Following the market turmoil spurred by President Trump’s “Liberation Day” tariffs, voters’ number one concern is now the administration’s new trade regime, according to new polling. A majority of Americans now view the president as being a poor manager of the nation’s economy, one of the few metrics where he got high marks during his first term. 

Mr. Trump said last week that he would lower his reciprocal tariffs for 90 days to 10 percent for those nations which did not retaliate against his original tariffs announced at the beginning of April. The one country not subject to that pause is Communist China, which now faces a 145 percent tariff on its imports — with some exceptions for smartphones and other consumer electronics. 

Markets were quick to sour on the president’s import taxes. The Nasdaq has fallen more than 3.5 percent, and the S&P 500 and the Dow Jones Industrial Average are both down 4 percent since Mr. Trump’s tariff announcement on April 2. Americans, many of whom have seen their retirement accounts suffer as a result of the ensuing market turmoil, now say tariffs are top-of-mind, according to the new poll from Echelon Insights.

In total, 70 percent of poll respondents say that they are either very or somewhat concerned about the tariff plan, while only 27 percent did not express concerns. On immigration, 70 percent say they are very or somewhat concerned about the issue, and 28 percent say they are not concerned. 

The president and his team have brushed off market concerns about the tariff scheme, with some offering competing explanations for how the trade war will wind down. White House trade advisor Peter Navarro claimed over the weekend that a 0 percent tariff is not an adequate goal, while the president and his treasury secretary have asserted that they are prepared to cut deals with individual nations in order to lower trade barriers. 

Mr. Navarro’s stated means of using tariffs to bring manufacturing jobs back to the United States is a “top priority” for 11 percent of poll respondents, according to Echelon, falling far behind issues like tackling inflation, dealing with tax reform, and raising wages. 

The lack of clarity has spooked investors, and apparently led voters to no longer view Mr. Trump as a responsible steward of the economy. According to the Echelon poll, just 44 percent now say they approve of how Mr. Trump is managing the nation’s economy, while 52 percent disapprove. On tariffs specifically, 40 percent approve of Mr. Trump’s import tax scheme and 55 percent disapprove. 

The poll results get even worse for the president if — as is expected — the cost of living goes up as a result of the import taxes. When asked what the president should do if prices increase because of the tariffs, 54 percent say he should reduce the import taxes, while 36 percent say they should stay in place. 

On immigration, Mr. Trump still gets strong marks. A majority — 54 percent — approve of his handling of the issue, while only 44 percent disapprove.