Trump's Economic Approval Hits Second-Term Low Ahead of Midterms
Recent polls show President Trump’s handling of the economy, especially inflation, receiving strong disapproval, putting the Republican Party at risk in the upcoming midterm elections.
President Trump’s economic approval ratings have slipped to the lowest levels of his second term, with inflation emerging as the primary concern for voters as midterm elections approach. A new NBC News poll found that 53% of Republicans are dissatisfied with the state of the economy, and only about 25% of all voters approve of Trump’s handling of inflation, while 70% disapprove, according to an average of recent polls compiled by Nate Silver. RealClearPolitics reported a 70.4% disapproval rating for Trump’s management of prices, a top issue for many voters.
The economic discontent extends to other areas such as trade and taxes, where Trump holds a net rating of –29.7% on trade and –31.1% on the overall economy, both worse than his overall net approval of –22.6%. Ipsos summarized its findings, noting that “American consumers have grown more and more disenchanted with the economy and the Trump administration,” and that disapproval of his economic handling has nearly doubled since his inauguration.
Democrats are gaining ground, with a Focaldata-Financial Times poll showing 47% of respondents believing Democrats would manage inflation better, compared with 34% for Republicans. However, 20% of voters remain undecided or think neither party would improve the situation. On taxes, a Washington Post-ABC News-Ipsos poll gave Democrats a seven-point advantage, despite Trump’s claim that his tax legislation delivered the largest cuts in history.
Trump has dismissed unfavorable polls as inaccurate and, at a rally in Mississippi, predicted a Republican victory based on what he described as a booming economy. The Harvard CAPS/Harris Poll recorded October approvals for inflation, tariffs and the economy at their lowest of the year, with only 27% saying the economy is on the right track. NBC reported that three-quarters of voters expressed dissatisfaction with the economy and half called for “a great deal” of change, a new high in its polling.
Among Trump supporters, a Politico poll found that 54% cite the cost of living as their top issue, attributing high gas prices to the war in Iran and tariff policies. The mounting economic concerns are seen as a significant challenge for Republicans heading into the November elections.