What President Trump Has Enacted So Far and Who It Impacts

Introduction

Since returning to office on January 20, 2025, President Trump has moved quickly to reshape the U.S. economy. In just six months, his administration has rolled out sweeping tariffs and signed a major tax and spending law. These policies affect everyone from factory workers and farmers to students and retirees. Here is a breakdown of what has been enacted so far and who it impacts.

Tariffs on Imports

The biggest change has been tariffs, which are taxes on goods brought into the country. On April 2, which the President called "Liberation Day," he announced a 10% baseline tariff on imports from nearly every country, along with higher rates for many trading partners. The higher rates were paused for 90 days, and that deadline has now been pushed to August 1 as the U.S. works out trade deals. Separate tariffs also hit steel, aluminum, and cars, and tariffs on Chinese goods briefly soared before a May truce brought them down to 30%. In May, a federal trade court ruled that many of these tariffs went beyond the President's legal authority, but they remain in place while the case is appealed.

Who it impacts: Supporters say tariffs protect American manufacturing jobs and push other countries toward fairer trade deals. Critics point out that importers often pass the cost on to shoppers, which can raise prices on everyday goods. Farmers and exporters also worry about other countries hitting back with tariffs of their own.

The "One Big Beautiful Bill"

On July 4, 2025, the President signed the One Big Beautiful Bill Act, a huge law covering taxes and spending. It makes the 2017 tax cuts permanent, so tax rates that were set to rise after 2025 will stay lower. From 2025 through 2028, workers can deduct up to $25,000 in tips and up to $12,500 in overtime pay from their taxable income, with the benefit shrinking for people earning over $150,000. It also adds a $6,000 deduction for people 65 and older and creates new "Trump Accounts," which are savings accounts for children.

Who it impacts: Restaurant workers, hourly employees, and seniors could see lower tax bills. To help pay for the tax cuts, the law also reduces spending on programs like Medicaid and SNAP (food assistance) and adds work requirements for some recipients. The Congressional Budget Office estimates that millions of people could lose health coverage over the next decade and that the law will add trillions of dollars to the national debt.

Conclusion

In only six months, the Trump administration has made some of the biggest changes to trade and taxes in decades. Some groups, like tipped workers and certain manufacturers, may benefit, while others could face higher prices or reduced assistance. Many of these policies are still being negotiated or challenged in court, so the full effects will take time to show. Staying informed is the best way to understand how these changes affect you and your family!