President Donald Trump and the Republican Party’s approval rating on their handling of the economy continues to decline, though Democrats are seen as only slightly better on the issue.
When asked who has a better approach to economic policy, 35% of respondents chose Democrats, compared with 31% who chose “Trump and Republicans.” Respondents were 15 percentage points more likely to say Republican policies hurt their cost of living than Democratic policies, according to the CBS News poll released Sunday.
The poll comes as the war in Iran continues to affect gas prices for consumers due to shipping disruptions through the Strait of Hormuz, and midterm elections are less than six months away. The results reflect concerns on the Right that negative perceptions of the GOP’s handling of the economy since Trump came into office may be a political liability in November.
Trump’s victory in the 2024 presidential election was driven in part by an electorate that viewed Republicans as being stronger on economic issues following record-setting inflation under the Biden administration.
But just over a quarter of respondents in the poll approve of Trump’s handling of inflation, down 19 percentage points from March 2025. Rising prices have also been linked to Trump’s tariff agenda, though the war in Iran has become the larger focus of economic concerns since it started on Feb. 28.
Almost seven in ten respondents say they are not getting a clear understanding of the situation in the Strait of Hormuz, reflecting the administration’s struggle to explain the war to the public.
The poll was conducted with a nationally representative sample of 2,064 U.S. adults between May 13 and 15, and the sample was weighted to be representative of adults nationwide based on the 2024 presidential vote and demographic data from the U.S. Census American Community Survey and Current Population Survey.
Declines in approval for the president were most notable among White Americans, with only 43% approving of the way Trump is handling his job. Just 46% of White non-college voters approve of Trump’s performance, compared to 68% in February 2025.
TRUMP DISAPPROVAL HITS NEW HIGH AS COST CONCERNS AND IRAN WAR CONTINUE: POLL
Inflation rose to 3.8% in April, the highest level since May 2023, while the national gas price sits at about $4.51. Almost two-thirds of respondents also said in the poll they believe artificial intelligence “will decrease jobs.”
The survey has a margin of error of 2.7 percentage points and was conducted in partnership with YouGov.