Let $p(\theta)$ be a real trigonometric polynomial of degree $N>0$ $$ p(\theta) = \sum_{j=-N}^N a_{|j|}e^{\text ij\theta} $$ and for any $0\le s<N$ define the left trucation of $p$ as $$ p_s(\theta):= \sum_{j=-s}^N a_{|j|}e^{\text ij\theta}. $$
Is it true that, for any $s$, $$ \|p(\theta)\|_\infty \le 1 \implies \|p_s(\theta)\|_\infty \le 1? $$ (Here the infinity norm is just the sup of the absolute value of the funtion on $[-\pi,\pi]$)
I verified by hand that it is true for $N=1$, but I am quite sure there exists a counterexample..

No, it fails for $p(\theta) = P(e^{i\theta})$ where $P(x) = 1/x^3 + 1/x^2 - 1/x + 1 - x + x^2 + x^3$ and $s=2$. Expecting it to be rarely true, I just did trial and error a few times.