Donald Trump’s Second Term: Six Months in Six Charts

It has been six months since Donald Trump began his second term as President of the United States. During this time, his administration has enacted sweeping changes that have dramatically altered domestic and international policy landscapes. From aggressive trade maneuvers and mass deportation strategies to historic tax legislation and unprecedented government downsizing, Trump’s presidency has once again redefined executive power in the modern era. The following provides an overview of key developments using six data-backed insights:

1. Markets and Currency Volatility

U.S. financial markets have experienced extreme fluctuations. In April, stock markets suffered their largest single-day drop in nearly five years after President Trump introduced sweeping new tariffs, dubbing it “Liberation Day.” However, markets quickly rebounded as implementation of these tariffs was delayed, fueling the viral acronym “TACO” — Trump Always Chickens Out.

Despite this market recovery, the U.S. dollar is experiencing its weakest performance since 1973. Economists warn that the administration’s economic policies, including Trump’s public criticism of the Federal Reserve, are undermining global confidence in the dollar as a safe-haven asset.

2. Immigration Enforcement Surge

Trump’s administration has launched an aggressive immigration enforcement campaign. According to the Deportation Data Project at UC Berkeley Law School, ICE arrests nearly doubled year-over-year following Trump’s inauguration. While the 2024 campaign promised to prioritize the removal of immigrants with criminal convictions, data reveals a large share of recent arrests involve individuals without prior records.

Daily arrests exceeded 1,400 on multiple occasions in June — nearly three times the highest daily figure under former President Joe Biden.

3. Tariff Escalation and Revenue Spike

The Trump administration has significantly raised the effective U.S. tariff rate, which now stands at 8.8%, up from 2% at the beginning of the year. These measures have generated an additional $47 billion in revenue compared to the same period last year, with a record $64 billion collected in Q2 alone — much of it from 30% tariffs on Chinese imports.

Should Trump proceed with planned tariffs on the EU and Mexico, the average effective rate could reach 20.6%, the highest level since 1910, according to Yale’s Budget Lab.

4. Executive Orders at Record Pace

In his first six months, Trump issued 170 executive orders, averaging nearly one per day — the highest rate in modern history. These directives have covered a wide range of policy changes, including:

• Implementing tariffs under “Liberation Day”

• Challenging birthright citizenship

• Targeting legal institutions

• Curtailing judicial oversight

This reliance on executive action underscores Trump’s intention to bypass traditional legislative processes and centralize authority within the executive branch.

5. Flagship Legislation: ‘One Big Beautiful Bill’

On July 4, Trump signed into law his major tax and spending reform bill, the One Big Beautiful Bill Act, which narrowly passed both chambers of Congress. The legislation includes:

• Expansive tax cuts, especially benefiting higher-income brackets

• Deep funding cuts to Medicaid, potentially leaving nearly 11 million Americans without health coverage by 2034 (CBO estimate)

• A $170 billion allocation to border security, including:

  • $45 billion for increased ICE detention capacity

  • $30 billion for hiring new immigration personnel

6. Federal Government Downsizing

The Trump administration’s campaign to reduce the size of the federal government has been led by the Department of Government Efficiency (Doge), headed by tech entrepreneur Elon Musk until May.

Key actions include:

• The dismantling of USAID, the Consumer Financial Protection Bureau, and Voice of America

• Major workforce reductions at the CDC, FDA, and NIH

• Over 67,000 federal employees laid off as of mid-July

A report in The Lancet warned that these funding and staffing cuts could lead to 14 million additional deaths by 2030, including 4.5 million children. On July 15, the U.S. Supreme Court upheld the administration’s authority to terminate 1,400 employees at the Department of Education.

In a forceful dissent, Justice Sonia Sotomayor wrote:

“The majority is either willfully blind to the implications of its ruling or naive, but either way the threat to our Constitution’s separation of powers is grave.”

Conclusion

President Trump’s second term has been marked by rapid executive action, bold policy shifts, and heightened polarization. Whether these strategies will lead to long-term reform or further institutional strain remains to be seen — but the first six months have already left a profound imprint on the U.S. and the world.