A new Financial Times poll has delivered devastating news for Republicans, showing that President Donald Trump’s economic policies and the Iran war are eroding voter confidence ahead of November’s midterm elections.
The nationwide poll, conducted by research firm Focaldata from May 1-5, found that nearly 58 percent of registered voters “strongly” or “somewhat” disapprove of Trump’s handling of inflation and the cost of living—the top issue on voters’ minds heading into the midterms.
The damage extends across Trump’s signature economic agenda. Just over 50 percent disapprove of his handling of jobs and the economy overall, and a striking 55 percent said Trump’s tariffs have hurt the U.S. economy. Only about one in four voters believe his trade policies have helped the economy, according to the new poll.
As FT explains, the timing is particularly damaging for Republicans. “The war in Iran has sent petrol and other consumer prices sharply higher,” according to the FT, directly undermining Trump’s 2024 campaign promises to “curb inflation and put ‘America first.’”
Trump has claimed in recent days that gas prices are “way down,” but the reality tells a different story. The average price in the U.S. was about $4.60 a gallon last week—almost 50 percent higher than when the Iran war began in late February.
Trump’s handling of the Iran war is similarly unpopular, according to the poll. Nearly 54 percent of voters disapprove of his prosecution of the conflict, with just under one-third approving. Even among Republicans, roughly one in five expressed disapproval—a significant crack in party unity.
The Iran war, which has effectively shut down the Strait of Hormuz and created a global oil supply crunch, has “split Trump’s Maga base,” according to the FT.
Trump’s overall approval rating reflects the economic and foreign policy headwinds. Just over 54 percent of voters disapprove of his job as president, compared to just over 39 percent who approve. The damage is especially severe among independents: more than 58 percent view him unfavorably.
The White House pushed back on the troubling numbers. Kush Desai, a White House spokesperson, claimed Trump’s tax cuts, deregulation, and energy agenda would keep the country “on a solid economic trajectory,” predicting that once the Iran war’s “energy disruption” eases, Americans will see “gas prices plummet, real wages grow, inflation cool and trillions in investment continue pouring in.”
But with six months until the midterms and Republicans currently controlling both chambers of Congress, the poll suggests Democrats have a realistic path to retaking control of the House and Senate—a prospect that would dramatically reshape the final two years of Trump’s presidency.
Reacting to the news, geopolitical analyst Brandon Weichert simply stated Sunday, “They’ve sunk the party.”
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