Key Takeaways
- President Donald Trump made a wide range of economic promises during his campaign and has enacted or made progress on several as his administration hits its first 100 days.
- Trump has largely enacted his promises to raise tariffs on some nations and products, while he also followed through with his plan to create a Department of Government Efficiency with Elon Musk at the helm.
- Campaign promises on tax cuts, opening federal land for housing, deportations, and oil production are still in progress.
President Donald Trump proposed aseries of economic policies during his campaign, from tariffs and tax cuts to boosting energy production. As Trump reaches his 100th day in office, here’s where he has enacted campaign promises and where he is still looking to make progress.
Tariff Hikes - Enacted
Tariffs were one of Trump’s central campaign promises, and he’s taken significant action since his inauguration. Trump has imposed a series of tariffs, some targeting U.S. trading partners likeCanada, China, and Mexico, while others focused on specific imported products like aluminum and steel.
Some of Trump’s tariff proposals go beyond what he proposed during the campaign, when he said tariffs on China could be as high as 60% and blanket tariffs on other countries could range between 10% and 20%. Trump’s tariffs on China havesurged as high as 145%, while Canada and Mexico have been hit with 25% tariffs on anything not protected under the USMCA. A series of “reciprocal tariffs” set even higher import taxes on goods from various trading partners. However, they are currently paused as countries work to negotiate trade deals with the U.S.
Trump says the tariffs are necessary to bring manufacturing back, raise revenue for the federal government, and balance trade deficits. Economists say the higher-than-expected tariffs will slow economic growth and spur inflation, potentially tipping the economy into a recession.
DOGE Committee - Enacted
One of Trump’s promises was to cut down on wasteful spending in the federal government.
To achieve that goal, Trump tasked Tesla CEO Elon Musk with heading a newly created Department of Government Efficiency that would cut spending by eliminating positions and contracts it deemed unnecessary or wasteful.
While there's still plenty of time for DOGE to make more cuts to the federal government, the organization has so far claimed $160 billion in savings, short of the goal of $1 trillion in cuts. Some have raised questions over the total and dispute whether these cuts will save money in the long run.
For his part, Musk said last week in the most recent Tesla earnings call that while he is not done with government work, he is taking a step back.
Tax Cuts - In Progress
Trump promised a range of tax cuts on the campaign trail, including renewing the 2017 Tax Cuts and Jobs Act (TCJA), which has several provisions set to expire at the end of 2025.
While Congress hasn’t yet passed legislation to renew the TCJA or add the new tax cuts, lawmakers have said it's a top priority for the legislature.
Negotiations over the bill's details are ongoing, and Treasury Secretary Scott Bessent has said the legislation is expected by July 4. Bessent said Trump’s proposals to eliminate taxes on tips, overtime, and Social Security payments would be among the administration's top priorities.
Deportations - In Progress
Trump also promised to deport as many as 11 million undocumented immigrants, arguing that the population decline would help improve the housing market, among other effects.
While Trump issued an executive order to accelerate deportations, early reports showed that they have remained at the levels of the previous administration.
However, the White House also points to sharpdeclines in border crossingsand rising instances of self-deportations to show that Trump’s immigration policy is proving effective.
Federal Land for New Housing - In Progress
Trump also pledged to address the limited housing supply in the U.S., a key factor contributing to affordability issues. During his presidential campaign, he said he would open federal land up for housing development.
In March, the Interior Department and the Department of Housing and Urban Development formed a task force to study how to open some of the federal government’s 500 million acres of land to development of residential housing. Officials said the task force will seek to find underused federal property and transfer or lease the land to state and local governments for housing purposes.
Officials haven’t laid out a timeline for action by the task force.
Increased Oil Production - In Progress
In an effort to keep a lid on prices at the pump, Trump promised an increase in oil drilling. So far, his administration has taken steps to increase the amount of crude oil produced in the U.S.
Following Trump’s declaration of a national energy emergency on his first day in office, the Interior Department announced emergency permitting plans in April that will streamline the process of setting up new oil drilling wells on public lands.
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