Trump Faces Growing Economic Unease as Approval Ratings Drop Below 40%

A Reuters/Ipsos poll found only 31% of Americans approve of President Donald Trump’s handling of the cost of living, with 54% disapproving, as new tariffs on imports take effect. Conducted days before Trump’s congressional address, the survey shows his overall approval steady at 44%, higher than predecessor Joe Biden’s late term ratings, but highlights growing economic unease.

Trump’s 25% tariffs on Mexican and Canadian goods and 20% levies on Chinese products, intended to reshape trade ties, are expected to increase inflation. While 31% support tariffs even if prices rise, economists warn this could strain households already facing stagnant wages. Recent data showed consumer spending dropping sharply when adjusted for inflation.

The poll reflects split opinions on Trump’s foreign policy shifts. Seventy percent of respondents, including majorities in both parties, blame Russia over Ukraine for starting the war. Yet 46% back Trump’s proposal to tie U.S. aid to access to Ukraine’s mineral resources, a plan he may soon announce. His warmer ties with Moscow, including paused military aid to Kyiv, have drawn ally criticism.

Domestically, Trump’s federal workforce overhaul with Elon Musk has mixed support. While 59% approve of downsizing government, only 40% support mass layoffs of civil servants, with 57% opposed. Half of respondents, including one in five Republicans, say Trump’s cuts go “too far.”

The poll underscores challenges for Trump as tariffs impact prices and inflation persists. With 70% prioritizing cost of living relief, balancing economic promises with polarizing policies may shape his political future. The survey of 1,174 adults has a 3 point margin of error.