Evaluating Tariff Policies: A Review of Donald Trump’s First Year in his Second Presidency

Abstract

In April 2025, shortly after beginning his second term, President Donald Trump announced the 2.0 tariff policy - a trade initiative building upon and strengthening his first term’s approach. The policy’s primary goals were to prioritize domestic manufacturing, reduce the trade deficit, and increase negotiation pressure on global partners. This policy quickly reshaped the global trade landscape, creating far-reaching impacts on partner economies.