Daily Immigration Arrests Reach 1,400 Cases
Effective Tariff Rate at 8.8%... Could Exceed 20% in the Future
Nearly One Executive Order Issued Per Day... Highest in History
US President Donald Trump announced the mutual tariff rates by country at the White House on April 2, which he named "Liberation Day." Photo by AP
It has been six months since US President Donald Trump began his second term after successfully regaining the presidency, as of the 20th (local time). The Financial Times (FT) of the UK reported that President Trump has implemented numerous policies ranging from tariffs to stricter immigration enforcement. The FT particularly analyzed that "many of these changes have been carried out through executive orders, thereby avoiding congressional oversight."
According to the FT, President Trump first launched a global trade war by threatening to impose high tariffs on countries around the world, including US allies. When he announced the imposition of mutual tariffs by country in early April, the US stock market experienced its largest drop in nearly five years. However, as he repeatedly postponed the implementation of tariffs, the stock market rebounded to record highs. This cycle led to the emergence of the term "Taco" (Taco·Trump always chickens out), meaning "Trump always backs down," in the market.
In contrast, the US dollar is at its weakest point in 52 years since 1973. Experts warn that President Trump's economic policies and threats to the independence of the US central bank, the Federal Reserve (Fed), could weaken the dollar's role as a safe-haven asset for foreign investors.
President Trump has also intensified immigration enforcement. The number of immigrant arrests by US Immigration and Customs Enforcement (ICE) has surged since the launch of the second Trump administration. The Trump administration aims to deport one million people annually. Although President Trump pledged during last year's election campaign to target immigrants with criminal records, the FT pointed out that, in practice, most of those arrested have no criminal record. Last month, there were several days when the daily number of arrests exceeded 1,400. This contrasts with June of last year, during former President Joe Biden's term, when the number did not surpass 500 per day.
Due to President Trump's aggressive tariff policies, the US effective tariff rate, which was 2% at the beginning of this year, has now soared to 8.8%. As a result, tariff revenues increased by $47 billion compared to the same period last year. In the second quarter alone, revenues reached $64 billion, marking a quarterly record. Most of this came from the 30% tariffs imposed on Chinese imports. According to estimates by the Yale Budget Institute, if all recently announced tariffs by the Trump administration, including 30% tariffs on the European Union (EU) and Mexico, are implemented, the average US effective tariff rate will rise to 20.6%. This would be the highest level since 1910.
President Trump has also pursued major policies through executive orders rather than congressional legislation, thereby evading congressional checks. From January 20 to mid-July, he issued 170 executive orders?about one per day, by far the most among recent US presidents.
The foundation for Trump's tax cut policy was also established as the "One Big Beautiful Bill Act" (OBBBA), which supports the implementation of his national agenda, passed through Congress. This law significantly reduces Medicaid, the health insurance program for low-income individuals and people with disabilities. According to estimates by the Congressional Budget Office (CBO), about 11 million Americans will lose Medicaid coverage by 2034. Under this law, approximately $170 billion is allocated for immigration enforcement and border security, of which $45 billion will be used to expand ICE detention facilities and $30 billion will be used to hire thousands of new personnel.
President Trump has also significantly reduced the size of the federal government. Under the leadership of the so-called Department of Government Efficiency (DOGE), led by Elon Musk, CEO of Tesla, several departments were shut down. In February, CEO Musk posted on X (formerly Twitter) that he "put the US Agency for International Development (USAID), the agency in charge of foreign aid, through the shredder over the weekend." According to a recent paper published in the medical journal The Lancet, government budget cuts could result in over 14 million additional deaths by 2030, including up to 4.5 million children.
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