POLL: Most Americans Approve of Trump’s Handling of the Economy
CNBC All-America Economic Survey revealed 51% of Americans approve President Donald Trump’s handling of the economy. And this high record happened for the first time since the start of his term. Hence, this likely appears having a positive impact on his approval rating on overall job.
Trump’s economic approval increased from 6 points to 51% with a 36% public disapproving.
The president’s overall approval rating made a 2-point increase to 41% in the first quarter survey. However, the percentage of Americans disapproving went down from 10 points to 47%. This was the recorded lowest during this term.
The poll suggests that the recent controversy about the president’s decision to separate children from their parents at the border had a minimal effect into it. The survey occurred on June 16 to June 19 amid the said controversy.
“People have so locked into their partisan views that it’s really hard to move those approval numbers. The most consistent thing about his presidency is how much people who love him, love him and how much the people who hate him, hate him,” said Micah Roberts with Public Opinion Strategies, the Republican pollster for CNBC.
The survey showed a 51% majority of Americans who disapprove of Trump’s immigration policies. Immigration policies are the worst issue of Trump compared to other issues CNBC polled.
Trump’s increase economic approval comes with growth running about a percentage point higher compared during Obama presidency.
On one hand, the tax cuts for individuals and business and renegotiating trade deals are Trump’s biggest winners. His biggest losers, on the other hand, are policies on immigration, Obamacare cancellation, and reduction on bank regulations. Also, there was a strong 58% majority support on his North Korea negotiations. There was a 45% approve on Trump’s tariff imposition, while there was 38% disapproving.
“That result is pretty terrible for Republicans. Things are trending up for President Trump on the economy but it’s not necessarily translating into things trending up for Republicans,” Roberts said.
Energy companies fear trade war impact on the economy
Chevron and Exxon, two of the world’s leading energy companies, fear that the ongoing trade conflicts could weaken global economy.
Trump’s imposition of tariffs on steel, aluminum, and others sparked concern Chevron (CVX.N) and Exxon Mobil Corp (XOM.N). They believe that this could imperil relations with their largest customers including China and the European Union.
“The risk of trade wars starts to weigh on people’s perception of economic growth in the future. These things run the risk of becoming a bit of drag on growth,” Chevron Chief Executive Mike Wirth said at the World Gas Conference in Washington.
Meanwhile, Exxon CEO Darren Woods said that his company is keeping a try with “level-headed voice” on the tariffs.
“The world has been very well served with low tariffs and free trade. With tariffs, you run the risk of making some projects less attractive,” Woods said.
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