Trump’s Net Approval Rate Falls to -23 as 59% Disapprove, Economist Poll Shows

• Trump’s net approval stood at negative 23%.
• Most Americans disapproved of Trump’s Iran policy.
• Inflation remained voters’ top national concern.
• Most expected prolonged U.S.-Iran conflict.

President Donald Trump’s approval rating remained deeply underwater in mid-July as persistent inflation, rising gasoline prices and renewed military operations against Iran weighed on public sentiment, according to the latest Economist/YouGov polling.

The survey showed Trump’s net approval rating at -23 percentage points, with 36% approving, 59% disapproving and 4% undecided. The reading marks a slight deterioration from the previous week and places the president well below historical averages for modern U.S. presidents at a similar stage of their terms.

Inflation Remains the Dominant Political Issue

Inflation and rising prices remain the most important issue facing American voters, with 30% of respondents identifying it as the country’s top concern. The issue ranked first among both Democrats (29%) and Republicans (32%), highlighting its broad political impact.

Trump’s net approval rating for handling inflation fell to -43, the weakest score recorded during his current term. According to the survey, rising living costs continue to outweigh improvements in other areas of the economy.

Fuel prices have become a key driver of voter dissatisfaction. The average U.S. gasoline price has increased from below $3 per gallon before the latest Iran conflict to approximately $4.48 per gallon, reflecting concerns over global energy markets following renewed tensions in the Middle East.

Iran Conflict Weighs on Foreign Policy Ratings

The survey found 59% of Americans disapprove of Trump’s handling of the conflict with Iran following renewed U.S. military strikes after a ceasefire collapsed.

Public expectations also suggest little confidence that the conflict will end quickly. According to the poll, 46% believe the war will continue for at least one month, while another 46% expect hostilities to last a year or longer.

The deteriorating outlook comes as markets remain sensitive to developments around the Strait of Hormuz, which the U.S. Energy Information Administration (EIA) estimates carried roughly 20 million barrels of petroleum liquids per day in 2024 – about 20% of global consumption. Continued instability has contributed to higher energy prices and renewed inflation concerns.

Economy and Jobs Continue to Shape Voter Priorities

Beyond inflation, the economy remains Americans’ second-largest concern, with 14% of respondents citing jobs and economic conditions as the nation’s most pressing issue.

Healthcare ranked third at 9%, followed by immigration at 8% and taxes and government spending at 7%, illustrating how economic issues continue to dominate the national political agenda ahead of the midterm elections.

The emphasis on inflation mirrors broader consumer sentiment. According to the U.S. Bureau of Labor Statistics (BLS), inflation has remained above the Federal Reserve’s long-run 2% target, while policymakers continue balancing price stability with labor market strength.

Approval Remains Divided Across Demographics

The Economist’s state-level projections show Trump’s strongest support continues to come from Republican-leaning states, while approval remains lowest across traditionally Democratic states.

Among demographic groups, white and male voters remain the president’s strongest supporters. Younger Americans, racial minorities and college-educated voters register substantially lower approval ratings, continuing voting patterns seen in recent national elections.

Notably, voters aged 65 and older, historically one of the Republican Party’s most reliable constituencies, showed comparatively weaker support than expected, suggesting some erosion within a traditionally favorable demographic.

Midterm Elections Likely to Be Driven by Economic Conditions

With Republicans preparing to defend congressional seats in the 2026 midterm elections, the polling suggests economic conditions will remain the dominant factor influencing voter behavior.

Historical data compiled by the University of California, Santa Barbara’s American Presidency Project show presidents with net negative approval ratings often see their party lose seats during midterm elections.

While foreign policy developments and geopolitical tensions continue to shape public opinion, the latest polling indicates that voters remain primarily focused on inflation, household finances and the broader economy. Whether the administration can improve public confidence will likely depend on easing price pressures, stabilizing energy markets and demonstrating tangible economic progress before Americans head to the polls later this year.