Washington, D.C. — Four months into his second term, President Donald Trump is seeing his approval ratings slide—dragged down not by immigration or border concerns, but by voter anxiety over tariffs, inflation, and the economy.

According to a new Marquette Law School poll, Trump’s approval stands at 46%, with 54% disapproving. A Reuters/Ipsos survey places him even lower, with just 42% approving and 52% disapproving of his performance. Despite a tough-on-immigration strategy that once helped him retake the White House, economic worries are now eclipsing his border security agenda.

“When you have success on an issue, it tends to move to the back burner,” said political analyst Daron Shaw, who noted that immigration is fading from the list of top concerns—particularly for independents and Democrats.

Border bump, economic drag

Trump still enjoys relatively strong support for his handling of immigration (50%) and border security (56%), per the Marquette poll. But his April announcement of sweeping tariffs triggered a stock market sell-off, heightened recession fears, and hurt his standing on the economy—just as inflation remains a top issue for voters.

Only 37% of Americans approve of Trump’s handling of tariffs and 34% of his efforts on inflation and cost of living. A mere 39% back his overall economic policy, according to recent surveys.

“The main reason Trump won was to lower prices. Prices haven’t lowered, and polls are reflecting that,” said Republican strategist Doug Heye.

Even among conservatives, frustration is growing. “Prices haven’t come down, and it’s not clear that people will say the absence of inflation is an economic victory,” added Shaw.

Fixated on Biden, deflecting blame

Despite his return to power, Trump has not stopped targeting his predecessor. In just over three months, he has mentioned Biden an average of six times a day, blaming him for everything from high grocery prices to America’s role in the Russia-Ukraine war.

During a cabinet meeting, Trump insisted that a first-quarter GDP dip was “Biden’s fault,” denying that his own tariffs played a role. Conservative influencer Dave Portnoy, typically a Trump ally, pushed back:

"The stock market is a direct reflection of Trump’s first 100 days... This is his market, not Biden’s."

Still, Trump remains defiant. On Truth Social, he dismissed polls showing his approval under water as "fake," accusing the media and mainstream pollsters of suffering from "Trump Derangement Syndrome."

Approval flashback

Trump’s current numbers are eerily similar to his early days in 2017. Then, as now, he held underwater ratings after 100 days in office. But unlike his first term, Trump now governs with fewer internal dissenters and a more loyal cabinet, allowing him to focus on a narrative he controls.

"Biden bashing has worked for him before," said Duke University political scientist Joseph Grieco. "But it only works for so long."

Whether Trump’s base will remain patient through economic discomfort is unclear. But as his signature policies struggle to deliver relief, even diehard supporters may begin demanding more than rhetoric.

(Sources: Agence France-Presse, Fox News, NYT, Forbes)