Trump’s job approval has hovered in the low-to-mid 30s percent range through much of 2026, with recent surveys from Reuters/Ipsos, YouGov/Economist, and others showing net ratings near or at second-term lows around -20 to -26. The Iran conflict that began earlier in the year has sustained elevated gasoline prices and broader inflation concerns, producing the weakest readings on cost-of-living and economic handling. An escalating trade dispute with Canada and softening numbers on border security and foreign policy have added further pressure. With midterm elections scheduled for November, generic-ballot polling has favored Democrats, and consumer sentiment indices remain subdued. These developments shape trader assessments of whether approval can rebound meaningfully before year-end or remains constrained by persistent economic and geopolitical headwinds.