Trump's approval rating has hovered in the mid-to-high 30s percent range through spring 2026, reflecting steady erosion since early in his second term amid partisan polarization. Economic perceptions remain the dominant drag, with low marks for handling inflation, prices, and the broader economy tied to rising gas costs linked to the Iran conflict. Recent polling shows net approval near or below -20, with particular weakness among independents, younger voters, and some 2024 supporters. The November 2026 midterms, ongoing legislative and executive actions on trade and immigration, and any shifts in energy prices or foreign policy outcomes could further test or stabilize ratings before year-end. Trader focus centers on whether sustained economic discontent pushes readings to new lows or if baseline partisan support limits further declines.