Trump’s approval ratings in his second term have trended downward through mid-2026, hovering in the mid-to-high 30s percent in recent national surveys amid persistent voter concerns over inflation, the cost of living, and economic management. A June 14 announcement of a deal ending the four-month conflict with Iran and reopening the Strait of Hormuz produced a modest rebound in net approval. Midterm elections scheduled for November 2026, ongoing economic data releases, and any further diplomatic or legislative developments remain key variables that could influence whether ratings recover or remain suppressed through year-end. Trader consensus reflects these near-term pressures and the historical difficulty of sustained gains for second-term presidents facing divided public sentiment on core pocketbook issues.