Trump's approval rating has declined sharply to around 32-37 percent in recent polling averages following Republican losses in the November 2026 midterms, which delivered Democratic majorities in Congress. Persistent drags include low marks on economic stewardship and cost-of-living issues tied to tariffs, alongside foreign policy concerns from the ongoing conflict with Iran that has elevated fuel prices. These factors have produced net ratings near or below -25 points, with independents showing particular erosion. Through mid-2027, trader sentiment will likely hinge on whether inflation moderates, legislative outcomes under divided government, or diplomatic developments alter perceptions of presidential performance before the June 30 resolution date.