Donald Trump’s Iran War Drives Approval Decline and Economic Costs

President Donald Trump launched a military strike against Iran on 28 February 2026, sparking a two‑month conflict that shut down about 20 % of global oil exports through the Strait of Hormuz. The disruption pushed U.S. gasoline prices up more than 40 % to an average of $4.49 per gallon and added roughly $132 billion in direct costs to consumers and taxpayers, equivalent to about $750 per household. Military spending and damaged assets have driven total U.S. expenditures to between $71 billion and $113 billion, according to various trackers.

A Reuters/Ipsos poll released 23 June 2026 found only 24 % of Americans believe the war was worth its costs, while 34 % said the conflict lowered President Trump’s approval rating to a new low of 34 % in his second term. Just one‑quarter of respondents think the United States emerged stronger, and 63 % doubt that the June 17 memorandum of understanding with Iran – which reopens the Strait of Hormuz and eases sanctions – will lead to lasting peace.

The same poll showed mixed public sentiment on the deal itself: about 69 % supported a toll‑free reopening of the strait, but fewer than one‑third endorsed the overall agreement, and 81 % believed the deal is likely to collapse. The economic fallout has also erased recent wage gains for American workers, with inflation eroding real hourly wages to pre‑2025 levels.

White House press secretary Karoline Leavitt shared the poll on social media, emphasizing the “broad support” for the deal’s objectives, but critics highlighted that the majority of respondents expect the cease‑fire to fail and view the war as a strategic setback for the administration.