As former President Donald J. Trump marks his first 100 days back in office following his 2024 re-election, his administration’s economic policies—particularly tariffs and trade reform—are drawing both strong support and increasing scrutiny. At the center of the national conversation are questions about the rising cost of living, ongoing trade tensions, and whether Trump has fulfilled his campaign promises.
Campaign Promises vs. Economic Reality
During the 2024 campaign, Trump pledged to reduce the cost of living and boost U.S. self-reliance through renewed domestic energy production and aggressive trade policies. In an August 2024 campaign speech, he vowed:
“When I win, I will immediately bring prices down, starting on day one.”
— CNN Campaign Coverage, Aug. 2024
He also revived the slogan, “Drill, baby, drill,” promising to ramp up domestic oil production and cut dependency on foreign energy markets.
However, the America First Trade Policy, implemented shortly after his inauguration, introduced a wave of new tariffs on foreign goods, leading many economists to predict higher costs for U.S. consumers in the short term.
Source: CNN, [White House Trade Policy Brief, 2025]
Key Policy Changes Under Trump’s Second Term
On April 2, 2025, the Trump administration enacted a 10% universal tariff on most imports, with higher rates targeting specific countries set to take effect on July 9, 2025, unless new trade deals are reached.
Key tariffs announced:
- 25% on automobiles, steel, and aluminum
- 25% on imports from Canada and Mexico
- 145% on Chinese imports, including electronics, toys, and consumer goods
Treasury Secretary Scott Bessent described the tariffs on China as “the equivalent of an embargo,” according to Reuters.
Source: Reuters, [U.S. Department of Commerce]
Global Response: Retaliatory Measures and Diplomatic Strain
In response, China announced reciprocal tariffs of up to 125% on U.S. goods. The European Union is also preparing retaliatory trade measures.
China’s foreign ministry criticized the U.S. policy, stating it “reflects unilateralism and protectionism” and “harms global trade cooperation.” The country reiterated its firm opposition to the expansion of U.S. tariffs.
Source: BBC News, [Ministry of Foreign Affairs of the People’s Republic of China]
Rising Costs for American Families
While Trump maintains that the policy protects American jobs and promotes economic sovereignty, analysts warn that tariffs function as taxes on imports, increasing consumer prices.
A nonpartisan Congressional Budget Office (CBO) analysis projects that the average American household may face between $4,000 and $8,000 annually in added costs due to higher prices on essential goods, including clothing, electronics, automobiles, and groceries.
Source: CBO Report, April 2025, The New York Times
Trump’s Defense: “We Were Abused by Other Countries”
In his April interview with ABC News, Trump insisted that his trade strategy is a necessary correction to decades of unfair practices by other countries.
“We’ve been abused by other countries for years and years. They laughed at us. They thought we were stupid people. And we’re fixing it.”
He acknowledged that some prices might increase, but emphasized that “China probably will eat those tariffs,” suggesting that manufacturers abroad may absorb some costs to retain access to the U.S. market.
Approval Ratings: Historic Lows at 100 Days
Despite Trump’s confidence in his policy direction, polling suggests that many Americans remain unconvinced.
A joint ABC News/Washington Post/Ipsos poll shows that Trump holds a 100-day approval rating of just 38%, the lowest of any president at this milestone in modern history. Approximately 55% of respondents disapprove of his performance, citing concerns over inflation, international relations, and domestic stability.
A New York Times/Siena College poll conducted in late April found that 42% of voters approve of Trump’s job performance. Notably, the top descriptors given by respondents were “chaotic,” “divisive,” and “worrying.”
Source: Washington Post/Ipsos Poll, NYT/Siena Poll, April 2025
Trade Policy or Economic Gamble?
Trump argues that his tariff-centric trade agenda will ultimately reduce long-term reliance on foreign imports and support domestic manufacturing.
However, U.S. manufacturers and retailers have expressed concern about supply chain disruptions and increased costs. The National Retail Federation (NRF) warns that continued escalation could lead to higher prices and job cuts in retail and logistics sectors.
Source: National Retail Federation
Public Sentiment: Disillusionment and Discontent
As price increases ripple across industries, some voters are rethinking their support. In swing states such as Pennsylvania, Michigan, and Wisconsin, interviews conducted by Reuters reveal mixed reactions.
“I wanted the economy fixed, not flipped upside down,” said one voter from Erie, PA, who cast a ballot for Trump in 2024 but is now reconsidering.
When ABC’s Terry Moran raised the topic of voter regrets, Trump replied:
“Well, they did sign up for it, actually. And this is what I campaigned on.”
He continued, reinforcing his belief that these measures are part of a long-term correction.
Looking Ahead: What Comes Next?
With the July 9 tariff increase deadline approaching and no new trade agreements yet announced, economists expect the next quarter to reveal deeper insight into how these policies are impacting inflation and consumer confidence.
Meanwhile, trade negotiations with the EU, Canada, and Mexico remain ongoing, though strained by diplomatic disagreements over tariff policy.
Source: Office of the U.S. Trade Representative
Conclusion: Strong Rhetoric, Mixed Results
President Trump’s first 100 days of his second term have featured bold economic moves, focused on trade reform and reasserting American manufacturing. However, rising consumer prices, mounting global retaliation, and low public approval ratings suggest that the impact of these policies is more complex than campaign promises conveyed.
Whether Trump’s economic strategy delivers long-term benefits or deepens short-term strain remains to be seen—but the political stakes are already visible in the polls.
