Story perspectives

Trump Faces Economic Backlash as Disapproval Soars

9/20/2025

Summary

Trump's Economic Struggles

59% of Americans disapprove of Trump's economic performance, with 64% against his trade tariffs.
A Fox News poll reveals 52% believe Trump has worsened the economy since returning to power, amid inflation and stagnant job growth.
Democrats are encouraged to recognize "Bidenomics" failures and oppose Trump's tariffs, viewed as detrimental to growth.
Treasury Secretary Bessent and Commerce Secretary Lutnick anticipate economic improvement later this year, despite skepticism.
Trump pressures the Federal Reserve for lower interest rates, raising concerns about the central bank's independence.

Summary

Willis Blames Tariffs

New Zealand's Finance Minister Nicola Willis attributes a 0.9% economic decline to US President Trump's tariffs, which she says hindered recovery.
The economy contracted 0.6% over the year, with real GDP per capita falling 1.1% in the June quarter.
Critics claim Prime Minister Luxon's government has not enacted effective fiscal policies, resulting in rising national debt.
All major sectors, including agriculture and manufacturing, are experiencing downturns despite claims of a "two-speed recovery."
Investor confidence is waning, as local investors like Graeme Hart scale back their New Zealand operations.

History

Historical Context

The Smoot-Hawley Tariff Act of 1930 raised U.S. tariffs significantly, leading to a 30% drop in international trade and worsening the Great Depression. Similarly, President Trump's tariffs have faced criticism for hindering economic recovery, with New Zealand's Finance Minister noting a 0.9% decline attributed to these policies. Historical patterns suggest that protectionist measures may continue to impede growth and investor confidence.

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Trump's Economic Struggles

59% of Americans disapprove of Trump's economic performance, with 64% against his trade tariffs.
A Fox News poll reveals 52% believe Trump has worsened the economy since returning to power, amid inflation and stagnant job growth.
Democrats are encouraged to recognize "Bidenomics" failures and oppose Trump's tariffs, viewed as detrimental to growth.
Treasury Secretary Bessent and Commerce Secretary Lutnick anticipate economic improvement later this year, despite skepticism.
Trump pressures the Federal Reserve for lower interest rates, raising concerns about the central bank's independence.

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