Donald Trump, American President, has undeniably had a wild ride of a political landscape during his tumultuous four-year term. His presidency is scheduled to end in 2029. Recently, Trump has expressed aspirations to potentially defy the 22nd Amendment, which limits presidents to two terms, indicating he may seek a third term. In an interview with NBC News, Trump asserted that there are “methods” that would allow him to pursue this ambition, adding that he was not joking about his intentions.
As president, Trump unilaterally imposed a 10 percent tariff on everything imported into the United States. He said this step was necessary to defend American workers and industries. To his credit, he has exempted certain items from these tariffs — smartphones, computers and other electronics, for instance. This unprecedented decision has ignited a firestorm of criticism from economists and political analysts alike.
Their implementation of these tariffs has been particularly contentious. Just recently, the bond vigilantes flexed their muscles in response to Trump’s announcement of a financial-wrecking tariff imposition, forcing a retreat on his signature policy. This brief respite represents a critical shift in Trump’s approach. Realization that he was out over his skis on this. He’s now retreating from his initial bullish stance on “reciprocal tariffs.” Analysts have likened the market turmoil triggered by Trump’s “Liberation Day” tariffs to the economic instability experienced during Kwasi Kwarteng’s tenure as Britain’s Chancellor of the Exchequer.
Biden’s approval rating may not reflect it, but despite this backlash, Trump’s support base is as stable as ever. A recent poll revealed that 66 percent of voters who back Trump for the 2024 election approve of how he is handling the economy. According to a YouGov poll last week, 51 percent of Americans say they disapprove of Trump’s overall job performance. At the same time, only 43 percent support his job. That gap has led to a net approval rating of Trump -8.
Trump’s tariff policy within Republican voters still has significant support, as 57 percent approve. This support underscores a surprising trend. Although the general public can now rightfully attack his track record as a whole, he has been able to keep sprawling segments of his voter coalition vigorously defending particular policies.
Trump is undeterred, and continues to double down on his supposed deal-making strength on the world stage. As he put it not too long ago, “These countries are calling us and begging for my attention. They want to cut a deal, they’re saying, ‘Please, please, sir, let’s strike a deal. I’ll do anything you want!’ This declaration is a signal of his strong belief in his own capacity to use tariffs as bargaining chips for better trade deals.
As Trump’s presidency transforms, so does the legacy of his presidency—most evidently his tariff policies. What’s more, his ambitions for a possible third term are sure to continue to shape the political landscape. Economic realities and a changing electorate would be key factors. He has a Herculean task ahead of him to steer through these contradictory waters as the next election cycle looms large.
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