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A series of national polls show President Donald Trump facing sustained disapproval over his handling of the U.S. economy, with warning signs even emerging among core Republican voters.
From record-low approval ratings to cracks in his MAGA base, the numbers suggest that Trump’s economic brand is under strain heading into the 2026 midterms.
The White House maintains that Trump “inherited the worst inflation crisis in a generation from Joe Biden’s incompetence” and points to how the administration “rapidly cooled inflation to a 2.5 percent annualized rate.”
A spokesman previously told Newsweek: “Turning the Biden economic disaster around has informed nearly every action the Trump administration has taken since Day One.”
Newsweek contacted the White House via email outside of regular business hours for further comment.
Why It Matters
The findings highlight the erosion of public satisfaction in the handling of a key pillar of Trump’s political identity—economic stewardship—at a pivotal moment before the 2026 midterm elections. As inflation and the rising cost of living persist, the administration’s capacity to maintain party unity and voter confidence could shape both legislative battles in Congress and the broader fight for control over the House and Senate.
What To Know
Trump’s second-term calling card was supposed to be economic revival. Instead, a raft of recent polls suggests Americans are dissatisfied with his handling of the economy, inflation, and affordability.
1. AP-NORC: Worst Economic Approval Rating From First or Second Term
An Associated Press-NORC poll conducted December 4—8, 2025 found that only 31 percent of Americans approve of Trump’s handling of the economy, down from 40 percent in March, marking the lowest economic approval rating measured of his first or second term with this particular pollster.
The poll, involving 1,146 adults and a four-point margin of error, reported a significant drop in support among Republicans: approval fell from 78 percent in March to 69 percent in December.
The survey also revealed that two-thirds of Americans rated the economy as “poor,” a sentiment unchanged since Biden’s final year in office.
It also showed that financial strain is forcing nearly half (48 percent) of Americans to cut back on nonessential holiday spending, with 87 percent saying grocery prices are higher than usual. Lower-income households are especially hard hit, with increased numbers delaying major purchases or cutting back on essentials.
2. Fox News: Trump Rated Worse Than Biden on Economy
Separate polling from Fox News, conducted November 14-17 among 1,005 registered voters, found that 76 percent rate the U.S. economy negatively under Trump, up from 70 percent at the end of the Biden administration.
Voters blamed Trump for the economic situation at a two-to-one ratio over Biden (62 percent versus 32 percent).
3. NBC News: MAGA Base Shows Cracks
An NBC News Decision Desk poll, conducted by SurveyMonkey with a margin of error of plus or minus 1.9 percentage points, shows Trump’s overall approval at 42 percent, with 58 percent disapproval.
While 70 percent of MAGA Republicans still strongly approve, that’s an eight-point drop since April.
Economic concerns dominate in the poll, which surveyed 20,252 adults online from November 20 to December 8, with respondents citing inflation and cost-of-living pressures as top worries, despite Trump’s insistence that affordability is a “hoax.”
4. Reuters/Ipsos: Affordability Still Hurts
An online Reuters/Ipsos poll of 4,434 nationwide respondents, with a margin of error of two percentage points in either direction, shows Trump’s overall approval at 41 percent, up slightly from November.
But his rating on cost-of-living issues remains weak at 31 percent, despite climbing from the previous month of 26 percent.
The poll, conducted between December 3 and 8, highlights that affordability is the dominant concern for voters, even as Trump touts tariff rollbacks and tax cuts.
5. The Economist/YouGov: Net Negative on Economy
The Economist’s tracker places Trump’s net approval at -16 percent, with Americans “especially dissatisfied” on inflation and economic management.
Ratings that were briefly positive after his inauguration have collapsed into strongly negative territory following tariff hikes and affordability woes.
Inflation/prices (23 percent), and jobs and the economy (15 percent) were also rated as voters’ top concerns, signaling how important it is for Trump to score well on these issues.
6. Harvard CAPS/Harris: Inflation Tops Voter Concerns
While this poll, which was conducted online within the United States on December 2-4, 2025, among 2,204 registered voters, shows Trump’s overall approval rebounding to 47 percent post-shutdown, his weakest issue remains inflation, where he scores just 40 percent approval.
A majority of voters (59 percent) say affordability is their top economic worry, suggesting that even perceived gains aren’t translating into confidence.
What People Are Saying
White House spokesman Kush Desai told Newsweek last week: “President Trump and every member of his Administration are clear-eyed about the fact that Americans continue to reel from the lingering effects of Joe Biden’s generational economic crisis.
“Turning the Biden economic disaster around has informed nearly every action the Trump administration has taken since Day One, from unleashing American energy to cut gas prices to signing historic drug pricing deals to cut costs for American patients.
“Much work remains, and every member of the Trump administration continues to focus on recreating the historic job, wage, and economic growth that Americans enjoyed during President Trump’s first term.”
Desai also previously told Newsweek: “President Trump inherited the worst inflation crisis in a generation from Joe Biden’s incompetence, and his Administration has rapidly cooled inflation to a 2.5 percent annualized rate. Americans can count on inflation continuing to fall and real wages continuing to rise.”
Trump said in a Truth Social post: “When will I get credit for having created, with No Inflation, perhaps the Greatest Economy in the History of our Country?…When will Polls reflect the Greatness of America at this point in time, and how bad it was just one year ago?”
Larry Reynolds, a 74-year-old Republican retiree from Wadsworth, Ohio, said: “I still back Trump’s approach in principle but believe the president’s escalating tariffs have become self-defeating…I don’t think it’ll be anything really soon. I think it’s just going to take time.”
Democratic National Committee Rapid Response Director Kendall Witmer, said in a statement to Newsweek: “Donald Trump’s train wreck of an economy is catching up to him, and it’s no wonder voters are pissed. Trump promised to ‘lower costs on Day One,’ but prices are soaring, and good-paying jobs are out of reach for everyday Americans. Trump’s plan of action so far has been to call affordability a ‘hoax’ and tell Americans not to ‘be dramatic.’ Meanwhile, working families are skipping meals, forgoing critical medical care, and depleting their savings as Trump doubles down on his disastrous economic policies. While Trump twiddles his thumbs, Democrats are working tirelessly to bring down prices and lower the cost-of-living.”
What Happens Next
Expanding discontent over the economy poses risks for Republican prospects in the 2026 midterms, opening opportunities for primary challenges and Democratic gains in key swing districts.
The White House has launched a national tour seeking to shore up public confidence, while also deploying new policy measures and messaging that target ongoing inflation and the cost of living.
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