Donald Trump was elected to office on a platform centered in part on protectionist taxes of imported goods. Still, when the full suite of tariffs were unveiled from the White House Rose Garden on Wednesday, April 2, 2025 — so-called “Liberation Day” — global markets reacted with shock. In the days that followed, Wall Street witnessed the largest sell off in years as the S&P 500 index shed nearly 11% of its value by the closing bell on Friday.

24/7 Wall St. Key Points:

• President Trump’s economic policies, from tax cuts to federal budget reductions, have not been without some controversy — but Trump’s recent implementation of across the board tariffs have fueled uncertainty and roiled markets like nothing else. 
• The administration’s protectionist tariffs cut against widely accepted economic principles, and, according to recent survey data, are unpopular with a majority of American voters. 
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Proponents of President Trump’s sweeping tariffs assert that these policies are necessary to bring back American manufacturing, reduce the national debt, and level the playing field of international trade. While the extent to which some of these conditions are real problems in need of a remedy is a matter of debate — but either way, it may be years before there is any clarity as to whether or not the administration’s prescription for them was the correct one. (Here is a look at the biggest geopolitical conflicts Trump will have to confront.)

Right or wrong, the Trump tariffs have fueled a surge in global economic uncertainty — and uncertainty, rarely favorable for business leaders and investors, is an enemy of growth. Partially as a result, expert economists have come out, almost universally, in staunch opposition to Trump’s tariff policies — and recent polling data suggests that many subsets of American voters are also unhappy.

Using survey data from public opinion research company Morning Consult, 24/7 Wall St. identified the Americans who are most likely to disapprove of Trump’s handling of the economy so far. 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 on the net approval rating of Trump’s handling the economy, or the share of voters who approve of his policies less those who disapprove. All survey data was collected after the tariff announcements, between April 4 and April 6, 2025.

Only demographic groups with which Trump has a negative net-approval rating for his handling of the economy were included on this list. Among these 36 subsets of Americans — which notably includes all registered voters — net-approval of Trump’s economic policies range from -3.1% to -69.6%. (Here is a look at why consumer confidence is cratering.)

Perhaps not surprisingly, the strongest predictors of public opinion towards the president’s economic policies are political. The highest ranking demographic groups on this list include registered Democrats, Americans who voted for Kamala Harris in the 2024 election, and Americans who identify as ideologically liberal. While distinct, these groups have overlapping membership.

Other groups that rank on this list include those who are more likely to have been meaningfully impacted by the recent stock market sell off. Among retirees, many of whom supplement retirement income through investments, Trump has a negative 3.5% net economic approval rating. Trump’s economic policies are also nearly 7 percentage points underwater among Baby Boomers — those born between the end of World War II and the mid-1960s — and over 9 percentage points underwater among Americans age 65 and up. Trump’s economic policies are also generally unpopular among middle class and low-income households.

Why It Matters

Within his first three 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. The administration’s policies have fueled a surge in economic uncertainty and triggered mass sell off in domestic and global markets. While many Americans remain faithful that these policies will ultimately benefit the United States, recent survey data suggests that most Americans are less optimistic.

36. All registered voters

• Net-approval rating of Trump’s economic policies among demographic group: -3.1%
• Share of demographic group who approve of Trump’s handling of the economy: 44.9% (27.6% strongly approve; 17.4% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 48.1% (43.2% strongly disapprove; 8.9% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.0%
• Trump’s overall, net-approval rating among demographic group: -6.3% (45.7% approve, 52.1% disapprove, 2.2% have no opinion)

35. Residents of urban communities

• Net-approval rating of Trump’s economic policies among demographic group: -3.3%
• Share of demographic group who approve of Trump’s handling of the economy: 44.1% (25.8% strongly approve; 18.3% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 47.5% (45.5% strongly disapprove; 9.1% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 8.4%
• Trump’s overall, net-approval rating among demographic group: -11.9% (42.7% approve, 54.6% disapprove, 2.7% have no opinion)

34. Retirees

• Net-approval rating of Trump’s economic policies among demographic group: -3.5%
• Share of demographic group who approve of Trump’s handling of the economy: 46.5% (30.2% strongly approve; 16.3% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 50.0% (47.1% strongly disapprove; 5.1% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 3.5%
• Trump’s overall, net-approval rating among demographic group: -6.1% (46.1% approve, 52.2% disapprove, 1.7% have no opinion)

33. Adults with a post-graduate degree

• Net-approval rating of Trump’s economic policies among demographic group: -3.8%
• Share of demographic group who approve of Trump’s handling of the economy: 44.7% (27.3% strongly approve; 17.3% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 48.5% (48.3% strongly disapprove; 5.9% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 6.8%
• Trump’s overall, net-approval rating among demographic group: -9.6% (44.6% approve, 54.2% disapprove, 1.2% have no opinion)

32. Non-evangelical Christians

• Net-approval rating of Trump’s economic policies among demographic group: -4.3%
• Share of demographic group who approve of Trump’s handling of the economy: 45.0% (25.7% strongly approve; 19.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 49.2% (44.3% strongly disapprove; 9.5% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.8%
• Trump’s overall, net-approval rating among demographic group: -9.0% (44.8% approve, 53.8% disapprove, 1.3% have no opinion)

31. Americans living in the West

• Net-approval rating of Trump’s economic policies among demographic group: -4.6%
• Share of demographic group who approve of Trump’s handling of the economy: 44.4% (27.7% strongly approve; 16.7% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 49.1% (47.3% strongly disapprove; 5.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 6.5%
• Trump’s overall, net-approval rating among demographic group: -7.8% (45.2% approve, 53.0% disapprove, 1.9% have no opinion)

30. Workers earning less than $50,000 per year

• Net-approval rating of Trump’s economic policies among demographic group: -4.7%
• Share of demographic group who approve of Trump’s handling of the economy: 43.2% (26.9% strongly approve; 16.3% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 47.9% (44.3% strongly disapprove; 8.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 8.8%
• Trump’s overall, net-approval rating among demographic group: -9.0% (44.0% approve, 53.0% disapprove, 3.0% have no opinion)

29. Baby Boomers, born between 1946-1964

• Net-approval rating of Trump’s economic policies among demographic group: -6.8%
• Share of demographic group who approve of Trump’s handling of the economy: 44.8% (27.8% strongly approve; 17.1% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 51.7% (46.9% strongly disapprove; 5.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 3.5%
• Trump’s overall, net-approval rating among demographic group: -6.9% (45.7% approve, 52.6% disapprove, 1.7% have no opinion)

28. Workers earning between $50,000 and $100,000 per year

• Net-approval rating of Trump’s economic policies among demographic group: -6.9%
• Share of demographic group who approve of Trump’s handling of the economy: 43.9% (27.0% strongly approve; 16.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 50.7% (44.3% strongly disapprove; 9.9% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.4%
• Trump’s overall, net-approval rating among demographic group: -10.1% (44.0% approve, 54.2% disapprove, 1.8% have no opinion)

27. Americans living in the Northeast

• Net-approval rating of Trump’s economic policies among demographic group: -7.6%
• Share of demographic group who approve of Trump’s handling of the economy: 43.0% (22.9% strongly approve; 20.1% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 50.6% (46.6% strongly disapprove; 8.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 6.4%
• Trump’s overall, net-approval rating among demographic group: -12.1% (43.3% approve, 55.3% disapprove, 1.4% have no opinion)

26. Americans living in the Midwest

• Net-approval rating of Trump’s economic policies among demographic group: -8.3%
• Share of demographic group who approve of Trump’s handling of the economy: 43.0% (27.0% strongly approve; 15.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 51.2% (44.6% strongly disapprove; 10.1% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.8%
• Trump’s overall, net-approval rating among demographic group: -11.0% (43.7% approve, 54.8% disapprove, 1.5% have no opinion)

25. Non-Christians

• Net-approval rating of Trump’s economic policies among demographic group: -8.6%
• Share of demographic group who approve of Trump’s handling of the economy: 43.5% (24.3% strongly approve; 19.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 52.1% (41.4% strongly disapprove; 11.2% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 4.4%
• Trump’s overall, net-approval rating among demographic group: -8.2% (44.4% approve, 52.6% disapprove, 3.0% have no opinion)

24. Hispanic Americans

• Net-approval rating of Trump’s economic policies among demographic group: -9.0%
• Share of demographic group who approve of Trump’s handling of the economy: 41.8% (23.9% strongly approve; 17.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 50.8% (51.1% strongly disapprove; 8.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.4%
• Trump’s overall, net-approval rating among demographic group: -21.1% (38.8% approve, 59.9% disapprove, 1.3% have no opinion)

23. Residents of suburban communities

• Net-approval rating of Trump’s economic policies among demographic group: -9.1%
• Share of demographic group who approve of Trump’s handling of the economy: 42.7% (27.2% strongly approve; 15.5% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 51.8% (44.3% strongly disapprove; 9.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.5%
• Trump’s overall, net-approval rating among demographic group: -9.9% (44.2% approve, 54.1% disapprove, 1.7% have no opinion)

22. Americans aged 65 and up

• Net-approval rating of Trump’s economic policies among demographic group: -9.3%
• Share of demographic group who approve of Trump’s handling of the economy: 43.7% (27.5% strongly approve; 16.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 53.0% (48.7% strongly disapprove; 5.3% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 3.3%
• Trump’s overall, net-approval rating among demographic group: -9.9% (44.1% approve, 54.0% disapprove, 1.9% have no opinion)

21. Americans who did not vote in 2024

• Net-approval rating of Trump’s economic policies among demographic group: -9.8%
• Share of demographic group who approve of Trump’s handling of the economy: 32.8% (15.1% strongly approve; 17.7% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 42.6% (42.0% strongly disapprove; 18.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 24.6%
• Trump’s overall, net-approval rating among demographic group: -32.3% (28.6% approve, 60.8% disapprove, 10.6% have no opinion)

20. Government workers

• Net-approval rating of Trump’s economic policies among demographic group: -10.1%
• Share of demographic group who approve of Trump’s handling of the economy: 40.1% (26.0% strongly approve; 14.0% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 50.2% (44.2% strongly disapprove; 11.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 9.8%
• Trump’s overall, net-approval rating among demographic group: -13.3% (42.7% approve, 56.0% disapprove, 1.2% have no opinion)

19. Americans in the 18-34 age group

• Net-approval rating of Trump’s economic policies among demographic group: -10.4%
• Share of demographic group who approve of Trump’s handling of the economy: 40.7% (24.6% strongly approve; 16.1% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 51.1% (42.3% strongly disapprove; 14.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 8.2%
• Trump’s overall, net-approval rating among demographic group: -16.5% (40.6% approve, 57.0% disapprove, 2.4% have no opinion)

18. Adults with a bachelor’s degree

• Net-approval rating of Trump’s economic policies among demographic group: -11.4%
• Share of demographic group who approve of Trump’s handling of the economy: 41.7% (23.8% strongly approve; 17.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 53.1% (46.5% strongly disapprove; 10.5% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.2%
• Trump’s overall, net-approval rating among demographic group: -15.3% (41.6% approve, 57.0% disapprove, 1.4% have no opinion)

17. Independent men

• Net-approval rating of Trump’s economic policies among demographic group: -12.4%
• Share of demographic group who approve of Trump’s handling of the economy: 40.5% (20.3% strongly approve; 20.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 52.9% (43.8% strongly disapprove; 12.6% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 6.6%
• Trump’s overall, net-approval rating among demographic group: -17.0% (39.4% approve, 56.4% disapprove, 4.3% have no opinion)

16. GenZers, born between 1997-2012

• Net-approval rating of Trump’s economic policies among demographic group: -12.4%
• Share of demographic group who approve of Trump’s handling of the economy: 39.4% (23.3% strongly approve; 16.1% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 51.8% (41.5% strongly disapprove; 18.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 8.9%
• Trump’s overall, net-approval rating among demographic group: -23.6% (36.6% approve, 60.2% disapprove, 3.2% have no opinion)

15. Women

• Net-approval rating of Trump’s economic policies among demographic group: -16.9%
• Share of demographic group who approve of Trump’s handling of the economy: 36.9% (22.8% strongly approve; 14.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 53.8% (49.0% strongly disapprove; 9.1% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 9.2%
• Trump’s overall, net-approval rating among demographic group: -18.8% (39.3% approve, 58.1% disapprove, 2.6% have no opinion)

14. Registered Independents

• Net-approval rating of Trump’s economic policies among demographic group: -17.5%
• Share of demographic group who approve of Trump’s handling of the economy: 36.0% (18.1% strongly approve; 17.9% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 53.5% (43.0% strongly disapprove; 14.8% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 10.6%
• Trump’s overall, net-approval rating among demographic group: -20.9% (36.9% approve, 57.8% disapprove, 5.3% have no opinion)

13. Homemakers

• Net-approval rating of Trump’s economic policies among demographic group: -17.8%
• Share of demographic group who approve of Trump’s handling of the economy: 36.5% (19.1% strongly approve; 17.4% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 54.3% (43.3% strongly disapprove; 10.7% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 9.2%
• Trump’s overall, net-approval rating among demographic group: -11.7% (42.3% approve, 54.0% disapprove, 3.7% have no opinion)

12. Black Americans

• Net-approval rating of Trump’s economic policies among demographic group: -18.3%
• Share of demographic group who approve of Trump’s handling of the economy: 33.9% (18.7% strongly approve; 15.1% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 52.1% (53.7% strongly disapprove; 13.4% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 14.0%
• Trump’s overall, net-approval rating among demographic group: -39.6% (27.5% approve, 67.1% disapprove, 5.5% have no opinion)

11. Students

• Net-approval rating of Trump’s economic policies among demographic group: -20.2%
• Share of demographic group who approve of Trump’s handling of the economy: 31.7% (22.6% strongly approve; 9.0% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 51.8% (56.7% strongly disapprove; 6.2% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 16.5%
• Trump’s overall, net-approval rating among demographic group: -31.1% (31.8% approve, 62.9% disapprove, 5.4% have no opinion)

10. Unemployed Americans

• Net-approval rating of Trump’s economic policies among demographic group: -20.7%
• Share of demographic group who approve of Trump’s handling of the economy: 32.6% (21.2% strongly approve; 11.4% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 53.3% (46.3% strongly disapprove; 12.4% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 14.1%
• Trump’s overall, net-approval rating among demographic group: -22.6% (36.0% approve, 58.6% disapprove, 5.4% have no opinion)

9. Ideological moderates

• Net-approval rating of Trump’s economic policies among demographic group: -21.1%
• Share of demographic group who approve of Trump’s handling of the economy: 35.0% (19.7% strongly approve; 15.3% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 56.1% (46.5% strongly disapprove; 13.2% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 9.0%
• Trump’s overall, net-approval rating among demographic group: -22.8% (36.9% approve, 59.7% disapprove, 3.3% have no opinion)

8. Independent women

• Net-approval rating of Trump’s economic policies among demographic group: -22.2%
• Share of demographic group who approve of Trump’s handling of the economy: 31.8% (16.0% strongly approve; 15.8% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 53.9% (42.2% strongly disapprove; 16.9% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 14.3%
• Trump’s overall, net-approval rating among demographic group: -24.4% (34.7% approve, 59.1% disapprove, 6.2% have no opinion)

7. Religious agnostics

• Net-approval rating of Trump’s economic policies among demographic group: -33.6%
• Share of demographic group who approve of Trump’s handling of the economy: 28.5% (15.9% strongly approve; 12.6% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 62.1% (59.0% strongly disapprove; 6.1% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 9.4%
• Trump’s overall, net-approval rating among demographic group: -32.7% (32.4% approve, 65.0% disapprove, 2.6% have no opinion)

6. Democratic men

• Net-approval rating of Trump’s economic policies among demographic group: -46.9%
• Share of demographic group who approve of Trump’s handling of the economy: 23.9% (11.4% strongly approve; 12.6% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 70.8% (74.7% strongly disapprove; 8.3% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.2%
• Trump’s overall, net-approval rating among demographic group: -67.5% (15.5% approve, 83.0% disapprove, 1.5% have no opinion)

5. Ideological liberals

• Net-approval rating of Trump’s economic policies among demographic group: -55.5%
• Share of demographic group who approve of Trump’s handling of the economy: 20.4% (10.2% strongly approve; 10.2% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 75.9% (77.3% strongly disapprove; 6.3% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 3.7%
• Trump’s overall, net-approval rating among demographic group: -67.6% (16.0% approve, 83.6% disapprove, 0.4% have no opinion)

4. Registered Democrats

• Net-approval rating of Trump’s economic policies among demographic group: -57.8%
• Share of demographic group who approve of Trump’s handling of the economy: 17.9% (8.4% strongly approve; 9.5% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 75.7% (78.8% strongly disapprove; 8.1% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 6.3%
• Trump’s overall, net-approval rating among demographic group: -75.7% (11.2% approve, 86.9% disapprove, 1.9% have no opinion)

3. Democratic women

• Net-approval rating of Trump’s economic policies among demographic group: -65.3%
• Share of demographic group who approve of Trump’s handling of the economy: 13.8% (6.4% strongly approve; 7.4% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 79.1% (81.5% strongly disapprove; 8.0% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 7.1%
• Trump’s overall, net-approval rating among demographic group: -81.3% (8.2% approve, 89.5% disapprove, 2.3% have no opinion)

2. Americans who voted for Kamala Harris in 2024

• Net-approval rating of Trump’s economic policies among demographic group: -69.2%
• Share of demographic group who approve of Trump’s handling of the economy: 12.6% (5.5% strongly approve; 7.1% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 81.8% (82.3% strongly disapprove; 9.2% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 5.6%
• Trump’s overall, net-approval rating among demographic group: -84.5% (7.0% approve, 91.5% disapprove, 1.5% have no opinion)

1. Atheists

• Net-approval rating of Trump’s economic policies among demographic group: -69.6%
• Share of demographic group who approve of Trump’s handling of the economy: 13.1% (6.4% strongly approve; 6.6% somewhat approve)
• Share of demographic group who disapprove of Trump’s handling of the economy: 82.7% (79.6% strongly disapprove; 3.0% somewhat disapprove)
• Share of demographic group with no opinion Trump’s economic policies: 4.2%
• Trump’s overall, net-approval rating among demographic group: -67.9% (14.7% approve, 82.6% disapprove, 2.6% have no opinion)

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