As markets tank and the prospect of higher prices becomes more real, the future of President Donald Trump’s winning coalition might be on a precipice, too.

Trump’s tariff policy, unpopular with the American public in general, is even more unpopular among the voters who gave him the boost he needed to win the 2024 election.

They include young voters, voters of color, and independents — people who prioritized economic concerns and the price of goods enough to take a wager on a second Trump term. These voters weren’t necessarily hardcore MAGA fans — some, such as young voters, aren’t necessarily conservative ideologically, for example — but they were dissatisfied with the post-pandemic status quo and the Democratic Party’s handling of inflation. Trump and Republican candidates promised them lower prices, and these voters expected them to deliver.

As the president has focused on immigration, tearing apart the government bureaucracy, and threatening, then delaying, tariffs, these voters, like the American public in general, have said consistently that they want him to focus on lowering costs and beating inflation for good instead.

Over the last few weeks, polling has shown that voters think Trump isn’t focusing enough on their top issue: the economy.

And the data also show a clear warning sign for Trump and Republicans ahead of next year’s midterms: the non-MAGA voters that diversified and expanded their winning 2024 coalition are at risk of defecting, and throwing the future of this popular majority into uncertainty.

Trump is losing support over the economy with voters outside his base

Though he’s more popular than he was at this point in his presidency in 2017, Trump has been steadily losing support from the American public as perceptions of his economic stewardship have worsened.

Immigration policy remains his strength — just over

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