Reuters/Ipsos survey suggests Americans are increasingly unhappy with Trump’s handling of the economy.

A new poll suggests that the number of people in the United States who approve of the job Donald Trump is doing as president has dropped to 39 percent as concerns grow over the state of the economy.

The poll released by Reuters/Ipsos on Tuesday indicated Trump’s approval rating is down about 2 points from 41 percent earlier this month, a decline driven partly by growing economic dissatisfaction among members of Trump’s own Republican Party.

Just 33 percent of respondents expressed approval of Trump’s handling of economic issues, the lowest level since he took office for a second time in January.

Growing affordability woes could be a serious political liability for Trump and his allies, who campaigned in 2024 on a promise to address inflation and concerns around the cost of living.

A recent Politico poll found high levels of anxiety in the US over expenses such as healthcare, groceries and housing with 55 percent of respondents assigning Trump’s policies some responsibility for increasing food prices.

The Reuters/Ipsos poll also suggested Trump’s approval rating on cost-of-living issues dropped to 27 percent from 31 percent earlier in December. Among Republicans, approval of his handling of the economy dropped to 72 percent from 78 percent.

‘Golden age’

Trump has denied rising prices are squeezing Americans, calling concerns over affordability a “hoax” being perpetrated by hostile media coverage and Democratic rivals and insisting that the US economy is in a “golden age”. In remarks last week, Trump said he was “crushing” inflation and “prices are coming down tremendously.”

Some Democrats have relished watching Trump reprise the arguments of his Democratic predecessor Joe Biden, who was criticised for insisting during his 2021-2025 presidency that Americans’ frustrations over inflation and the cost of living were being exaggerated.

While Trump’s approval rating has declined from a high of 47 percent when he first returned to the White House, his rating has remained relatively stable over the past several months with slight increases and decreases between the high 30s and low 40s.