US President Donald Trump's approval rating has dipped slightly in recent days as concerns grow among Americans about the direction of the US economy, particularly with the new leader threatening tariffs on several countries, according to a Reuters/Ipsos poll.

The six-day poll, which ended on Tuesday, revealed that 44% of respondents approved of Trump's job as president, down from 45% in a poll conducted from January 24-26. His approval rating stood at 47% in a poll conducted on January 20-21, shortly after he returned to the White House.

Meanwhile, the share of Americans disapproving of his presidency has increased more significantly, rising to 51% in the latest poll, compared to 41% shortly after his inauguration.

Support on immigration high, economy low

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Trump continues to receive relatively high approval for his immigration policy, with 47% supporting his approach, which includes promises to intensify deportations of illegal migrants in the US. This figure remained stable from January.

However, the number of Americans who believe the economy is on the wrong track has surged to 53%, up from 43% in the January poll. Public approval of Trump’s economic handling also dropped, falling to 39% from 43%.

A key strength for Trump has been the belief that his policies will benefit the economy. His rating on economic issues still surpasses that of his predecessor, Democrat Joe Biden, who ended his term with a 34% approval rating on the economy. Nevertheless, Trump’s approval on the economy is significantly lower than the 53% he received in February 2017, during the first month of his presidency.

In the latest poll, only 32% of respondents approved of Trump's handling of inflation, which could signal early dissatisfaction with his performance on a critical economic issue after several years of rising prices, which had weakened Biden ahead of last year’s election. 

US households expect inflation

A recent report from the US Labor Department revealed that consumer prices increased by the most in nearly a year and a half in January, with Americans facing higher costs for various goods and services. Other economic data shows that US households expect inflation to rise following Trump's February 1 announcements about steep tariffs on imports from China, Mexico, and Canada.

While tariffs on Mexico and Canada have been delayed until March, Trump has set March 12 as the start date for new tariffs on imported steel and aluminum, and has instructed his staff to develop global reciprocal tariffs.

The latest Reuters/Ipsos poll also found that 54% of respondents opposed new tariffs on imported goods from other countries, while 41% supported them. Support for increasing tariffs on Chinese goods was higher, with 49% in favor and 47% against.