{"id":1052452,"date":"2025-04-09T10:51:32","date_gmt":"2025-04-09T14:51:32","guid":{"rendered":"https:\/\/democrats.org\/?p=1052452"},"modified":"2025-04-09T10:51:33","modified_gmt":"2025-04-09T14:51:33","slug":"the-opposite-of-what-americans-voted-for-americans-overwhelmingly-reject-trumps-chaotic-economic-agenda","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/the-opposite-of-what-americans-voted-for-americans-overwhelmingly-reject-trumps-chaotic-economic-agenda\/","title":{"rendered":"\u201cThe Opposite of What Americans Voted For\u201d: Americans Overwhelmingly Reject Trump\u2019s Chaotic Economic Agenda\u00a0"},"content":{"rendered":"\n
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Donald Trump is wrapping up his 78th day in office and his campaign lies about lowering costs on Day One could not be farther from the disastrous reality he is creating. As Trump plunges the country into \u201cfinancial chaos\u201d<\/a> (and takes off to play golf<\/a>), Americans are bracing for a \u201cTrump recession\u201d<\/a> that\u2019s poised to hit his own supporters the hardest.<\/a> <\/p>\n\n\n\n

Here\u2019s a look at economists\u2019 and consumers\u2019 growing concerns with Trump\u2019s expensive economic agenda:<\/em><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cJPMorgan Model Shows Recession Fear in Markets Spiking Up to 79%\u201d<\/strong><\/p>\n\n\n\n

\u201cEconomists have raised recession odds across the board. Some 92% of the forecasters who responded to a Bloomberg survey conducted April 2-3 said the imposition of sweeping levies raises the risk of a US economic downturn over the next 12 months.<\/strong><\/p>\n\n\n\n

\u201cJPMorgan\u2019s team of economists, led by Bruce Kasman, hiked the odds of a global recession to 60% last week. The bank\u2019s chief US economist, Michael Feroli, forecasts real GDP growth of -0.3%, down from 1.3% previously.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cUS stocks tumbled solidly into the red in the afternoon. The Dow fell 320 points, or 0.84%. The broader S&P 500 fell 1.57%. The tech-heavy Nasdaq Composite slid 2.15%. \u2026<\/strong><\/p>\n\n\n\n

\u201cOver the course of the past few days, stock prices got absolutely hammered as Wall Street grew fearful that Trump\u2019s tariff policy would plunge the US and global economies into a recession. \u2026<\/strong><\/p>\n\n\n\n

\u201c[JPMorgan Chase CEO Jamie Dimon] warned in his annual letter to shareholders Monday that Trump\u2019s tariffs would raise prices, slow the global economy and weaken America\u2019s standing in the world by tearing up its alliances. <\/strong>Even some of Trump\u2019s allies, including Elon Musk and Bill Ackman, have recently warned that tariffs are bad policy that rely on extremely flawed logic.\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201c\u2018The opposite of what Americans voted for\u2019: Market turmoil causes Trump backlash\u201d<\/strong><\/p>\n\n\n\n

\u201cThe economic turbulence unleashed by the White House\u2019s blanket tariffs is sending shudders through every level of the Republican Party. Alarmed officials worry the administration is driving the U.S. toward recession and dooming the GOP\u2019s midterm chances \u2014 yet they have no idea what will convince Trump to change course.<\/strong><\/p>\n\n\n\n

\u201cWall Street executives who cheered on Trump\u2019s election in hopes he would boost the economy are starting to fret, publicly urging the White House to rein in its trade war. Republican lawmakers watching the daily stock market volatility are bracing for the political fallout, as constituents\u2019 retirement funds dry up and employers slow their hiring.<\/strong><\/p>\n\n\n\n

\u201cAnd in some parts of Trump\u2019s orbit, there is growing fear that if the president refuses to abandon his tariff policies soon, a chunk of his voter base will abandon him.\u201d<\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cSome of the first leaders to speak out have been vocal Trump supporters.<\/strong> Ackman, the billionaire hedge-fund manager behind Pershing Square, called for a 90-day pause in the tariffs to negotiate with other countries, warning that the alternative was \u2018a self-induced, economic nuclear winter.\u2019 \u2026<\/strong><\/p>\n\n\n\n

\u201cRyan Cohen, the Trump-supporting CEO of the videogame retailer GameStop, posted on X last week that the tariffs \u2018are turning me into a dem.\u2019\u201d<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cFinancial markets around the world have plummeted in the days since President Trump announced sweeping tariffs, setting off a global trade war. <\/strong>The S&P 500 declined more than 10 percent in two days last week, and it swung wildly on Monday amid news of further tariffs and rumors of delays. Stock indexes in Asia and Europe have fallen sharply as well. \u2026<\/p>\n\n\n\n

\u201cInvestors overwhelmingly believe that Mr. Trump\u2019s tariffs, and retaliation from U.S. trading partners, will lead to higher prices, slower growth and possibly a global recession. \u2026<\/strong><\/p>\n\n\n\n

\u201cThe direct effects of tariffs will fall hardest on low- and moderate-income consumers, who tend to spend more of their money on food, clothing and other goods subject to duties, and who have less savings to insulate them from higher prices. \u2026<\/strong><\/p>\n\n\n\n

\u201cShares of technology companies, automakers and other companies with global supply chains have suffered some of the biggest declines. <\/strong>But the losses haven\u2019t been limited to companies most directly affected by tariffs. Shares of airlines, hotel operators and other companies that offer services to consumers with disposable incomes have also fallen.\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cAmerican Whiskey Braces for Another Trump Trade War\u201d<\/strong><\/p>\n\n\n\n

\u201cIndustries across the United States are bracing for higher prices for the imports that they need to make their products, as well as new restrictions on their exports as countries around the world prepare to retaliate against Mr. Trump\u2019s tariffs. America\u2019s whiskey industry has become a favorite target of such retaliation, and the blowback is going to be especially painful for distillers and the companies that supply them, from farmers to barrel makers. \u2026<\/strong><\/p>\n\n\n\n

\u201c[Trump\u2019s] blunt strategy is putting the economic squeeze on other American industries, hitting many of the workers who supported him in red states and helped propel him back to the presidency.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump is wrapping up his 78th day in office and his campaign lies about lowering costs on Day One could not be farther from the disastrous reality he is creating. As Trump plunges the country into \u201cfinancial chaos\u201d (and takes off to play golf), Americans are bracing for a \u201cTrump recession\u201d that\u2019s poised to […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1052452","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\n\u201cThe Opposite of What Americans Voted For\u201d: Americans Overwhelmingly Reject Trump\u2019s Chaotic Economic Agenda\u00a0 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/the-opposite-of-what-americans-voted-for-americans-overwhelmingly-reject-trumps-chaotic-economic-agenda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-09T14:51:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-09T14:51:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/the-opposite-of-what-americans-voted-for-americans-overwhelmingly-reject-trumps-chaotic-economic-agenda\/\",\"url\":\"https:\/\/democrats.org\/news\/the-opposite-of-what-americans-voted-for-americans-overwhelmingly-reject-trumps-chaotic-economic-agenda\/\",\"name\":\"\u201cThe Opposite of What Americans Voted For\u201d: Americans Overwhelmingly Reject Trump\u2019s Chaotic Economic Agenda\u00a0 - 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