US President Donald Trump’s approval rating has dropped to its lowest level yet, according to a new Financial Times poll, reflecting growing voter dissatisfaction with his handling of the economy and the rising cost of living.
The survey comes less than two months before the November midterm elections and paints a worrying picture for Trump. The nationwide poll by Focaldata, a London-based research company, found that only 33 per cent of registered voters approved of his performance as President, the lowest level recorded since the FT began tracking the measure in May and three percentage points lower than in the previous survey.
Support among Republican voters also weakened. Trump’s approval rating within his party fell by more than two percentage points to 72 per cent, the lowest level recorded in the FT’s polling.
It is a clear indicator of voters’ disgruntlement over the economy and the cost of living, with most of those polled rejecting Trump’s tariffs and trade policy.
No end to war, borrowing costs higher
The survey also comes at a time when the President has failed to end the Iran war, which has led to a rise in US borrowing costs and prices for fuel and consumer goods over the past six months.
For instance, the FT report says that on Friday, the US price of diesel was at an all-time high of $5.85 a gallon, according to the AAA motoring group.
The economy was headed in the wrong direction, almost two-thirds of registered voters said, while 57 per cent said they were financially worse off under this presidency. The figure was four percentage points higher than last month, when 53 per cent of voters said they were worse off.
Of the Republican voters, only 53 per cent said they approved of the president’s handling of jobs and the economy, a nearly eight-point drop from the previous month.
Among those disapproving of Trump’s 50 per cent tariff on Canadian goods were 56 per cent of registered voters, including more than 60 per cent of independents and about one-third of Republicans. The move only escalated the trade war as Canada slapped retaliatory tariffs of up to 50 per cent on US imports.
Trump’s backing could push voters towards rivals
The report noted that Trump has placed himself at the centre of the Republican campaign ahead of the midterm elections. The Republican National Committee is set to hold an unprecedented two-day midterm convention in Dallas, Texas, next week, with the president headlining the event in a bid to rally voter support.
However, the FT poll shows that this may backfire for Trump, as 46 per cent of voters, including more than half of independents, said the President was making it harder for Republican congressional candidates to win in November.
As many as 47 per cent of independents said Trump’s endorsement would make them less likely to support a candidate.
