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Trump’s whiplash tariff proposals turned the stock market—and Americans’ retirement savings—into a rollercoaster of losses. Still, Trump’s base is weathering the storm. The falling numbers are not stemming from his supporters, per Luntz, but rather a large chunk of the population who helped him secure the White House in November but would otherwise identify as nonpartisan.

“His own numbers, with his own people, have withstood all these pressures,” Luntz said. “It’s those who didn’t like him, now have really turned against him, and among independents, swing voters, people who are not ideological or partisan, those are the people who are saying, ‘I don’t like what’s happening right now.’”

“It’s not his own voters—and what the president and the administration will argue is that he’s just as popular today as he was with the people who voted for him. But in the end, we’re all of America, not just those who supported him.”



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