This article is sponsored by the American Petroleum Institute.
President Trump is now more than halfway through the first 100 days of his second term and his administration has maintained a torrid pace of policy changes and sweeping cuts to the federal workforce.
His swift implementation of tariffs has also rattled longtime U.S. allies, as well as Wall Street.
But the president said he is committed to staying the course on tariffs, arguing that the U.S. has been treated unfairly in trade.
Among the tariffs the president has imposed since returning to office on Jan. 20:
- Feb. 1 Signs executive order imposing 25 percent tariffs on nearly all goods from Canada and Mexico, as well as an additional 10 percent tariff on China. Two days later he agreed to a 30-day pause of the tariffs on Mexico and Canada
- Feb. 10 Brings back 25 percent tariff on aluminum and foreign steel
- Feb. 13 Announces plan for reciprocal tariffs to go into effect against U.S. trading partners on April 2
- March 4 Tariffs on imports from Canada, Mexico and China go into effect. Canada responds with tariffs of 25 percent on many American goods
- March 6 President Trump suspends tariffs on Canada and Mexico
The European Union and Canada have recently announced billions of dollars in retaliatory tariffs, with the EU planning to implement them on April1.
Trump has indicated he is ready to in turn impose a 200 percent tariff on wine and alcohol products from EU nations, including Champagne.
The markets overall have not reacted favorably to the president’s tariff policies.
The S&P 500 is down considerably, off to its worst start for a new presidential term since 2009, when President Barack Obama was in the White House during the global financial crisis.
In the midst of the market rollercoaster, Trump has said “There could be some disturbance, a little bit of disturbance.”
DOGE expands cuts
The administration, Elon Musk and the Department of Government Efficiency (DOGE) have pressed ahead with unprecedented cuts to the federal workforce.
One of the latest targets has been the U.S. Department of Education.
More than 1,300 workers at the agency recently lost their jobs and nearly 600 others chose to resign or retire.
The workforce of the Education Department, which has long been targeted for elimination by Republicans, is essentially being cut in half.
The largest cuts are expected at the Veterans Affairs Department, which has plans to cut 80,000 people.
Congressional Democrats have criticized the plan, arguing it disproportionately hurts the nation’s military veterans.
But the administration and Republicans say the cuts are justified and seek to get overall employment at the agency closer to what it was about five years ago.
DOGE is also looking to cut the workforce at the IRS by nearly 20 percent by mid-May.
The Social Security Administration plans to cut close to 7,000 workers, which would include those who retire or resign.
Many of the DOGE reductions are now being battled out in the courts.
Federal judges recently ordered federal agencies to rehire tens of thousands of probationary employees at various agencies.
Government shutdown averted by Congress
Congress avoided a government shutdown, after Senate Minority Leader Chuck Schumer decided to support advancing a GOP continuing resolution backed by Trump and the Senate gave it final approval before a March 14 midnight deadline.
“A shutdown would allow DOGE to shift into overdrive,” said Schumer.
Trump, who is no fan of the Democratic leader, praised Schumer for his decision, saying it took “guts and courage.”
The president treated this shutdown showdown very differently than he did in his first term, when he forced a shutdown over a dispute related to building the border wall.
Congressional Republicans now plan to focus their efforts on advancing the president’s legislative agenda, which Trump and the GOP has referred to as “one big, beautiful bill.”
The House and Senate are trying to get on the same page to pass a House GOP budget reconciliation measure, which will have to undergo changes to get Senate approval.
One of the most contentious issues is expected to be how to address cuts to Medicaid.
The House directed the Energy and Commerce Committee to cut $880 billion, which may need to target Medicaid, though many lawmakers and Trump are leery of going after a program that is relied upon by more than 70 million Americans.
Also expected to be taken up in the coming weeks and months — how to extend tax cuts implemented during Trump’s first term.
