Visualizing Trump's First 100 Days: Inflation and Trade Wars in Numbers
Written by Lukas Wessling
An in-depth look at the economic impact of Trump's policies, focusing on inflation, tariffs, and trade wars
1. Rising Costs
Escalating Costs, Dwindling Approval Ratings: A Numerical Overview of Trump's Initial 100 Days - Escalating Costs, Dwindling Approval Ratings: Numerical Overview of Trump's Initial 100 Days
Trump's campaign promise of slashing inflation propelled him into office. As inflation peaked in the summer of 2022, it has since slowed but remains high under Trump's presidency. With prices on the rise, hopes of immediate relief have yet to be realized.
Democratic Senator Mark Kelly shares a receipt in mid-April, showcasing everyday costs: a salad, peanut butter, eggs, milk, bread, ground beef, and raisins. A minimum-wage earner in Arizona would need to work over three hours to afford this basic meal.
Eggs, in particular, have become a symbol of high prices, with a dozen once costing over $6 in some areas. Fears of shortages, stirring memories of the COVID-19 pandemic, were only barely avoided, as the White House requested European supplies just before Easter 2025.
The runaway inflation could worsen if Trump follows through on his threat of worldwide tariffs, potentially putting further upward pressure on prices across the country. In fact, according to a University of Michigan poll, Americans anticipate a 6.7% inflation rate for the coming year.
2. Tariffs and Trade Wars
Trump believes his tariff policy to be straightforward: "Treat us like we treat you." He aims to level out trade barriers erected by countries like Canada, Mexico, the EU, China, and even Cambodia against the U.S. through general price increases on their imports.
Impact on Neighboring Nations
- Canada and Mexico: Trump's tariff threats against these countries resulted in a 25% tariff on all imports, potentially threatening jobs and raising prices within the U.S. itself.
- European Union: The U.S. has primarily focused pressure on the EU, threatening tariffs on European cars, wines, and more, stating, "They're ripping us off."
Regarding European imports, a 10% tariff was initially enforced, with the EU suspending its own special tariff shortly after. However, the uncertainty surrounding tariff policies lingers.
3. Asian Superpowers
China
Johnson remains firm with China, refusing to compromise on tariffs. In just a few weeks, the two superpowers have reached a level of tariffs where China claims it is no longer economically profitable to import U.S. products into their market.
4. Emerging Markets and Special Cases
- Cambodia, a critical trading partner for the U.S., has seen Trump's tariffs reach new heights. With labor costs for a shirt in the cents range, industry experts are keeping a close eye on the potential impact on employment if tariffs on Cambodian goods resume at the end of July.
- Elon Musk's Doge department has made headlines for overstating savings due to errors in calculations and misunderstandings of government contract systems, potentially diminishing the true impact of the savings they had achieved.
5. Decrees and Disputes
Trade policy discussions frequently focus on executive orders and decrees, which allow Trump to bypass Congress and directly instruct federal agencies. The speed at which these decisions are made leads to frustration among stakeholders and uncertainty about their legality.
As of this writing, Trump has signed more than 130 decrees in the first 100 days of his second term, compared to just six in the same period under Obama. Strikingly, few pieces of legislation have been introduced during Trump's tenure compared to the number of decrees enacted.
According to U.S. Constitutional Law expert Jodi Short from UCLA San Francisco, "the government is trying to regulate much behind the scenes." The potential complications resulting from this method are substantial, as decrees can be challenged and overturned by courts or new administrations.
In summary, Donald Trump's tariff policy has contributed to higher consumer prices, strained trade relationships with key partners, and uncertainties surrounding employment and economic growth. As tariffs continue to rise, it remains unclear what the long-term effects will be on the U.S. economy.
- Donald Trump
- Trade Policy
- Inflation
- Economic impact
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Enrichment Data:
Overall: Donald Trump's tariff policy has had a notable impact on inflation and trade relations with countries including Canada, the European Union, China, and Cambodia. The policy involved imposing tariffs broadly on imports from several countries, aiming to protect U.S. industries but resulting in complex economic consequences.
Impact on Inflation
- Tariffs added roughly 2.25% to a core inflation measure over the course of a year, potentially reversing progress made against inflation since 2024[4].
- Increased input costs for manufacturers and service providers due to tariffs contributed to inflationary pressures[1].
- Federal Reserve policymakers acknowledged an increased risk that trade policy, including tariffs, could cause both higher inflation and rising unemployment[1].
- Tariffs amounted to an average tax increase of nearly $1300 per U.S. household in 2025[2].
Effects on Trade Relations and Economic Growth
- Trade relations with key partners such as Canada, the EU, China, and Cambodia suffered setbacks due to the tariff impositions. Retaliatory tariffs from these countries compounded negative effects, leading to increased trade tensions and disruptions in trade flows[3].
- The tariffs resulted in slower job growth, reduced economic output, and elevated inflation, in some cases to the point where scenarios modeling their effects in New York City showed potential recessions[3].
In summary, Donald Trump's tariff policy raised import costs, contributing to higher inflation in the U.S. The tariffs strained trade relations with key partners, leading to retaliatory measures and disruptions in trade flows. Economically, these barriers resulted in slower job growth and reduced economic output, heightening concerns about inflation, unemployment, and potential recessions[1][2][3][4].
- The European Union, in line with its policy against terrorism, has been discussing potential investments in wealth-management and personal-finance services to combat the rising costs caused by Trump's tariffs and inflation.
- As the European Union deals with the economic impact of Trump's tariffs and trade wars, it continues to engage in politics through policy-and-legislation drafts aimed at protecting its businesses and citizens from inflation and financial instability.
- On the other hand, the escalating war-and-conflicts in regions like the Middle East have been influencing the European Union's foreign policy decisions, as well as its strategic investments in finance and business.
- In the general-news media, there has been increased coverage of crime-and-justice issues, with many articles focusing on illegal activities related to the illicit financing of terrorism and money laundering as a result of the economic turmoil caused by Trump's policies.
- Financial analysts are closely monitoring the progress of Trump's policies, particularly the tariffs and trade wars, as they are closely linked to global stock markets, currency valuations, and overall business sentiment. In uncertain times like these, investors are looking for opportunities to minimize risks and maximize returns in the wealth-management and personal-finance sectors.
