WASHINGTON: More than half of US voters say their financial situation has deteriorated since Donald Trump returned to the White House in January 2025, according to a new Financial Times poll that reveals deepening public frustration with the president’s handling of the economy and cost of living.
The nationwide survey, conducted by London-based research firm Focaldata, found that 53.4 percent of registered voters believe they have become worse off under Trump’s leadership — a troubling sign for the administration with less than three months until November’s midterm elections.
The discontent cuts across party lines. Nearly 57 percent of independents and almost a quarter of self-identified Republicans also reported feeling worse off under the current president — a development that could prove decisive in closely contested congressional races.
Trump’s net approval rating among Republicans fell by 8 percentage points compared to the previous month, a worrying indicator for a president who has long relied on unwavering support from his base.
The poll revealed that voters now trust Democrats more than Republicans to handle inflation and the cost of living — issues that have historically favoured the GOP. Democrats also held an edge on jobs and the broader economy, signaling a potential shift in voter sentiment ahead of the midterms.
Nearly two-thirds of registered voters said they believed the economy was moving in the wrong direction, including more than two-thirds of independents and over one-third of Republicans. Only one in four voters expressed confidence that the economy was on the right track.
Overall, 55 percent of registered voters disapproved of Trump’s job performance, including nearly 20 percent of Republicans. On inflation specifically, disapproval climbed to 64 percent, with almost seven in 10 independents and roughly one-third of Republicans expressing dissatisfaction.
The findings underscore the political headwinds facing Trump and his party as public opinion sours on the president’s military engagement in Iran, which analysts say has driven up borrowing costs and inflated prices for petrol and consumer goods.
While recent inflation data showed prices rose less quickly in July — dipping to 3.4 percent thanks to lower fuel costs — inflation remains higher than when Joe Biden handed over the White House to Trump last year.
Separate figures released Friday showed consumer sentiment plunging to a near-record low as high prices forced many Americans to cut back on spending. Government data also confirmed that real wages declined last month, adding to household financial strain.
With Trump not on the ballot in November, the midterm elections are widely viewed as a referendum on his leadership. Registered voters gave Democrats a five-point lead over Republicans — 44 percent to 39 percent — when asked who they would likely support in the upcoming congressional races.
For months, opinion polls have suggested Democrats are on track to reclaim control of the House of Representatives, though winning the Senate is expected to be a tougher challenge. In response to the poll’s findings, White House spokesman Kush Desai defended the administration’s economic record.
“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,” Desai said.
The FT poll was conducted online by Focaldata, a non-partisan research company, from August 7 to August 10. It surveyed 1,913 registered voters and carries a margin of error of plus or minus 2.9 percentage points.
