Why Trump's Economic Policies Are Now Under Fire

A growing number of Republicans are blaming President Donald Trump’s policies for making the economy worse, according to a poll from the Pew Research Center released on Thursday.

Trump campaigned on bringing prices down as the country grappled with a high inflation rate in the wake of the COVID-19 pandemic, and his focus on cost-of-living issues helped carry him to victory in key swing states against former Vice President Kamala Harris in the 2024 election. But 1 1/2 years into his second term—and as the midterm elections approach—most Americans are still unhappy with the state of the economy, recent polling shows.

Economists point to policies like tariffs and the Iran war as putting pressure on the economy.

Notably, the poll comes as gas prices have begun to rise once again amid renewed fighting in the Middle East. Disruptions to the Strait of Hormuz, a critical passageway for oil, caused prices to soar since the United States and Israel launched strikes against Iran in February. Gas prices were $4.091 nationally on Thursday, according to AAA.

The new poll found that more Republican voters say Trump’s policies have had a worsening effect on the economy, though most of the president's conservative voter base still supports him.

Democrats have sought to make economic concerns central to their campaigns ahead of the midterms, as polls show that many voters point to the economy as their top issue for November.

White House spokesperson Taylor Rogers previously told Newsweek that Trump “remains committed to unleashing American energy dominance, cutting costs, and putting more money back in the pockets of hardworking American families.”

Newsweek reached out to the White House for comment via email.

Republicans Grow More Wary of Economy, But Most Still Approve of Trump

The poll found that 28 percent of Republican voters said they believe Trump’s economic policies have made economic conditions worse in the United States. That’s up from 18 percent in January 2026 and September 2025, according to Pew.

Overall, 60 percent of respondents blamed Trump’s policies for making the economy worse in the poll.

Just 24 percent of all voters—including 10 percent of Democrats and 41 percent of Republicans—described the economy as “excellent” or "good” in the poll. The last time a majority of respondents told Pew they believed the economy was in good condition was January 2020, before the COVID-19 pandemic prompted lockdowns and a global economic slowdown.

Meanwhile, 19 percent of Republicans said they believe the economy will be worse in one year, an increase from 14 percent in January 2026, when that number was 14 percent, but the same amount as in September 2025.

Despite these economic concerns, most Republicans remain firmly supportive of Trump—69 percent said they approve of his job performance, compared to 29 percent who disapproved of him, according to the poll. Among those who identified as a conservative Republican, his net approval rating stood at +54 points.

Economy Is Major Midterm Issue

Other polls show the economy will be a major issue that voters are thinking about when they head to the polls in November. A poll from The Economist and YouGov found that 32 percent of Americans named inflation and prices as their top issue, while an additional 14 percent said jobs and the economy were their top issue and 10 percent said it was healthcare.

In that poll, only 21 percent said the economy was excellent or good, compared to 75 percent who said it was in fair or poor condition.

The poll surveyed 1,602 adults from July 17-20 and had a margin of error of plus or minus 3.3 percentage points.

Democrats have emphasized the economy in their messaging ahead of this November’s elections.

“As I’ve spoken with North Carolinians across the state, folks have been open about their struggles. Rising grocery prices, surprise billing from a doctor’s visit, expensive child care. These struggles and the people affected by them are why I’m running for the US Senate,” Roy Cooper, the former Democratic governor of North Carolina who is now running for Senate, wrote in a Wednesday post on X.

The White House has sought to highlight economic achievements.

“This was the biggest tax refund season in American history, with the average refund exceeding $3,400, an 11 percent increase over the past year. American families and workers claimed $82 billion in direct tax relief, and 97 percent of filers received a tax cut,” White House Press Secretary Karoline Leavitt said during a briefing on Thursday.

A Fox News poll found that Democrats hold their strongest lead over Republicans since 2006 among registered voters regarding their trust in handling the economy. When asked "Which political party -- the Democrats or the Republicans -- do you think would do a better job" on the economy, Democrats landed 54 percent compared to 45 percent saying Republicans, marking a 9-point net advantage for Democrats. In April, Democrats had 52 percent compared to Republicans' 48 percent.

The last time Democrats had a net positive of 9 points or more was 20 years ago, in a July 2006 poll, the survey shows.

Trump Unveils New Tariffs

New tariffs have gone into effect this week, including 50 percent tariffs on goods imported from Canada and 25 percent tariffs on goods imported from Canada.

Tariffs have become a cornerstone of Trump’s economic policy, as the president touts them as necessary to restore domestic manufacturing jobs and close the trade deficit with other countries. Critics, however, have lambasted the tariffs as a policy that would result in higher prices for American consumers.

On Thursday, Trade Representative Jamieson Greer announced that the administration would impose new tariffs on 60 countries “for their failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labor.”

“President Trump recognizes that decades of moral suasion have not eradicated forced labor from global supply chains. The United States has had a forced labor import ban for nearly a century, and rigorously enforces it; it’s well past time for our trading partners to do the same,” Greer wrote in a statement.

Trump Approval Rating: Latest Polls

Recent polling shows that Trump’s approval has fallen since returning to the White House. Here is a look at some of them: