As 2025 draws to a close, President Donald Trump faces a new political reality: his approval rating, once buoyed by die-hard supporters and hopes for an economic turnaround, is faltering. According to the latest NBC News Decision Desk poll, Trump’s approval rating stands at just 42%, with disapproval climbing to 58%. That’s a three-point drop since April, marking the lowest point in his first year back in the White House.
What’s striking isn’t just the numbers—it’s who’s behind the shift. The so-called “MAGA” base, the energetic coalition that powered Trump’s 2024 return, is showing signs of strain. While 70% of MAGA supporters still say they “strongly approve” of the president’s job performance, that figure has slipped 8 points since spring. Among Republicans who don’t consider themselves part of the MAGA movement, strong approval has also dropped, from 38% to 35%.
What’s fueling this erosion? The answer, pollsters and analysts agree, lies in the economy. Inflation remains the top concern for American households. As CNN chief data analyst Harry Enten recently noted, Trump’s approval on economic issues has taken a “significant hit.” What was once a narrow gap between approval and disapproval on economic performance has ballooned into a 27-point negative spread. In other words, far more Americans now disapprove of Trump’s handling of the economy than approve.
Inflation, in particular, dominates the national mood. The NBC News poll found that 44% of Americans cite inflation as their primary economic worry—dwarfing other concerns like taxes or take-home pay, which only 9% named as their top issue. Even though inflation has cooled since its pandemic-era peak, it remains stubbornly above pre-2020 levels. The year-over-year inflation rate was 3% as of September, marking the fifth consecutive month of increases. For many, that’s reason enough to feel their wallets tightening.
Trump’s efforts to shift blame—oscillating between calling affordability a “hoax” and pointing fingers at the Biden administration—have not reversed the trend. As Enten observed, “Donald Trump is trying to spin a narrative, and the American people aren’t buying the spin that’s coming out of the White House.”
Political consequences are emerging beyond Trump himself. The Republican Party’s reputation as the party of economic competence is eroding. In the lead-up to the 2022 midterms, Republicans enjoyed a 14-point advantage over Democrats on the question of who could better address rising prices. Now, Democrats hold a four-point lead on that issue. This reversal signals a broader shift in public trust—one that could have ripple effects in congressional races and beyond.
Discontent isn’t just theoretical. According to the NBC News poll, both Republican and MAGA respondents are more likely now than in August to say their personal finances have worsened over the past year. Overall, 64% of Americans believe the country is on the wrong track, up from 60% at the start of 2025. Among Republicans and MAGA supporters, that pessimism has grown even faster.
The intensity of feeling is also shifting. The share of Americans who “strongly approve” of Trump has dropped to 21%, down from 26% in April. Meanwhile, those who “strongly disapprove” have increased to 44%. The core of Trump’s base remains loyal, but even there, cracks are forming.
For Trump, the numbers present a paradox. He retains the passionate backing of most MAGA supporters, but that support is less robust than before. The challenge for his administration is clear: unless he can deliver tangible improvements on inflation and the cost of living, he risks further erosion of the coalition that brought him back to power.
Political strategists on both sides are watching closely. For Democrats, the polling suggests an opportunity—not just to challenge Trump directly, but to position themselves as the party of economic recovery. For Republicans outside the MAGA orbit, the data raises tough questions about the party’s future direction and its ability to broaden its appeal beyond a shrinking core.
Ultimately, the story of Trump’s approval rating in late 2025 is a story of expectations colliding with economic reality. Americans sent Trump back to the White House with a mandate to fix the economy. As the year ends, many feel that promise remains unfulfilled. And in politics, as in life, unmet expectations are a powerful force.
Trump’s slipping approval rating underscores a hard truth: even the most loyal political base has limits when everyday concerns like inflation and personal finances go unaddressed. The data from NBC News and CNN suggests that, for now, economic anxiety trumps partisan loyalty—and that reality could define the political landscape heading into 2026.