Recent polls show President Trump's approval rating hovering near 33-38 percent in August 2026, down from an early-second-term high near 47 percent and reflecting steady erosion since mid-2025. The resumption of U.S. strikes on Iran in July triggered fresh cycles of escalation and economic disruption, including higher fuel costs and inflation pressures that have weighed on voter assessments of foreign policy and the economy. Partisan gaps remain wide, with Republican support softening in some surveys while Democratic disapproval stays near-universal. Midterm elections scheduled for November 2026 represent the next major test of public sentiment, alongside any shifts in trade, border, or domestic policy outcomes that could influence polling averages. Trader pricing in the market reflects this trajectory of recent lows and limited rebound catalysts through year-end.