Trump's Economic Approval Drops to 30% as Iran War Fuels Inflation

President Trump’s approval rating on the economy has fallen 8 points in a single month, as voters recoil from soaring gas prices and the ongoing war in Iran.

President Donald Trump’s job approval rating sank to a second-term low of 33% in April, driven by a sharp erosion of confidence in his economic leadership as the ongoing conflict with Iran pushes consumer prices higher.

"The decline in President Trump's approval ratings could pose challenges for the Republican Party as it seeks to retain its majority in both houses of Congress in the midterm elections," the Associated Press pointed out in its analysis of the poll.

The poll, conducted by the Associated Press and the National Opinion Research Center (NORC), found just 30% of Americans approve of Trump's economic management, a steep drop from 38% in March. The damage is most acute on cost-of-living issues, where only 23% of adults approve of his performance, with the latest Consumer Price Index showing a 3.3% annual inflation rate and a 21.2% surge in gasoline prices.

With the 2026 midterm elections approaching, the administration faces a crisis of confidence that extends beyond its base. The president's description of the war as a "small journey" has not reassured voters, and with 73% of Americans now viewing the economy as poor, the GOP's control of Congress may hinge on its ability to curb inflation and bring a swift end to the conflict.

Voters Blame War for Rising Costs

The primary driver of the negative sentiment is the economic fallout from the U.S.-Iran war, which has dragged on for more than 50 days. The conflict has directly impacted American wallets, most notably at the pump. The U.S. Department of Labor reported that energy prices surged 10.9% last month, led by a 21.2% spike in gasoline. This follows a roughly 35% jump in oil prices to around $90 a barrel since the start of military actions.

President Trump has appeared dismissive of these concerns, remarking that oil prices are still lower than the $200 per barrel he anticipated. This has not played well with the public, as the AP-NORC poll shows a stark 73% of U.S. adults now describe the national economy as "poor," and 72% believe the country is headed in the wrong direction.

Erosion Within the Republican Base

While Trump’s core MAGA supporters remain loyal, with 90% approval, the economic strain is causing cracks in the broader Republican party. Approval for Trump's handling of the cost of living is just 51% among all Republicans. The discontent is particularly strong among younger members of the party; about 60% of Republicans under 45 gave a negative assessment of his response to rising prices.

Overall, Trump's approval on the economy among Republicans has fallen to 62%, down from 74% in March. His support among independents has also cratered, now standing at just 20%. This erosion of support within his own party and among crucial independent voters presents a significant obstacle as the GOP prepares for the midterm elections. The last time a president's approval rating was this low was during the peak of inflation in 2022 under the Biden administration.

This article is for informational purposes only and does not constitute investment advice.