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US economy: One year into Trump's second term

Christian Pricelius
January 20, 2026

Donald Trump promised a "Golden Age " of prosperity for the US. One year into his second term: where do things actually stand with economic growth and jobs?

https://p.dw.com/p/577eJ

US exports have risen, but overall growth in Trump’s second term remains modest at around 2%. Tariffs have cut imports and raised revenue, yet businesses struggle with costly goods. Job creation is slowing, unemployment is stuck at 4%, and inflation is just under 3%. Only the stock market shows strong gains, while the impact of promised foreign investment remains unclear.