Trump's approval rating falls as 59% say the economy is in bad shape: Poll

U.S. President Donald Trump's approval ratings on the economy and inflation have fallen after weeks of tariff policy twists and turmoil in the stock market, according to a new poll released Sunday.

The CBS News survey of 2,410 Americans found 44% approved of Trump's handling of the economy and 40% approved of his handling of inflation, both down 4% from March 30.

The President's overall approval rating dropped to 47% this month, down from 50% in March and 53% in February. Views on Trump's tariff plans varied depending on respondents' political affiliations.

At 91%, nearly all Republicans said Trump has a clear plan on Tariffs and trade. Only 43% of independents and 16% of Democrats said the same.

In all, 58% of respondents said they oppose new U.S. tariffs on imported goods. Participants were surveyed from April 8 through 11. on April 9, Trump announced a 90-day pause on reciprocal tariffs, lowering the levy to 10% for goods coming from most countries, with a notable exception.

Reference Sources

1. usatoday - Trump's approval rating falls as 59% say the economy's in bad shape: Poll
2. newyorkpost - Trump's base is sticking with him through tariff turmoil — as more Americans start blaming him for economy: poll

China halts critical rare earth exports as trade war intensifies

(Source: Reuters)

China has suspended exports of a wide range of critical minerals and magnets, threatening to choke off supplies of components central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while the Chinese government drafts a new regulatory system.

Once in place, the new system could permanently prevent supplies from reaching certain companies, including American military contractors.

The official crackdown is part of China’s retaliation for U.S. President Trump’s sharp increase in tariffs that started on April 2. On April 4, the Chinese government ordered restrictions on the export of six heavy rare earth metals, which are refined entirely in China, as well as rare earth magnets, 90% of which are produced in China.

The metals, and special magnets made with them, can now be shipped out of China only with special export licenses.

However, China has barely started setting up a system for issuing the licenses. This has caused concern among industry executives that the process could drag on and that current supplies of minerals and products outside of China could run low.

If factories in Detroit and elsewhere run out of powerful rare earth magnets, that could prevent them from assembling cars and other products with electric Motors that require these magnets.

Reference Sources

1. nytimesen - China Halts Critical Rare Earth Exports as Trade War Intensifies

Japan ruling party chief calls for stronger yen

(Source: Reuters)

Japan's ruling party's policy chief, Itsunori Onodera, has called for the strengthening of the yen to boost the country's industrial competitiveness, as the currency's weakness has pushed up households' living costs.

Onodera also stated that Japan should not intentionally sell its U.S. Treasury holdings, the largest outside the U.S., in retaliation against tariffs levied by U.S. President Donald Trump.

Speaking on a program on public broadcaster NHK, Onodera rejected an opposition lawmaker's suggestion that Tokyo use its U.S. Treasury holdings as a negotiating tool.

Onodera's comments come ahead of trade talks with the U.S.

The yen's weakness has pushed up households' living costs, and the country's economy has been hit hard by the Covid-19 pandemic.

Onodera's call for the strengthening of the yen is seen as a positive step towards bolstering Japan's economy and boosting its industrial competitiveness.

Reference Sources

1. cna - Japan ruling party chief calls for stronger yen
2. cnbc - Japan policymaker wants stronger yen, says Tokyo shouldn't sell Treasuries
3. bussinesstimes - Japan policymaker wants stronger yen; against selling Treasuries - The Business Times
4. nikkei - Japan's ruling heavyweight says Tokyo shouldn't sell U.S. Treasuries

The CommonWealth English daily news digest is a service curated by the CommonWealth English team with the help of AI tools.

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