The two major U.S. political parties show equal economic governance capabilities; the Trump administration seeks to address the pressure of living costs.

According to a new Reuters/Ipsos poll, Democrats and Republicans are tied on who is better at handling economic issues, a shift from previous months when the Republicans had an advantage on this issue.

At the same time, as Trump publicly claimed that the Republican Party is the "party of affordability" and blamed the Democrats for the problems, his administration is quietly taking steps to ease public backlash caused by rising living costs — various attempts to change the narrative are emerging. During a White House dinner this week, Trump privately sought advice from top business leaders on how to address the cost-of-living issue. One CEO said: "His team is also worried, especially about the cost-of-living issue, but they won't tell him."

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