By JOSH BOAK and AMELIA THOMSON-DEVEAUX, Associated Press

WASHINGTON (AP) — Americans’ trust in President Donald Trump to bolster the U.S. economy appears to be faltering, with a new poll showing that many people fear the country is being steered into a recession and that the president’s broad and haphazardly enforced tariffs will cause prices to rise.

Roughly half of U.S. adults say that Trump’s trade policies will increase prices “a lot” and another 3 in 10 think prices could go up “somewhat,” according to the poll by The Associated Press-NORC Center for Public Affairs Research.

About half of Americans are “extremely” or “very” concerned about the possibility of the U.S. economy going into a recession in the next few months.

While skepticism about tariffs is increasing modestly, that doesn’t mean the public is automatically rejecting Trump or his approach to trade. However, the wariness could cause problems for a president who promised voters he could quickly fix inflation.

Trump shows vulnerability on the economy

Three months into his second term, Trump’s handling of the economy and tariffs is showing up as a potential weakness. About 4 in 10 Americans approve of the way the Republican president is handling the economy and trade negotiations. That’s roughly in line with an AP-NORC poll conducted in March.

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Matthew Wood, 41, said he’s waiting to see how the tariffs play out, but he’s feeling anxious.

“I’m not a huge fan of it, especially considering China and going back and forth with adjustments on both ends,” said Wood, who lives in West Liberty, Kentucky, and is unemployed. “Personally, it hasn’t affected me as of yet. But, generally, I don’t know how this is going to come to an end, especially with the big countries involved.”

Still, Wood said he changed his registration from Republican to independent, having been turned off by Trump’s attitude and deference to billionaire adviser Elon Musk. Wood voted for Trump last year and said he’s willing to give the president until the end of the year to deliver positive results on tariffs.

About half of U.S. adults, 52%, are against imposing tariffs on all goods brought into the U.S. from other countries. That’s up slightly from January, when a poll found that 46% were against tariffs. Driving that small shift largely appears to be adults under age 30 who didn’t previously have an opinion on tariffs.

Trump supporter Janice Manis, 63, said her only criticism of Trump on tariffs is that he put in a partial 90-day pause for trade negotiations with other countries.

“Actually, I think he shouldn’t have suspended it,” said Manis, a retired sheriff’s deputy from Del Rio, Texas. “Because now China is trying to manipulate all of these other countries to go against us, whereas if he would have left all the tariffs in play then these countries would be hit hard. But, oh, well, things happen.”

Skepticism remains about Trump’s tariff approach

Not quite 100 days into Trump’s second term in the White House, people around the country are bracing for possible disruptions in how they spend, work and live. The U.S. economy remains solid for the moment with moderating inflation and a healthy 4.2% unemployment rate, yet measures such as consumer confidence have dropped sharply.

Trump has used executive actions to remold the global economy. He’s imposed hundreds of billions of dollars a year in new import taxes — albeit partially suspending some of them — launching a full-scale trade war against China and pledging to wrap up deals with dozen of other countries that are temporarily facing tariffs of 10%. Financial markets are swinging with every twist and turn from Trump’s tariff pronouncements.

Many Americans are not convinced this is the right approach. About 6 in 10 say Trump has “gone too far” when it comes to imposing new tariffs, according to the poll.

Milka chocolate bars from Germany are displayed for sale at Economy Candy in New York’s Lower East Side, Friday, April 4, 2025. (AP Photo/Richard Drew)

Stocks are down this year, while interest charges on U.S. government bonds have climbed in ways that could make it more costly to repay mortgages, auto loans and student debt. CEOs are scrapping their earnings guidance for investors and seeking exemptions from Trump’s tariffs, which hit allies such as Canada and even penguin-inhabited islands.

Trump seemed to recognize the drag from tariffs as he highlighted this week the possibility of a deal with China. Treasury Secretary Scott Bessent had also said in a closed-door speech that the situation with China is not “sustainable.”

Widespread concern about rising grocery prices

About 6 in 10 U.S. adults are “extremely” or “very” concerned about the cost of groceries in the next few months, while about half are highly concerned about the cost of big purchases, such as a car, cellphone or appliance. Less than half are highly concerned about their ability to purchase the goods they want — a sign of the economy’s resilience so far.

Retirement savings are a source of anxiety — about 4 in 10 Americans say their retirement savings are a “major source” of stress in their lives. But fewer — only about 2 in 10 — identify the stock market as a major source of anxiety.

“This whole tariff war is just a losing situation not only for the American people but everybody worldwide,” said Nicole Jones, 32. “It’s revenge — and everybody’s losing on it.”

The Englewood, Florida, resident voted last year for then-Vice President Kamala Harris, who replaced the incumbent president, Joe Biden, as the Democratic nominee. Jones hadn’t given much thought to tariffs until recently, and now, as an occupational therapy student, she also worries about losing her financial aid and facing high amounts of educational debt.

“Things are more expensive for us,” she said.

And most Americans still think the national economy is in a weak state.

The difference is that Republicans — who largely thought the economy was in bad shape when Biden was president — now feel more optimistic. But Democrats have become much more bleak about the country’s financial future.

“It wasn’t all sunshine and rainbows, but we were doing fine,” Jones, a Democratic voter, said about the economy before Trump’s policies went into effect.

The AP-NORC poll of 1,260 adults was conducted April 17-21, using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for adults overall is plus or minus 3.9 percentage points.

By JOEY CAPPELLETTI, Associated Press

LANSING, Mich. (AP) — President Donald Trump will mark his first 100 days in office next week with a rally in Michigan, his first since returning to the White House earlier this year.

Trump will visit Macomb County on Tuesday, the White House press secretary said. The region just north of Detroit, known as an automotive hub.

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“President Trump is excited to return to the great state of Michigan next Tuesday, where he will rally in Macomb County to celebrate the FIRST 100 DAYS!” Karoline Leavitt said Wednesday on social media.

The rally will take place one day before Trump’s 100th day in office — a traditional early milestone in which a president’s progress is measured against campaign promises. Michigan was one of the key battleground states Trump flipped last year from Democrats on his path back to the White House.

Trump has not traveled much since taking office outside of personal weekend trips. His only other official trip in his second term was during the first week, when he visited disaster zones in North Carolina and California and held an event in Las Vegas to promote his plan to eliminate taxes on tips.

But later this week, Trump will travel to Pope Francis’ funeral in Rome, the first foreign trip in his second term.

Trump’s upcoming trip to Michigan follows a series of meetings and phone calls with the state’s high-profile Democratic governor, Gretchen Whitmer. Once a sharp critic of Trump, Whitmer has said that she hopes to find common ground with the president in his second term.

A key area of potential cooperation that Whitmer has pointed to is Selfridge Air National Guard Base, long a concern for Whitmer and Michigan lawmakers amid uncertainty over its future as the A-10 aircraft stationed there are phased out. The base is located in Macomb County, where he is set to appear Tuesday.

Trump mentioned Selfridge during an April 9 executive order signing in the Oval Office, an event that Whitmer was present for, saying he hoped to keep the base “open, strong, thriving.”

“I think we’re going to be successful, Governor. I think we’ll be very successful there,” Trump said about Selfridge.

Whitmer — whom Trump praised during his remarks — later said she was unexpectedly brought into the Oval Office during her visit. A photo captured her trying to shield her face from cameras with a folder.

Asked Wednesday if Whitmer would appear with the president in Michigan, a spokesperson for the governor said they “don’t have anything to share at this time.”

Whitmer and other Michigan officials have long advocated for a new fighter mission to replace the outgoing A-10 squadron at Selfridge.

In a 2023 letter sent during President Joe Biden’s administration, Whitmer urged the secretary of the Air Force to act, writing, “I repeat and reiterate what I stated in November and many times before over the past year: a fighter mission at Selfridge to recapitalize the A10s is the right path forward for the State of Michigan, the Air Force, and the nation.”

By YURI KAGEYAMA, Associated Press Business Writer

TOKYO (AP) — Global shares traded mixed Thursday, as worries crept back following a Wall Street rally that came after President Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his trade war.

France’s CAC 40 slipped 0.9% in early trading to 7,412.26, while the German DAX shed early 1.0% to 21,755.04. Britain’s FTSE 100 fell 0.3% to 8,375.06. U.S. shares were set to drift lower with Dow futures declining nearly 0.9% at 39,433.00. S&P 500 futures fell 0.8% to 5,359.25.

Japan’s benchmark Nikkei 225 added 0.5% to finish at 35,039.15. Australia’s S&P/ASX 200 rose 0.6% to 7,968.20. South Korea’s Kospi lost 0.1% to 2,522.33. Hong Kong’s Hang Seng declined 0.7% to 21,909.76, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,297.29.

Calling Trump’s policy announcements “headline turbulence,” Tan Jing Yi of the Asia & Oceania Treasury Department at Mizuho Bank warned that global economies could be hurt in the long run, adding, “Sentiments swing from hopes of intense relief to inflicted economic gloom.”

Much of the recent market volatility is because of uncertainty about what Trump will do with his economic policies. Adding to some relief was Trump saying late Tuesday that he has “no intention” to fire the head of the Federal Reserve.

Trump’s tough talk had frightened investors because the Fed is supposed to act independently, without pressure from politicians, so that it can make decisions that may be painful in the short term but are best for the long term.

While a cut to interest rates by the Fed could give the economy a boost, it could also put upward pressure on inflation. Trump also said U.S. tariffs on imports coming from China could come down “substantially” from the current 145%.

“It won’t be that high, not going to be that high,” he said.

Investors are hoping Trump would lower his tariffs after negotiating trade deals with other countries. Trump said this week that he would be “very nice” to the world’s second-largest economy and not play hardball with Chinese President Xi Jinping.

“There is an opportunity for a big deal here,” U.S. Treasury Secretary Scott Bessent said Wednesday.

In energy trading, benchmark U.S. crude rose 55 cents to $62.82 a barrel. Brent crude, the international standard, added 56 cents to $66.68 a barrel.

In currency trading, the U.S. dollar slipped to 142.67 Japanese yen from 143.15 yen. The euro cost $1.1375, up from $1.1322.

AP Business Writer Stan Choe contributed.

By HUIZHONG WU, Associated Press

BANGKOK (AP) — China on Thursday denied U.S. President Donald Trump’s assertion that the two sides were involved in active negotiations over tariffs, saying that any suggestion of progress in this matter was as groundless as “trying to catch the wind.”

China’s comments come after Trump said Tuesday that the final tariff rate on China’s exports would come down “substantially” from the current 145%.

“China’s position is consistent and we are open to consultations and dialogues, but any form of consultations and negotiations must be conducted on the basis of mutual respect and in an equal manner,” said Ministry of Commerce spokesman He Yadong. “Any claims about the progress of China-U.S. trade negotiations are groundless as trying to catch the wind and have no factual basis.”

Trump had told reporters earlier in the week that “everything’s active” when asked if he was engaging with China, although his Treasury Secretary had said there were no formal negotiations.

Trump had put 145% tariffs on imports from China, while China hit back with 125% tariffs on U.S. products. While Trump has given other countries a 90-day pause on the tariffs, as their leaders pledged to negotiate with the U.S., China remained the exception. Instead, Beijing raised its own tariffs and deployed other economic measures in response while vowing to “fight to the end.” For example, China restricted exports of rare earth minerals and raised multiple cases against the U.S. at the World Trade Organization.

China also made it clear that talks should involve the cancellation of all tariffs it currently faces.

“The unilateral tariff increase measures were initiated by the United States. If the United States really wants to solve the problem, it should face up to the rational voices of the international community and all parties at home, completely cancel all unilateral tariff measures against China, and find ways to resolve differences through equal dialogue,” said He, the spokesman.

Despite the economic measures leveled against China, Trump said Tuesday that he would be “very nice” and not play hardball with Chinese President Xi Jinping.

“We’re going to live together very happily and ideally work together,” Trump said.