A new poll shows that more Americans now trust Democrats over Republicans when it comes to handling the economy. This shift marks the first time since May 2021 that the GOP has fallen behind on this key issue, according to a Morning Consult survey conducted from April 11 to April 13 among 2,203 registered voters nationwide.
The change comes at a critical time, as President Donald Trump just under 100 days into his second term faces mounting criticism over his economic policies. Global markets have been rattled by his sweeping tariff agenda, and the cost of consumer goods continues to climb. Although Trump has rolled back reciprocal tariffs exceeding 10 percent on most countries, he has raised tariffs on Chinese imports to an eye-popping 145 percent. His administration has also sent conflicting signals about whether certain sectors, like semiconductors, will be spared.
Back in January, Republicans held an 11-point advantage over Democrats when voters were asked which party they trusted more on the economy. But that edge has evaporated. Now, 46 percent of voters say they trust Democrats, while 43 percent favor Republicans. Eleven percent say they’re unsure. The last time Democrats led on this issue was during President Biden’s administration in mid-2021.
The recent decline in trust appears closely tied to the economic fallout from Trump’s tariff policies, as well as a Republican budget proposal that would grow the national deficit to $4.5 trillion by 2035 while slashing support for programs like Medicaid and food assistance.
Colin Seeberger of the Center for American Progress Action Fund explained that voters are reacting to what he called “MAGA-nomics” economic policies that effectively act as tax increases on working families. According to CAP’s analysis, the average household could end up paying an additional $4,600 annually due to Trump’s tariffs.
Seeberger noted that many families are already struggling with rising costs, and Trump’s unpredictable economic strategies are compounding their challenges. He added that Democrats must do a better job clearly explaining how these policies are hurting working people and small businesses, particularly as they try to hold onto their polling advantage.
The poll also highlights a messaging gap between the parties. Republicans often benefit from a clearer, more consistent economic narrative centered around tax cuts and deregulation, while Democratic economic messaging tends to be viewed as more diffuse.
Interestingly, the poll shows that while voters trust Democrats more broadly on economic issues, Republicans still hold a narrow advantage when it comes to managing the national debt. In terms of Trump’s personal performance, 45 percent of respondents approve of how he’s handling the economy, while 48 percent disapprove putting his net approval at negative 10 points, down from a positive 3 just days after his inauguration in January.
When asked whether Trump is prioritizing the issues they care most about, voters expressed disappointment. While 71 percent said lowering the cost of living should be a top focus, only 46 percent believe Trump is actually doing so. Similarly, although 67 percent said the president should prioritize healthcare affordability, just 43 percent believe he’s making that a priority.
Critics from both sides of the aisle have been vocal. Senator Rand Paul argued that tariffs are essentially taxes that hurt American consumers. Senator Patty Murray warned that Trump is dismantling an economy he inherited in strong condition. And author Stephen King likened Trump’s economic missteps to scoring a goal against his own team.
As Seeberger put it, Americans are growing increasingly hostile to the Trump-era economic strategy. Higher prices, more expensive borrowing, and an uncertain job market are all weighing heavily on the public’s perception of Trump’s leadership placing Republicans in a more vulnerable position heading into the next round of elections.5e
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