Kamala Harris is more trustworthy than Donald Trump on the US economy

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Americans are more likely to trust Kamala Harris to manage the U.S. economy than they are to trust Donald Trump, a new poll finds, marking a dramatic shift in voter sentiment after President Joe Biden dropped out of the race for the White House.

The survey, conducted for the Financial Times and the University of Michigan's Ross School of Business, is the first monthly poll to show the Democratic presidential nominee ahead of Trump on the economy since it began tracking voter sentiment on the issue nearly a year ago.

Forty-two percent of voters said they trust Harris more to handle the economy, compared with 41 percent who said they trust Trump. While Trump’s numbers were unchanged from last month, Harris’ standing represents a 7 percentage point improvement over Biden’s numbers in July.

The fact that voters were more positive about Harris than Biden … says as much about Biden's poor performance as it does about Harris's good performance, said Erik Gordon, a professor at the university.

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Despite strong U.S. growth and jobs numbers, Biden struggled to convince voters that his economic policies were good for them, a trend that continued after he withdrew from the presidential campaign.

Americans still overwhelmingly cite inflation as their biggest concern heading into the November election, and the survey shows that just 19% of voters believe they are better off today than they were when Biden took office in 2021.

But the new FT-Michigan Ross poll also shows that Harris may be able to distance herself from Biden on economic issues. Fully 60% of respondents said she should either break completely with the president’s economic policies or make major changes to his agenda.

Harris also enjoyed a significantly higher approval rating than Biden, with 46% of registered voters saying they approved of the job she was doing as vice president, compared to 41% who said they approved of the job the president was doing.

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However, the survey also showed that underlying economic malaise among the electorate could still benefit Trump, who in a nationally televised news conference Thursday continued to criticize the Biden administration for its record on inflation.

Only one in four registered voters rated the economy as excellent or good, and 42% said they would be much better off or somewhat better off if Trump won four more years in the White House. Only 33% said they would be much better off or somewhat better off under Harris.

Gordon said: “The poll is good news for previously anxious Democrats, but their concerns are not over because voters still feel better off with Trump as president, and most voters think of their own interests first and big policy issues second.”

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Trump also fares better than Harris in polls on some specific economic issues, including trade, where 43% of voters said they trust him more to handle economic relations with China, compared to just 39% who support the vice president.

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Trump has long advocated a protectionist trade policy with Beijing and has threatened to raise tariffs on cars and other consumer goods imports if he remains in the White House for four years.

Representatives for Harris and Trump's campaigns did not respond to requests for comment.

The FT-Michigan Ross Poll was conducted online by Democratic strategists Global Strategy Group and Republican pollster North Star Opinion Research from August 1 to 5. It reflects the opinions of 1,001 registered voters and has a margin of error of plus or minus 3.1 percentage points.

Join US financial commentator Robert Armstrong and his colleagues from Tokyo to London for a subscriber-only webinar on 14 August (12:00 BST/07:00 EST) to discuss the recent trade turbulence and where markets are headed. Register here to get your subscriber pass at ft.com/marketswebina and ask our panel your questions now.

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