Why is Trump's economic approval rating declining according to the article?

Trump's economic approval rating is declining because voters are losing faith in the 'Trump economy' amid the ongoing Iran conflict in the Strait of Hormuz, persistently high gasoline prices, and rising inflation expected to exceed 4%—the highest since spring 2023—while his administration's messaging on tax refunds and domestic energy has been drowned out by his focus on unrelated issues like White House renovations and his insistence that he 'doesn't care' about the November midterms.

What do experts and officials warn will happen to Republican electoral prospects if gas prices remain high ahead of the November midterms?

Mick Mulvaney, former acting Trump chief of staff, warned that if gas prices remain 'north of $4 by Labor Day,' it means 'trouble for the incumbent party. Big trouble,' while RSM US chief economist Joseph Brusuelas stated that the war's economic drag 'will weigh heavily on household consumption among middle-class, working-class and the working poor ahead of the November congressional election,' threatening Republicans' narrow House majority and their effort to buck the typical midterm swing toward the opposition.

Trump’s Economy Polling Slides as Iran War Saps His Superpower

Jun 8, 2026

Rising gasoline prices and fertilizer supply disruptions linked to the Iran conflict are driving inflation and lowering Trump's approval ratings ahead of midterms.

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