President Donald Trump currently has his lowest economic approval rating for either of his two non-consecutive terms in office, according to the latest Yahoo/YouGov poll.

The survey, which polled 1,770 U.S. adults between October 23 and October 27, showed that 60% of respondents disapproved of how Trump was handling the economy, with only 33% approving. The president had previously averaged a 49% economic approval rating and 45% disapproval rating during the height of the COVID-19 crash in the middle of 2020.

The survey was conducted amid the weekslong U.S. government shutdown and immediately followed Trump's announcement that "all trade negotiations with Canada are hereby terminated" after claiming the country had "fraudulently used an advertisement" showing late former President Ronald Reagan bashing tariffs.

The government shut down, which began on October 1 after congressional Republicans and Democrats failed to agree on a funding legislation, is estimated to potentially cost the U.S. economy between $7 billion and $14 billion, according to Reuters.

Trump was previously reported to have a -13 net approval rating for his handling of the U.S. economy, which was the lowest of any point during his two separate terms in office, according to the CNBC All-America Economic Survey conducted earlier this month. The president's approval rating on the economy is reported to be at 42%, while 55% of respondents disapprove, while the survey also reported his overall approval rating dropped from 46% to 44%, with a net approval of -8%.

Trump's economic numbers were typically one of the stronger issues of his first administration, with positive percentages that were routinely above his overall polling. But recent polls have shown a drastic change with just 34% approving his policies on inflation and the cost of living, which is the worst percentage of the three CNBC surveys conducted during his second term, as well as 56% disapproving his tariff policies, which equaled a -15 net approval compared with the -6 in the second-quarter survey.

Mitchell In The Morning