A fresh Reuters survey released Friday indicates that nearly eight in ten Americans hold the Trump administration responsible for the escalating cost of living, a stark sign of the political peril facing the White House and congressional Republicans ahead of the midterm elections.
The poll found that 78% of respondents—including 64% of Republicans, 76% of independents, and 95% of Democrats—believe the administration bears at least some blame for higher prices. That sentiment is mirrored in the president's economic approval rating, which has tumbled to historic lows amid the ongoing conflict with Iran and the administration's aggressive tariff policies.
Trump's handling of the economy is now disapproved of by 62% of Americans, according to the survey, with 92% of Democrats and roughly a quarter of Republicans expressing dissatisfaction. The erosion of support among his own base is particularly notable, as 57% of GOP respondents said their living costs are rising faster than their paychecks under the second Trump term. Two-thirds of all respondents reported the same squeeze.
The economic fallout is being driven in part by the administration's military operations against Iran, which have disrupted oil shipments through the Strait of Hormuz and sent energy prices soaring. The average price of regular gasoline hit $4.37 a gallon on Friday, a jump of more than 40% from a year ago, according to AAA. Diesel prices have climbed to roughly $6.28 per gallon.
Those price spikes are compounding the effects of the tariffs Trump has imposed on key trading partners like Canada, a policy that has drawn criticism even from within his own party. In Michigan, a crucial battleground state, GOP Senate nominee Mike Rogers this week urged the administration to end its economic standoff with Canada "now," reflecting the anxiety of Republicans in tight races.
Political analysts say the president's sinking economic numbers could weigh heavily on the GOP's chances of retaining control of Congress in November. Several vulnerable Republicans have already begun to distance themselves from Trump's trade agenda, and the new poll underscores the depth of public discontent.
The Reuters/Ipsos survey was conducted online over six days and completed Monday, gathering responses from 4,506 U.S. adults. It carries a margin of error of 2 percentage points for the overall sample and 3 points for each party subgroup.
As the administration continues to navigate the Iran conflict and its economic consequences, the political landscape is shifting. For more on how Trump's moves are affecting his support, see his recent clash with the press over Iran remarks and the broader fault lines emerging within the administration.
