Stagwell Inc. Releases April Harvard CAPS / Harris Poll Results: Trump Approval Steady Amid Economic Concerns

President Trump’s approval rating has shown resilience, holding at 48%, with notable strengths in his handling of immigration (51%) and government cost reduction (50%). However, his management of inflation and trade policy appears to be faltering, garnering only 41% approval in each category. Mark Penn, Co-Director of the Harvard CAPS / Harris poll and Chairman and CEO of Stagwell, remarked, "Trump is perhaps making one of the biggest gambles of his presidency, but voters are willing to give him some time."

The poll reveals a stark reality for voters, with only 39% believing the country is on the right track—a slight drop from March. Personal financial situations appear to be worsening for 45% of respondents, particularly among Democrats, Independents, women, and older voters. While the Democratic Party's approval rating has risen to 42%, it still trails behind the Republican Party's 51% approval.

Inflation and economic issues continue to dominate voter priorities. More voters now view taxes as a pressing concern, indicating a shift in focus away from immigration—once considered a top issue.

Despite the economic anxieties, a significant majority of voters express support for many of Trump’s policies. High approval ratings are seen for deporting illegal immigrants who have committed crimes (74%) and closing the borders (70%). However, more controversial policies, such as tariffs on trade with China, Mexico, and Canada, received mixed reactions, with only 50% support.

Interestingly, 52% of voters believe Trump is outperforming Biden, although 43% think he is doing worse than expected. A notable 61% of respondents suggest that Democrats should adopt a wait-and-see attitude rather than outright opposition to Trump’s tariffs and trade policies.

The data presents a divided view on Trump's tariffs, with 47% opposing and 45% supporting them. Voters indicated that tariffs might be the right approach but require patience to yield results. A significant portion, 48%, feels that these tariffs have not yet impacted them, though 38% report negative effects, primarily through increased everyday costs and perceived risks to retirement savings.

An overwhelming majority (84%) of voters support free trade, with 78% believing it has benefitted the U.S. economy. However, misconceptions about the role of imports persist, with many voters overestimating their share in the economy. The poll shows a partisan divide, with Republicans more likely to view tariffs as necessary for job protection.

The poll indicates that 71% of voters have been following stock market news closely, with a majority describing recent trends negatively. Despite these concerns, a plurality expects the U.S. economy to worsen in the upcoming year. This sentiment is coupled with a partisan split regarding expectations for personal financial situations, showcasing a more pessimistic outlook among Democrats.

The issue of government expenditure resonates strongly with voters, with 81% supporting efforts to balance the federal budget. While 67% advocate for cutting $1 trillion in expenditures, there is skepticism regarding the efficacy of initiatives led by high-profile figures like Elon Musk. A majority believes Musk should resign from his special government role when it comes up for renewal.

The April Harvard CAPS / Harris Poll results highlight a complex political landscape where President Trump's approval remains relatively stable amidst economic challenges and public skepticism about specific policies. As inflation continues to be a pivotal issue, the findings suggest that while there is support for many of Trump’s initiatives, voters are increasingly wary of the economic implications of his tariff strategies. The data provides critical insights for stakeholders as they navigate the evolving political and economic environment leading into the 2026 elections.