Public confidence in Donald Trump’s handling of the U.S. economy has weakened noticeably over the past month, as rising costs linked to the conflict with Iran weigh on households and test voter patience. A new survey by The Associated Press in partnership with NORC at the University of Chicago highlights growing unease—not only among independents, but also within the president’s own party.
The poll, conducted between April 16 and April 20, shows that only 30% of Americans approve of Trump’s economic leadership, down sharply from 38% a month earlier. Views on his handling of the Iran conflict are similarly subdued, with just 32% expressing support—unchanged from March but still reflecting a divided public.
Rising Costs Undermine Economic Promises
The drop in approval comes as many Americans feel the strain of higher living costs. Energy markets have been particularly volatile, driven in part by instability in the Strait of Hormuz, a critical route for global oil shipments. Temporary reopenings followed by renewed disruptions have contributed to sharp fluctuations in fuel prices.
Gasoline costs surged after U.S. military action earlier this year, undercutting earlier promises by the administration to bring prices down. At the same time, tariffs and broader economic uncertainty have slowed hiring and left businesses cautious, despite optimistic messaging from the White House about long-term growth.
Only about one in four Americans now approves of Trump’s handling of the cost of living, making it one of his weakest policy areas. Inflation remains a concern, with consumer prices still rising modestly compared to a year ago.
Support Softens Even Among Republicans
While Trump continues to retain a loyal base, the survey suggests cracks are emerging. Among Republicans, approval of his economic management has dropped to 62%, down from 74% in March. Independent voters are even more skeptical, with only about 20% expressing confidence in his economic leadership.
Generational divides are also apparent. Younger Republicans appear more dissatisfied with rising costs than older party members, signaling potential challenges for maintaining broad support within the party.
Still, voters aligned with the “Make America Great Again” movement remain largely supportive of Trump overall, though even within this group, enthusiasm about his handling of everyday expenses has cooled.
Americans Grow More Pessimistic
The broader outlook on the U.S. economy has darkened. Roughly three-quarters of Americans now describe economic conditions as poor, a noticeable increase from earlier in the year. Market volatility—driven by shifting signals about the Iran conflict and global energy supply—has added to the uncertainty.
For many households, the impact is tangible. Rising costs for essentials such as fuel, healthcare, and transportation are stretching budgets, particularly for middle- and lower-income families.
Political Risks Ahead
The erosion in economic confidence could carry political consequences as Trump’s party looks ahead to upcoming congressional elections. Historically, perceptions of the economy play a central role in shaping voter behavior, and declining approval ratings may complicate efforts to maintain legislative majorities.
Despite the challenges, the administration continues to emphasize its policy agenda, including tax measures and other economic initiatives. Immigration remains a relative strength for Trump, with approval on that issue holding steadier than on the economy.
A Familiar Pattern?
Trump’s current approval levels mirror some of the lowest points experienced by Joe Biden during his presidency, particularly during periods of high inflation. In Biden’s case, ratings improved somewhat as economic pressures eased—raising the question of whether a similar rebound is possible for Trump.
For now, however, the combination of geopolitical tensions, rising costs, and mixed economic signals appears to be shaping a more cautious—and in some cases, frustrated—public mood.
