policies among demographic group: +10.3% (+11.4% one week ago; +28.5% in early February)
23. Non-Christians
- Change in approval rating of Trump’s economic policies during presidency: -7.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: -9.2 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 43.8% (53.0% one week ago; 51.0% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 49.8% (46.2% one week ago; 42.2% in early February)
- Net-approval of Trump’s economic policies among demographic group: -6.0% (+6.9% one week ago; +8.9% in early February)
22. Ideological moderates
- Change in approval rating of Trump’s economic policies during presidency: -7.3 percentage points
- 1-week change in approval rating of Trump’s economic policies: +3.1 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 35.1% (32.0% one week ago; 42.4% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 56.9% (58.5% one week ago; 42.4% in early February)
- Net-approval of Trump’s economic policies among demographic group: -21.8% (-26.5% one week ago; +0.1% in early February)
21. Private sector workers
- Change in approval rating of Trump’s economic policies during presidency: -7.5 percentage points
- 1-week change in approval rating of Trump’s economic policies: -3.9 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 46.0% (49.9% one week ago; 53.5% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 49.3% (44.7% one week ago; 36.9% in early February)
- Net-approval of Trump’s economic policies among demographic group: -3.4% (+5.2% one week ago; +16.6% in early February)
20. Black Americans
- Change in approval rating of Trump’s economic policies during presidency: -8.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: +0.2 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 32.6% (32.4% one week ago; 40.5% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 59.0% (59.1% one week ago; 44.0% in early February)
- Net-approval of Trump’s economic policies among demographic group: -26.5% (-26.7% one week ago; -3.4% in early February)
19. Residents of urban communities
- Change in approval rating of Trump’s economic policies during presidency: -8.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: -4.0 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 40.5% (44.5% one week ago; 48.7% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 51.8% (48.5% one week ago; 41.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: -11.3% (-4.0% one week ago; +7.6% in early February)
18. Adults without a college education
- Change in approval rating of Trump’s economic policies during presidency: -8.3 percentage points
- 1-week change in approval rating of Trump’s economic policies: -1.7 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 45.0% (46.7% one week ago; 53.3% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 45.4% (45.8% one week ago; 35.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: -0.4% (+0.8% one week ago; +18.2% in early February)
17. Registered Republicans
- Change in approval rating of Trump’s economic policies during presidency: -8.5 percentage points
- 1-week change in approval rating of Trump’s economic policies: -3.8 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 78.8% (82.5% one week ago; 87.3% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 16.0% (13.0% one week ago; 6.7% in early February)
- Net-approval of Trump’s economic policies among demographic group: +62.8% (+69.5% one week ago; +80.6% in early February)
16. Americans living in the South
- Change in approval rating of Trump’s economic policies during presidency: -8.7 percentage points
- 1-week change in approval rating of Trump’s economic policies: -0.8 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 49.7% (50.5% one week ago; 58.3% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 43.1% (42.3% one week ago; 32.7% in early February)
- Net-approval of Trump’s economic policies among demographic group: +6.6% (+8.2% one week ago; +25.6% in early February)
15. Americans who voted for Donald Trump in 2024
- Change in approval rating of Trump’s economic policies during presidency: -8.7 percentage points
- 1-week change in approval rating of Trump’s economic policies: -1.2 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 80.3% (81.6% one week ago; 89.0% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 14.6% (13.3% one week ago; 5.2% in early February)
- Net-approval of Trump’s economic policies among demographic group: +65.8% (+68.3% one week ago; +83.8% in early February)
14. Workers earning less than $50,000 per year
- Change in approval rating of Trump’s economic policies during presidency: -9.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: -4.9 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 39.6% (44.5% one week ago; 48.6% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 49.4% (46.1% one week ago; 38.7% in early February)
- Net-approval of Trump’s economic policies among demographic group: -9.8% (-1.6% one week ago; +9.9% in early February)
13. Women
- Change in approval rating of Trump’s economic policies during presidency: -9.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: -4.4 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 37.7% (42.2% one week ago; 46.8% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 52.3% (50.1% one week ago; 40.0% in early February)
- Net-approval of Trump’s economic policies among demographic group: -14.6% (-8.0% one week ago; +6.8% in early February)
12. Millennials, born between 1981-1996
- Change in approval rating of Trump’s economic policies during presidency: -9.5 percentage points
- 1-week change in approval rating of Trump’s economic policies: -5.6 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 46.2% (51.9% one week ago; 55.7% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 45.0% (39.7% one week ago; 35.0% in early February)
- Net-approval of Trump’s economic policies among demographic group: +1.2% (+12.1% one week ago; +20.7% in early February)
11. Hispanic Americans
- Change in approval rating of Trump’s economic policies during presidency: -9.6 percentage points
- 1-week change in approval rating of Trump’s economic policies: -6.5 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 38.8% (45.3% one week ago; 48.4% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 53.1% (49.7% one week ago; 39.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: -14.3% (-4.4% one week ago; +9.3% in early February)
10. Ideological conservatives
- Change in approval rating of Trump’s economic policies during presidency: -9.8 percentage points
- 1-week change in approval rating of Trump’s economic policies: -4.5 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 77.1% (81.6% one week ago; 86.8% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 18.5% (16.1% one week ago; 7.8% in early February)
- Net-approval of Trump’s economic policies among demographic group: +58.5% (+65.5% one week ago; +79.1% in early February)
9. Americans living in the Midwest
- Change in approval rating of Trump’s economic policies during presidency: -9.9 percentage points
- 1-week change in approval rating of Trump’s economic policies: -4.9 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 40.8% (45.7% one week ago; 50.7% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 51.9% (49.6% one week ago; 38.5% in early February)
- Net-approval of Trump’s economic policies among demographic group: -11.2% (-3.9% one week ago; +12.1% in early February)
8. Americans in the 18-34 age group
- Change in approval rating of Trump’s economic policies during presidency: -10.1 percentage points
- 1-week change in approval rating of Trump’s economic policies: -6.5 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 40.4% (46.9% one week ago; 50.5% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 47.7% (43.9% one week ago; 36.3% in early February)
- Net-approval of Trump’s economic policies among demographic group: -7.3% (+3.0% one week ago; +14.2% in early February)
7. Americans in the 35-44 age group
- Change in approval rating of Trump’s economic policies during presidency: -11.0 percentage points
- 1-week change in approval rating of Trump’s economic policies: -9.2 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 44.5% (53.7% one week ago; 55.4% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 45.3% (39.8% one week ago; 36.5% in early February)
- Net-approval of Trump’s economic policies among demographic group: -0.8% (+13.9% one week ago; +18.9% in early February)
6. Independent women
- Change in approval rating of Trump’s economic policies during presidency: -11.3 percentage points
- 1-week change in approval rating of Trump’s economic policies: -2.6 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 25.9% (28.4% one week ago; 37.2% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 57.6% (58.2% one week ago; 43.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: -31.7% (-29.8% one week ago; -5.9% in early February)
5. Unemployed Americans
- Change in approval rating of Trump’s economic policies during presidency: -12.3 percentage points
- 1-week change in approval rating of Trump’s economic policies: -7.0 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 30.9% (37.9% one week ago; 43.2% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 50.9% (50.1% one week ago; 45.0% in early February)
- Net-approval of Trump’s economic policies among demographic group: -20.0% (-12.2% one week ago; -1.8% in early February)
4. GenZers, born between 1997-2012
- Change in approval rating of Trump’s economic policies during presidency: -12.8 percentage points
- 1-week change in approval rating of Trump’s economic policies: -12.1 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 33.4% (45.5% one week ago; 46.2% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 50.3% (46.7% one week ago; 39.1% in early February)
- Net-approval of Trump’s economic policies among demographic group: -16.9% (-1.2% one week ago; +7.0% in early February)
3. Republican women
- Change in approval rating of Trump’s economic policies during presidency: -12.9 percentage points
- 1-week change in approval rating of Trump’s economic policies: -8.7 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 72.7% (81.4% one week ago; 85.6% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 20.4% (13.2% one week ago; 5.0% in early February)
- Net-approval of Trump’s economic policies among demographic group: +52.3% (+68.2% one week ago; +80.6% in early February)
2. Americans who did not vote in 2024
- Change in approval rating of Trump’s economic policies during presidency: -19.2 percentage points
- 1-week change in approval rating of Trump’s economic policies: -8.0 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 26.5% (34.5% one week ago; 45.8% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 46.9% (44.7% one week ago; 24.8% in early February)
- Net-approval of Trump’s economic policies among demographic group: -20.4% (-10.2% one week ago; +20.9% in early February)
1. Homemakers
- Change in approval rating of Trump’s economic policies during presidency: -22.4 percentage points
- 1-week change in approval rating of Trump’s economic policies: +2.3 percentage points
- Share of demographic group who currently approve of Trump’s handling of the economy: 35.4% (33.1% one week ago; 57.8% in early February)
- Share of demographic group who currently disapprove of Trump’s handling of the economy: 48.4% (54.7% one week ago; 28.3% in early February)
- Net-approval of Trump’s economic policies among demographic group: -13.0% (-21.6% one week ago; +29.4% in early February)
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