President Trump’s economic approval ratings have plunged to the lowest levels of either of his terms, with just 31% of Americans supporting his handling of the economy, according to new polling that signals growing discontent among voters as inflation and affordability concerns persist.
The sharp drop from 40% in March represents a worrying trend for the administration, which had previously touted economic management as a key strength. The AP-NORC poll indicates this is the lowest rating Trump has received on economic issues across either of his presidential terms.
Why the dramatic slide? Nearly seven in ten Americans (68%) now describe the economy as “poor,” reflecting widespread concerns about persistent inflation and cost-of-living pressures that have continued to squeeze household budgets despite the administration’s assurances of improvement.
Republican Support Wavering
Perhaps most troubling for the White House is the erosion of support within Trump’s own base. “About 7 in 10 Republicans, 69%, approve of how Trump is handling the economy in the December poll, a decline from 78% in March,” the AP-NORC survey found.
The CNBC All-America Economic Survey paints an equally concerning picture, showing Trump with a -13 net approval rating on economic matters — 42% approval versus 55% disapproval. This negative spread represents the lowest point during both of his terms.
Micah Roberts, the Republican pollster for Public Opinion Strategies, pointed to personal financial pressures as the primary driver of dissatisfaction. “It is clear that the cost of living in Americans’ own personal lives is much more likely to be weighing them down about their economic confidence than the shutdown,” Roberts explained.
Immigration Numbers Also Sliding
The economic numbers aren’t the only metrics causing concern within the administration. The president’s approval rating on immigration has also declined, dropping to 38% from 49% earlier in the year. His handling of border security — traditionally a stronger area for Trump — still garners 50% approval, though that’s down slightly from 55% in September.
Interestingly, Trump’s overall job approval has dipped only slightly to 36%, according to AP-NORC, suggesting that voters unhappy with specific policy areas haven’t completely abandoned their support for the president.
The tariff policies that have been a cornerstone of Trump’s economic approach are proving particularly unpopular. Some 56% of Americans disapprove of these measures, resulting in a -15 net approval rating, the CNBC survey revealed.
Partisan Divides Deepen
The partisan split on economic approval remains stark. While 77% of Republicans still approve of Trump’s economic management, that support plummets to just 25% among independents and a mere 6% among Democrats.
Can the administration reverse these trends before they become politically damaging? The polling suggests Trump faces an uphill battle, particularly on inflation and affordability issues, where his approval rating sits at just 34% — the worst recorded during his second term.
The White House has yet to respond directly to these latest numbers, but administration officials have previously pointed to external factors like global supply chain disruptions and international conflicts as contributing to economic pressures.
For now, these polls represent a clear warning sign for an administration that has repeatedly claimed credit for economic strength. As kitchen table issues continue to dominate voter concerns, Trump’s ability to convince Americans that he can manage the economy effectively may prove crucial to maintaining political support through the remainder of his term.
