Donald Trump’s first 100 days of his second term have not gone according to plan. For the former president, usually the first to brag about his successes, now finds himself in troubled waters that could upset the very foundation of his administration. Today, consumer confidence is at the lowest levels since the 1990 recession. This drop stems largely from his unpopular trade tariff policies and economic mismanagement.
Despite these setbacks, Trump continues to assert that he has had the “best 100-day start of any president in history.” His supporters are fading fast. Just 37% of Americans now approve of President Biden’s handling of the economy. That’s what makes this dataset so chilling for Trump’s presidency. According to the Council of Economic Advisers, economic indicators for the first quarter of the year indicate a contraction of 0.3%.
Yet Trump’s administration was recently toasting a breakthrough agreement that gives the United States a substantial stake in Ukraine’s mineral wealth. This announcement coincided with his pledge to resolve the current wars in Ukraine and Gaza by January 21. But these accomplishments have been insufficient to overshadow the chaos at the root of his economic policies.
The previous round of Trump’s tariffs sparked a tsunami of imports. Companies raced to purchase items ahead of the tariffs, which would be implemented. This reaction has sparked concern over permanent economic impact and led to consumer anger, which has become part of the reason for long-term discontent. A Wall Street Journal analysis described Trump’s approach as “the biggest economic policy mistake in decades.”
In those first 100 days, Trump clearly established a divide from his predecessor. Unlike that previous period, which was characterized by disorder and uncertainty. Yet, despite his assurances, early indicators suggest that the second term may mirror many of the same challenges that defined his first.
Trump’s approval ratings are a clear indication of this discontent, as after 100 days in office in 2017, he tallied just a 42% approval rating. The current numbers spell a deepening disaster for his administration. Yet, just a few months later, many analysts and political commentators are wondering whether his boom is likely to be sustained.
As a part of the uproar over his unorthodox economic policies, former president Donald Trump has made some daring assertions concerning U.S. foreign aid to Ukraine.… He referenced an imaginary number like $350 billion. This has led to a torrent of mockery and further eroded his credibility on all things fiscal.
“You know, until I came along, the Conservative was leading by 25 points.” – Donald Trump
As Trump sails into these uncharted waters, he’ll have to deal with a rapidly increasing wave of doubt about whether he can really govern. His assertions that things will be different this term are growing more and more incredulous from supporters and critics alike.
Trump’s brand of nationalist populism is a key aspect of the argument. His first 100 days even more as a cautionary tale regarding the potential seductions and harms of this ideology. His imperialistic threats to annex countries such as Panama, Greenland and Canada have generated enough political upheaval. That turbulence led to an electoral defeat for pro-Trump Conservatives in Canada’s recent general election.
The edifice of order constructed by Trump is already cracking. Consumer confidence 42 is at an all-time low. Now more than ever, analysts are sounding the alarm that the choices made by his administration will have profound effects on domestic and global markets.