Economic Concerns Impact Trump’s Approval Among Republicans

President Donald Trump’s net approval rating among Republicans has declined by 8 percentage points over the past month, based on a Financial Times/Focaldata poll. This indicates frustration among some GOP voters about the economy and rising living costs.

According to the poll, over 53% of registered voters report being financially worse off since Trump returned to the White House in January 2025. This includes nearly 57% of independents and about a quarter of Republicans. These findings emerge less than three months before midterm elections, with the GOP aiming to maintain congressional control while the White House highlights Trump’s economic record.

Trump’s Approval Among Republicans

The survey conducted from August 7 to 10 among 1,913 registered voters shows 55% disapproval of Trump’s presidential performance. Notably, Trump’s net approval rating among Republicans decreased by 8 points from the previous month. More than half of registered voters state they are financially worse off since Trump’s return to office.

Voters show greater trust in Democrats over Republicans on issues like inflation, cost of living, jobs, and the economy, traditionally seen as Republican strengths. The poll has a margin of error of ±2.9 percentage points.

Continued Economic Concerns

Economic issues are prominent as the elections approach, with Republicans facing poll data pointing to dissatisfaction with inflation and household expenses. A Pew Research Center poll in July reported by Newsweek found that 28% of Republicans felt Trump’s policies worsened economic conditions, an increase from 18% in January. Additionally, 19% expect the economy to worsen over the coming year. Despite this, 69% of Republicans approve of Trump’s job performance, while 29% disapprove.

Other recent polls echo voter discontent with prices and inflation. A YouGov/Economist survey from July 31 to August 3 showed only 30% approved of Trump’s economic handling, with 65% disapproving. For inflation, 25% thought he managed rising prices well, while 69% disapproved. The Financial Times/Focaldata poll reports similar sentiments, with 64% disapproving of Trump’s inflation and cost of living management, including nearly seven in ten independents and about a third of Republicans.

Approximately two-thirds of respondents believe the economy is on the wrong track, while only about a quarter think it’s heading in the right direction.

Republican Criticism of Trump’s Economic Messaging

During an appearance on CBS News’ Face the Nation, Representative Don Bacon, a Nebraska Republican, criticized Trump’s communication of economic challenges. Bacon suggested Trump’s lack of acknowledgment of the affordability issues Americans face is problematic.

“He doesn’t communicate it well,” Bacon remarked. “Most Americans feel financial pressure, and addressing how to improve wages relative to inflation matters.”

Bacon also criticized Trump’s tariff policies, stating they elevate consumer costs. He argued tariffs act as consumer taxes, leading to higher prices.

Trump has justified higher fuel costs as necessary for preventing Iran from obtaining nuclear capabilities, adding during a rally, he will not apologize for higher gas prices.

The White House’s Response

White House spokesman Kush Desai defended the administration’s record, highlighting efforts to lower drug prices, reshoring jobs, and cutting taxes. Desai emphasized achievements like a decline in violent crime rates and securing the U.S. border.

The administration contends that many economic issues started under former President Joe Biden. They tout tax cuts, investment in manufacturing, and some consumer price reductions as evidence of effective policies.

Approaching Midterms

The Financial Times/Focaldata survey reveals Democrats holding a slight lead over Republicans, with 44% of voters leaning Democrat versus 39% Republican in November’s elections. Recent government data indicate inflation at 3.4% in July, a marked drop in consumer sentiments, and declining real wages last month.

With inflation and the economy consistently rated as primary voter concerns, Republicans must navigate defending Trump’s record while addressing ongoing affordability issues as the midterm elections near.