President Donald Trump‘s approval rating on the economy has fallen to fresh lows in several national surveys, reflecting growing voter frustration over the cost of living, fuel prices and the fallout from the U.S. war with Iran as the country heads toward the midterm elections.
A Financial Times/Focaldata poll published found that just 33 percent of registered voters approved of Trump’s overall job performance, down three points from the previous month and the lowest reading since the series began in May. The online survey was conducted among 1,914 registered voters, with a margin of error of plus or minus 2.6 percentage points.
Economic pessimism deepens across the electorate
The poll found that 66 percent of respondents believed the U.S. economy was heading in the wrong direction, while 57 percent said they were financially worse off under the Trump administration, up from 53 percent the previous month.
Diesel fuel, a key cost for American industry and agriculture, reached a record $5.85 a gallon on September 4, according to AAA figures cited by the Financial Times, amid disruptions linked to the U.S. war with Iran and rising borrowing costs.
Trump’s political base also showed signs of erosion. Republican approval of the president fell more than two points to 72 percent, another low for the series. Only 53 percent of GOP voters approved of his handling of jobs and the economy, down nearly eight points from the previous month.
Patrick Flynn, a senior data journalist at Focaldata, told Newsweek that Trump’s decline was notable because it was happening fastest among Republicans. Roughly 30 percent of Republicans now see him as a liability for GOP candidates heading into the midterms, Flynn said.
Inflation and the cost of living also remain weak points among Trump’s supporters. Only 37 percent of 2024 Trump voters approved of his handling of those issues, one of just nine areas where he trails the coalition that elected him.
Flynn said the gap is giving Democrats an advantage on the issue, with 44 percent of Americans naming Democrats as the better party to handle inflation, a 12-point lead over Republicans.
Trump downplays Iran conflict amid fuel price surge
As fuel costs reached record levels, Trump on September 4 echoed comments from his vice president, insisting the Iran conflict remained a relatively limited operation rather than a full-scale war.
The remarks came the same day Trump was photographed disembarking Air Force One at Morristown Municipal Airport in New Jersey, according to AFP.
Other recent polling confirms the trend
The Focaldata findings were not isolated. Several national surveys throughout the summer similarly showed Trump’s economic standing falling to historic lows.
The CNBC All-America Economic Survey, conducted July 8 through July 12 among 1,000 registered voters, found Trump’s overall approval at 40 percent and disapproval at 59 percent, for a net rating of negative 19.
On the economy, 38 percent approved of Trump’s performance while 60 percent disapproved, producing a net rating of negative 22 — the lowest economic rating of his political career in CNBC’s polling. The survey also found 61 percent of respondents pessimistic about the economy’s current state and future outlook, compared with 25 percent who were optimistic.
A Washington Post-Ipsos poll conducted July 8-13 among 2,648 U.S. adults put Trump’s overall approval at 37 percent and disapproval at 61 percent. His ratings on the economy, immigration and the Iran war were all below 40 percent.
The poll found Trump’s economic approval had fallen two points to 30 percent since April. His approval on inflation dropped two points to 22 percent, while just 19 percent approved of his handling of gas prices.
A Reuters/Ipsos poll put Trump’s economic approval at 36 percent, down one point from the previous survey and the lowest figure recorded during either of his presidential terms. Economic disapproval rose five points to 56 percent.
The same poll put Trump’s overall approval at 42 percent, essentially unchanged, with disapproval at 53 percent.
An NPR/PBS News/Marist survey also found Trump’s economic approval at 36 percent, his lowest mark in the six years Marist has asked the question. The level of disapproval had not been matched since Joe Biden’s presidency in February 2022.
The survey also found Democrats with a slight edge over Republicans on economic trust, 37 percent to 33 percent. Trump’s overall approval stood at 38 percent, his lowest reading of his second term.