Trump’s Economic Rating Slips as Midterms Near

A Financial Times/Focaldata poll conducted August 7-10 among 1,913 registered voters found that 55 percent disapprove of President Donald Trump’s performance and that his net approval rating among Republicans fell 8 points from the previous month. More than 53 percent say they are financially worse off since Trump returned to the White House in January 2025, including nearly 57 percent of independents and about 25 percent of Republicans. The same survey showed 64 percent disapprove of Trump’s handling of inflation and the cost of living.

Newsweek

Trump began his second term in January 2025, promising lower prices and an “America-first” economy. Since February 28, the United States has been engaged in a war with Iran, a conflict that has driven up energy prices and contributed to a 3.4 percent inflation rate reported for July. Tariff policies and large-scale construction projects have also been cited as factors raising consumer costs.

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• 55 % disapprove of Trump’s overall performance (Financial Times poll).

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• 53 % say they are financially worse off (same poll).

The Independent

• 64 % disapprove of his handling of inflation and cost of living (Financial Times poll).

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• Median existing-home price in July: $434,100 (National Association of Realtors).

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• 30-year fixed-rate mortgage averaged 6.67 % (Freddie Mac, early August).

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White House spokesman Kush Desai defended the administration, arguing that it is delivering on an “affordability agenda” through lower drug prices, reshoring jobs, tax cuts, a historic drop in violent crime, and a secure border. A separate spokesperson noted that July consumer-price data showed only a marginal increase, suggesting inflation is “under control.” President Trump, speaking at a rally, reiterated that paying $4 per gallon for gasoline is a necessary price to prevent Iran from acquiring a nuclear weapon.

Newsweek

Different outlets report divergent assessments of Trump’s economic standing: the Financial Times poll shows a modest decline in Republican net approval, whereas a Reuters/Ipsos poll later in August placed Trump’s net approval on the cost-of-living issue at -47, a far steeper drop. The YouGov/Economist survey recorded only 30 % approval of his economic handling, while the Financial Times poll’s broader disapproval figure sits at 64 %. No source provides a unified metric for “affordability,” leaving the precise impact of tariffs, the Iran war, and domestic policy on household finances unresolved.

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• “The Trump administration continues to deliver on the President's affordability agenda by lowering drug prices, reshoring American jobs, and cutting taxes while simultaneously touting a historic drop in violent crime nationwide and the most secure border in history,” — Kush Desai, White House spokesman

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• “He hasn’t lowered the cost of living, he hasn’t made America more respected, he hasn’t won the war but he has succeeded in making himself a billionaire many times over by abusing his office.” — Charlie Sykes, conservative author and broadcaster

The Guardian

• “The cost of living, as far as homes, apartments and food - the necessities - they have gone up.” — Margaret Derkach

Reuters

The midterm elections in November will test whether Republican candidates can overcome the economic dissatisfaction reflected in these polls. Both parties are expected to focus campaign messaging on inflation, wages, and the ongoing Iran conflict as voters head to the polls.

Newsweek