The Trump administration’s recent trade deals with several countries are helping boost public confidence in the economy’s outlook, CNN reported on Tuesday.
Consumer confidence rose by two points this month to a reading of 97.2, according to the Conference Board on Tuesday, indicating that Americans’ views on the economy have stabilized after a sharp decline in the spring. That drop followed the announcement of sweeping tariffs by President Trump, which had raised concerns about rising prices and potential strain on the labor market after being panned by most of the media and so-called experts who were wrong about the tariffs’ effects on the economy.

Since then, confidence has rebounded somewhat. The administration has repeatedly delayed the implementation of those tariffs and announced trade agreements with seven countries, including China, the United Kingdom, and Japan, said the report.
Earlier this week, the Trump administration announced it had reached the framework of a trade agreement with the European Union, one of the United States’ largest trading partners, calling it the “biggest deal ever made.” However, the survey was conducted in the weeks leading up to July 20 and does not reflect public reaction to the EU trade deal, CNN noted.

“Consumer confidence has stabilized since May, rebounding from April’s plunge, but remains below last year’s heady levels,” said Stephanie Guichard, senior economist of global indicators, at The Conference Board.