Introduction to Trump’s Economic Record
In the first six months of President Donald Trump’s second term, one major theme has defined Trump’s economic record thus far: success that surprises the people who are paid to predict it. The president has been carrying out his promise to revamp American manufacturing and boost American jobs, mainly by imposing unprecedented tariffs on nearly every country in the world.
Economic Predictions vs. Reality
Earlier this year, Americans were told to brace their wallets for rising inflation and prepare for a recession caused by Trump’s major tariffs, especially those levied on America’s biggest trading partners, China, Canada, and Mexico. However, the latest numbers on the U.S. economy fly in the face of the naysayers, branded by Trump as "panicans." The U.S. Census Bureau reported that June retail sales were up 0.6% from May and up 3.5% from last year, with food service and drinks sales jumping 6.6% from June 2024.
Inflation and Retail Sales
According to University of Michigan surveys, American consumers expected prices to rise 6.6% this year. But so far, there’s been no sign of inflation jumping through the roof. In fact, CNN had to admit last month, "Love tariffs or hate them, there’s no denying inflation is lower now than when Trump took office." The numbers don’t lie: inflation under Trump has defied economists’ predictions in nearly every month the president has been in office.
Job Growth and Unemployment
As inflation numbers continue to look good for the Trump administration, U.S. job growth also beat expectations in May and June, while unemployment ticks down. The White House Spokesman Kush Desai said, "During his first six months in office, President Trump has repeatedly embarrassed the panicans who predicted doom and gloom, from inflation to recession. Under President Trump, Americans have seen an end to Joe Biden’s inflation crisis, multiple expectation-beating jobs reports, record tariff revenue collection, bond and stock market rallies, and historic investment commitments worth trillions that will cement America’s dominance in cutting-edge sectors."
Tariff Revenue and Investments
The United States is raking in billions of dollars in revenue from tariffs, with over $100 billion in tariff revenue since Trump took office in January. Tariff collections for the 2025 fiscal year jumped 65% from the previous year. Numerous foreign and American companies have also pledged to invest billions of dollars in the United States over the next few years, either to avoid Trump’s tariffs or to invest in the American energy and manufacturing boom that is quickly taking shape.
Conclusion
For the "experts," the rapid pace of the administration’s economic agenda has been shocking. For Trump, this was all a part of his plan. As Desai added, "The best is yet to come – as the pro-growth policies of The One Big Beautiful Bill and new trade deals kick in, America’s economic resurgence under President Trump will only accelerate." The future looks bright for the American economy, and only time will tell if the "panicans" will finally admit they were wrong about Trump’s economic policies.
