Trump’s Approval Rating Slips to New Low as Economic Anxiety Grows

A recent Reuters/Ipsos poll shows that only about one-third of Americans now approve of President Donald Trump’s performance, while roughly two-thirds disapprove. This marks the lowest approval level of his second term and ties his all-time low recorded in December 2017. The same poll indicates that a majority of respondents—across party lines—believe the economy has worsened since Trump assumed office.

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A Financial Times poll released earlier this month found that more than half of registered voters say their finances have deteriorated since January 2025, including 57 % of independents and nearly 25 % of Republicans. Inflation, after peaking at 4.2 % in May, remained above the rate at the start of Trump’s term at 3.4 % in July. Real wages have fallen as hourly pay failed to keep pace, and the labor market shed roughly 23,000 jobs in the most recent month.

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The administration’s ongoing war with Iran has amplified these pressures. The conflict, now in its sixth month, has driven oil prices higher, contributing to rising gasoline costs and broader inflation. A Reuters poll from late July found that only about a third of Americans support the war, while four-in-five expect it to continue for a long time. Just 16 % believe it will end within weeks.

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• Overall approval: ~33 % approve, 64 % disapprove (Reuters/Ipsos).

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• Economic sentiment: >53 % say they are worse off financially (Financial Times).

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• Inflation: 3.4 % in July, down from a May peak of 4.2 %.

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• Job losses: ~23,000 jobs shed in the latest month.

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• War support: ~33 % support the Iran conflict; 80 % anticipate a prolonged fight (Reuters).

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• GOP approval: 79 % of Republican voters approve of Trump, a second-term low (Economist/YouGov).

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• Enthusiasm among supporters: Strong approval dropped from 68 % to 48 % since the start of the term (Economist/YouGov).

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• Democratic voter certainty: Democrats hold a 10-point lead among voters who say they are certain to vote (Washington Post/Ipsos).

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President Trump countered the negative economic headlines by emphasizing that the stock market is “doing unbelievably” well from a Wall Street perspective, suggesting that market performance offsets broader pocket-book concerns.

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The convergence of low approval, declining enthusiasm among Republican supporters, and heightened economic anxiety creates a challenging environment for Trump’s re-election prospects. Democratic voters appear increasingly motivated, with a notable advantage among those certain to cast a ballot, potentially reshaping the partisan dynamics as the November election approaches.

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