The White House released the 2026 Economic Report of the President on Monday, presenting the administration’s trade and tax agenda as a success story. Public opinion polling tells a different story.
Why it matters: The gap between the administration’s economic claims and voter sentiment shapes the political landscape heading into the 2026 midterm elections. Whether the trade deals translate into lower consumer prices will determine which narrative prevails.
The report’s claims
The Council of Economic Advisers said the administration’s trade policy has begun to “yield tangible results.” The report highlights agreements with the European Union, Japan, Taiwan, the United Kingdom, South Korea, and India.
According to the report, the monthly goods trade deficit fell from above $100 billion in 2024 to below $90 billion in recent months. Imports from China dropped by more than $97 billion in 2025.
The administration framed these figures as evidence that American economic dependence on potential adversaries “is no longer necessary.”
The counter-evidence
A CNN poll released earlier this month found that 65% of Americans say Trump’s policies have made the economy worse, the highest figure of his presidency. Roughly three quarters of respondents said the economy is in poor shape, an eight-point increase since January.
Critics argue that reduced imports from China have not lowered prices for consumers. The war in Iran and the Hormuz blockade have pushed energy costs sharply higher, compounding household financial pressure.
What happens next
The report lands as Congress debates tax legislation the administration considers central to its economic agenda. Midterm candidates in both parties will use these competing economic narratives to frame their campaigns through November.