President Donald Trump is facing the lowest economic approval ratings of his presidency, according to the latest CNBC All-America Economic Survey, as discontent grows over his administration’s handling of inflation, tariffs, and federal spending.

The downturn in sentiment is not just among Democrats but also showing cracks within his independent support base and even some corners of the Republican bloc.

The poll, conducted from April 9 to 13 with a sample size of 1,000 American adults and a margin of error of ±3.1%, found that 55% of respondents disapprove of Trump’s economic performance, while just 43% approve — the first time he has received a net negative economic rating during his presidency.

This erosion of support marks a reversal from the boost in economic optimism that accompanied his reelection. The public outlook has since shifted markedly toward pessimism. Nearly half (49%) now believe the economy will worsen in the coming year, the most negative reading since 2023. Only 38% say it’s a good time to invest, compared to 53% who believe it is not — a significant reversal from the optimism seen following Trump’s reelection victory.

Even more concerning for the administration, the economic outlook among independents, a key demographic in Trump’s reelection bid, has soured. Their approval of his economic handling has dropped 23 points compared to the average during his first term. Democrats, meanwhile, remain overwhelmingly disapproving, with a net negative margin of 90 points, significantly worse than during Trump’s previous tenure.

Trump’s blue-collar support, once one of his strongest economic constituencies, has also seen erosion. While still showing majority approval, disapproval among this group has increased by 14 points. It underscores growing discomfort even among voters who largely backed his trade and manufacturing policies.

Tariffs and Inflation Fuel Discontent

One of the primary drivers of the downturn in sentiment is Trump’s renewed tariff strategy. Americans disapprove of across-the-board tariffs by a 49% to 35% margin. Majorities believe tariffs are harmful to American workers, inflation, and the broader economy. This is particularly significant because tariffs have become a hallmark of Trump’s economic vision.

Among Republicans, support for tariffs remains, but even here the gap is narrowing. While Republicans still approve by a 59-point margin, that number is 20 points lower than their 79% net approval of Trump himself — showing tariffs are less popular than the president within his own party.

Democrats reject the tariffs by a resounding 83-point margin, and independents disapprove by 26 points, reinforcing that the policy is struggling to win broader appeal.

This unease is reflected in the broader assessment of Trump’s inflation performance. Just 37% of respondents approve of how he’s handling inflation, while 60% disapprove — the worst among all the issues polled. Even among Republicans, his strongest supporters, approval of inflation has dipped to 58%, the lowest net positive among the surveyed topics.

Additionally, 57% of respondents believe the U.S. is either already in or about to enter a recession, up from just 40% last March. A small but notable 12% believe the country is already in a recession.

Spending, Markets, and Partisan Divides

Federal government spending is another point of contention. A narrow majority — 51% — disapprove of Trump’s handling of public expenditure, compared to 45% who approve. This aligns with growing anxiety about rising deficits under his administration, despite his promises to rein in government waste.

On foreign policy, Trump also suffers a net negative: 42% approve versus 53% disapprove, with much of the disapproval tied to concerns over international economic relations.

“Donald Trump was reelected specifically to improve the economy, and so far, people are not liking what they’re seeing,” said Jay Campbell of Hart Associates, the Democratic partner on the CNBC survey.

Micah Roberts, the Republican pollster for the survey, agreed that the issue is not just economic data but public perception.

“We’re in a turbulent, kind of maelstrom of change when it comes to how people feel about what’s going to happen next. The data suggest more than ever that it’s the negative partisan reaction that’s driving and sustaining discontent,” he said.

Interestingly, while Americans overwhelmingly see countries like Canada, Mexico, Japan, and the EU as economic partners rather than threats — and view them more favorably than they did during Trump’s first term — the exception remains China. The country is still seen as an economic threat by a 44% to 35% margin, worse than in 2019.

The Bright Spot of Immigration

If there’s one area where Trump finds some solace, it’s immigration. His handling of the Southern border enjoys a 53% to 41% approval margin, while deportation policies are backed by 52% of Americans. Notably, he garners 22% support from Democrats on border policy — his highest cross-party approval.

He also edges out a slim majority among independents on the issue of deportations, which could help him maintain support in swing states where immigration remains a hot-button topic.

Despite Trump’s dip in economic approval, Democrats have yet to capitalize significantly. On the congressional ballot, the public remains nearly evenly split: 48% prefer Democratic control, while 46% favor Republicans. These figures are virtually unchanged from the March 2022 survey, showing that while the president may be losing ground, it is not automatically translating into Democratic gains.

The Enugu State Government has announced an ambitious plan to develop a 135.5-kilometer state-owned standard gauge rail line designed to connect Enugu with key South-East cities and link them directly to the Onne Port in Rivers State.

The project, if realized, could significantly reposition the state as a logistics hub, offering an alternative export corridor to Lagos.

The State Commissioner for Transportation, Dr. Obi Ozor, who disclosed the plan on Afia TV’s Enugu Kwenu program on Friday, said the rail network would be a strategic move toward regional integration, economic acceleration, and export-led growth.

Dr. Ozor confirmed that a full feasibility study for the Enugu rail network and the South-East corridor has already been completed. The state is currently engaging with Chinese companies and the Nigerian Railway Corporation on the technical aspects while holding financing talks with potential investors.

Details of the Route

The 135.5km standard gauge line will start from Enugu and move through Ugwuoba into Anambra State, connecting cities such as Awka and Onitsha. From there, it will run through the Amechi Idodo axis of Ebonyi State, link Umuahia in Abia and Owerri in Imo State via Nkanu West and Isiagu, before terminating at the Onne Port in Rivers State.

“As part of turning Enugu State into a hub, rail is a critical part of that to enable the movement of agro commodities from wherever their sources are to the port for export and earning of foreign exchange. We have a lot of wealth locked underneath our soil, such as coal. We need to exploit them to be able to generate a lot of revenue, and rail is critical to it,” Dr. Ozor said.

The commissioner stressed that the rail line will support both cargo and passenger services, not only decongesting traffic from Nigeria’s overwhelmed Lagos ports but also boosting trade across the South-East and South-South.

Part of a Bigger Transport Agenda

The rail plan is one piece of a larger transport framework that includes the development of an inland container terminal and a new market station within the Holy Ghost Transport Terminal in Enugu. According to Dr. Ozor, the market station will be located between Terminals 1 and 2 and will serve as a key node for cargo handling.

“We’re developing a major inland container port that will process agro-commodities for the South-East and even the North-East. It’s about giving our economy the infrastructure it needs to compete,” he said.

He noted that the Federal Government is also extending its narrow gauge rail from Aba to Enugu, a separate 24-month plan, but emphasized that Enugu’s project is a standalone, state-owned initiative tailored to fit the region’s development priorities.

Regional Integration Urged Amid Eastern Port Push

The announcement comes at a time when stakeholders and infrastructure experts are calling on the leadership of the South-East and South-South to begin integrating their economies through an interconnected rail network—particularly as momentum grows around the push to decongest Lagos by expanding the eastern ports, including Onne, Calabar, and Port Harcourt.

There is growing consensus that rail development is essential to the success of that eastern maritime strategy. However, experts warn that the current state of regional disconnection will make it difficult for any single state to achieve such ambitions alone.

Yet so far, only Enugu State has publicly announced a concrete plan. While other states in the region—Anambra, Abia, Imo, Ebonyi, Rivers—have expressed broad support for infrastructure development, there have been no specific announcements on rail projects tied to a regional corridor or to the Onne Port.

This lack of coordinated effort, experts argue, could undercut the effectiveness of any single-state investment, especially given that rail requires contiguous territory to function optimally across state lines.

China’s Broader Role

Enugu’s rail plan is also emerging at a time when China is looking to deepen its infrastructure footprint across Africa. Amid a growing trade fallout with the United States, most recently marked by Washington’s imposition of tariffs up to 145% on Chinese electric vehicles, Beijing has intensified efforts to forge new commercial relationships across Asia and Africa.

Chinese President Xi Jinping has embarked on a renewed diplomatic and trade tour of several Asian countries in recent weeks, aiming to lock in new agreements that align with China’s Belt and Road ambitions. The focus has shifted toward deepening engagement with African subnational governments as a way of bypassing central government bottlenecks.

In this context, Enugu’s direct negotiation with Chinese companies and openness to foreign infrastructure capital fits into the broader geopolitical realignment. China, already heavily involved in Nigeria’s national railway infrastructure, may see Enugu’s state-level initiative as a model for replicable subnational partnerships.

If successful, the project could serve as a model for other subnational governments to drive their own rail infrastructure, particularly in the face of delays and funding constraints at the federal level.

Dr. Ozor reiterated the state’s commitment to seeing the project through. “This is a defining moment. It’s not just about rail. It’s about changing how we move goods, how we trade, and how we think about our future as a region,” he said.

However, many believe that whether that vision can be fully realized depends not only on Enugu’s resolve but on whether other states in the Southeast and South-South are willing to join in a coordinated rail development plan before the window of opportunity closes.