President Donald Trump had perhaps one of the biggest setbacks for his agenda this week. After a whipsaw performance in overnight markets on Tuesday evening, Trump blinked and announced a 90-day pause on his “reciprocal tariffs.” Trump himself admitted this came after markets got “a little queasy.” It also came after JPMorgan Chase CEO Jamie Dimon, arguably the most respected executive on Wall Street, warned that a recession was likely. It turns out that even as the Republican Congress and the courts largely stand by, one thing can grind Trump to a halt: the bond market, which went haywire on Tuesday evening. But Trump did not just make Wall Street sick. The University of Michigan’s survey of consumers found that consumer sentiment dropped for the fourth straight month in a row, 30 percent since December 2024. And this does not erase the fact that Trump still slapped on 145 percent duties on China and an across-the-board tariff of 10 percent for other countries. And it seems Trump’s actions have hurt his approval. This week, The Economist and YouGov released a survey of Trump’s approval rating conducted between April 5 and April 8, meaning it came after Trump’s “Liberation Day” announcement of tariffs. The results are not great for Trump. A slight majority of 51 percent of Americans disapprove of him. By comparison, when he first took office, only 43 percent of Americans disapproved of him. He is now about as unpopular as he was at this moment in his first term as president. No only that, Trump has seen his approval among young people between the ages of 18 and 29 years old dip. One of the biggest stories of 2024 was how young people, particularly young men, shifted hard to the right. But in January, 48 percent of Americans between the ages of 18 and 29 approved of Trump’s performance. Now, only 32 percent of young people approve of the way he is handling the job of president. He also went from having a 55 percent approval rating among men as a whole to having an even number of 48 percent approving and disapproving of him. Trump does even worse when it comes to individual issues. When he took office earlier this year, 49 percent of Americans approved of the way he handled the economy and only 37 percent disapproved. Now, 51 percent of Americans disapprove of how Trump is handling the economy and 41 percent approve, a stunning reversal. Not surprisingly, most Americans don’t like his tariffs: 52 percent overall oppose the policy, and 29 percent of independents are against them. Young people between the ages of 18 to 29 disapprove of the tariffs more than any other age demographic, with 59 percent of young Americans against them. At this point, the only thing keeping Trump viable in polling terms is his immigration policies. Aside from tariffs, Trump’s proposals for mass deportations were probably the only clear policy Trump articulated on the campaign trail. The survey showed that 50 percent of Americans approve of Trump’s handling of immigration and only 44 percent disapprove. But that is a smaller margin than expected, especially since Trump partially won because of Americans’ frustration with the influx of migrants at the US-Mexico border. It’s not clear if repeated cases of the Trump administration sending migrants to El Salvador or publicly defying courts on immigration orders will shift public opinion. Still, at this point, immigration remains his strong suit. But it’s fairly clear that likely will not keep him in the clear should he continue with his erratic trade actions.