Trump Approval Rating Falls to Record Low as Economy Sours Voters

Donald Trump’s approval rating has fallen to 33%, its lowest level in the FT’s polling series, as dissatisfaction over the economy and cost of living deepens less than two months before the November midterm elections.

The nationwide Focaldata survey showed approval of the U.S. president down three points from the previous month.

Among Republican voters, support slipped by more than two points to 72%, also a record low for the poll.

Economic Sentiment Weakens

Nearly two-thirds of registered voters said the economy was moving in the wrong direction, while 57% said they were financially worse off under Trump, according to the Financial Times.

That was up from 53% a month earlier.

Trump’s standing on economic management also weakened sharply within his own party. Just 53% of Republicans approved of his handling of jobs and the economy, down almost eight points.

The deterioration comes as the war in Iran has pushed up U.S. borrowing costs and prices for fuel and consumer goods.

Diesel prices reached a record $5.85 a gallon on Friday, according to AAA, raising the risk of further inflation through transport, agriculture and industry.

Tariff Backlash Grows

Trump’s trade policy is also drawing resistance.

Fifty-six percent of registered voters said they disapproved of his decision to impose a 50% tariff on about $20 billion of Canadian goods.

Opposition included more than 60% of independents and almost one-third of Republicans.

Ottawa responded with tariffs of up to 50% on U.S. imports, escalating the dispute and raising concerns about consumer prices.

Midterm Risks Mount

The polling presents a problem for Republicans as they seek to retain control of the House and Senate.

Trump has placed himself at the center of the campaign, with the Republican National Committee due to hold a two-day midterm convention in Dallas this week headlined by the president.

But 46% of voters said Trump was making it harder for Republican congressional candidates to win, including more than half of independents.

Among independents, 47% said a Trump endorsement would make them less likely to support a candidate.

Democrats held a 7.5-point lead over Republicans when voters were asked which party they expected to support, up from five points the previous month.

Republican candidates in battleground districts have urged MAGA Inc, the Super PAC that supported Trump’s presidential campaign, to deploy its $400 million war chest in congressional races.

MAGA Inc said on Saturday it was spending $10 million on advertising for Texas Republican Senate candidate Ken Paxton against Democrat James Talarico.

The White House defended Trump’s economic program.

“Although President Trump has always been clear about temporary disruptions as a result of Operation Epic Fury, the administration remains committed to implementing a proven economic agenda of tax cuts, deregulation and energy abundance,” a spokesman said.

Focaldata conducted the poll online from August 28 to September 1 among 1,914 registered voters. It has a margin of error of plus or minus 2.6 percentage points.