United States President Donald Trump's approval rating has plummeted to 32 percent, marking the lowest point of his political career, according to a new Reuters/Ipsos poll. The decline comes as public and Republican support wavers over his administration's handling of the cost of living and the ongoing war with Iran.

The four-day poll, which concluded on Sunday, revealed a significant drop in support among Republicans. Only 73 percent of Republicans approved of Trump's job performance, a decrease from 82 percent in the previous week's poll. His overall approval rating stood at 35 percent just a week prior.

Trump entered office in January 2025 with promises to combat inflation and withdraw from foreign conflicts. Early in his term, a Reuters/Ipsos poll showed him with a 47 percent approval rating. However, the latest survey indicates that only 17 percent of respondents approve of his approach to the cost of living, which has emerged as the paramount issue for voters ahead of the November 3 midterm elections, where Republicans hold slim congressional majorities.

Dissatisfaction within the Republican base has been escalating since Trump initiated the war on Iran in February. This conflict has been directly linked to sharp increases in gasoline and diesel prices. For the first time, more Republicans disapprove of Trump's management of the cost of living than approve, with 51 percent expressing disapproval compared to 44 percent who approve.

President Trump stated on Wednesday that the United States is "hopefully toward the end" of its war with Iran, suggesting a potential for renewed diplomacy even as fighting persists in Yemen. However, Tehran has not officially confirmed the resumption of direct negotiations with Washington.

The Reuters/Ipsos poll was conducted online, collecting 1,277 responses from US adults nationwide. It carries a margin of error of three percentage points.

The war in Iran and its economic repercussions, particularly on fuel prices, appear to be significantly impacting public sentiment. The poll's findings suggest that the administration faces a challenging environment as it navigates these critical issues.

Further analysis of the poll data is expected to shed more light on the specific demographics and voter segments contributing to this record-low approval rating.