Here are some of President Donald Trump’s main economic initiatives and their present status as he gets ready to mark the 100th day of his current term in office.
Trump’s 2024 presidential campaign, his tenure as president-elect, and his first few months in office are the sources of these proposals. While other plans target immigration, income taxes, the corporate tax rate, electric vehicles, cryptocurrencies, and a popular social media platform, his tariff schemes target a wide range of imported goods.
Two tables that follow Trump’s activities are included below. Trump is in his second term as president, having served the previous one from 2017 to 2020. His levies on U.S. imports are the subject of one table, while other suggestions are the subject of the second. On Wednesday, Trump 2.0 will reach the 100-day milestone.
Trump’s tariffs
Proposed action Status
Tariffs of around A tariff rate of 145%
Tariffs of 25% on Canadian and Mexican goods A 25% tariff is in effect, with exemptions for USMCA-compliant goods (meaning an estimated
Universal tariffs of Besides China, Canada and Mexico, other nations around the world face a 10% tariff following a
Tariffs targeting Tariffs of 25% are in effect for Analysts evaluating Trump’s first months in office say his more daring tariff policies stand out in particular, and they have raised fresh expectations for investors after significant declines in the dollar DXY and stock SPX.
“We can live with a 10% baseline tariff if you just tell us that’s all it’s going to be,” stated Stephen Myrow, managing partner of Beacon Policy Advisors, “instead of believing that a 5% to 10% baseline tariff could cause a recession.”
“The extent to which Trump’s administration would impose its taxes on imports in an effort to boost domestic manufacturing was not appreciated by investors and others who had assumed that Trump would primarily use tariffs to gain leverage in negotiations with other countries,” Myrow said.
“Some of it is leverage, but some of it is [that] if you want to reshore your manufacturing, you can’t threaten the tariffs – you need the tariffs actually, to force people to follow through,” Myrow, who had worked in the administration of President George W. Bush, stated.
The tariffs, which are generally thought to increase costs, don’t seem to be in line with Trump’s main campaign pledge to stop ongoing inflation.
Although it’s early, the majority of economists—liberal, conservative, Democratic, and Republican—believe he is implementing policies that would cause inflation. Therefore, I believe that he is somewhat moving away from that commitment,” Sarah Bianchi, a senior managing director and strategist at Evercore ISI, stated.
Trump’s policies on taxes, inflation, and other issues
Investors, taxpayers, companies and others have been anticipating that Trump will deliver some type of extension of his 2017 tax cuts, along with new tax breaks, but that still looks months away.
“By any fair measure, you wouldn’t have expected that to be enacted by now. These things typically take the better part of a year to get done, even after an election,” said Evercore’s Bianchi, whose experience includes serving in the Biden administration.
“I think it’s unlikely they will deliver on every single tax thing he said on the campaign, but that’s not unusual for a president,” she added.
About 52% of Americans don’t approve of Trump’s performance as president, while 46% do, according to a RealClearPolitics average of job-approval polls. That’s a shift from late January, or shortly after his inauguration, when only 44% expressed disapproval and 51% said they approved of his performance.
Trump’s numbers are dropping in part because many Americans voted for him thinking he could get inflation down and help the economy, according to Bianchi. “They didn’t think he really meant it on tariffs,” she noted.
