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

Washington

President Trump's first year of his second term has produced mixed economic outcomes. U.S. exports increased by 2.5% and the stock market reached record highs, with the S&P index surpassing 6,000 points. However, overall economic growth remained at 2%, similar to the previous administration, and job creation slowed, with only about 600,000 new jobs added in 2025.

The administration's tariff policies led to a sharp decline in imports and generated significant customs revenue, but also caused shortages and higher costs for specialized imported goods, affecting various industries. Unemployment held steady at around 4%, and inflation remained just under 3%. The full impact of announced foreign investments is expected to become clearer in early 2026.

Trump's first-year U.S. economic record shows mixed signals

He promised the U.S. unprecedented growth and a new era of prosperity. The golden age of America begins right now. A year into Trump's second term, the question is, just how is the country doing economically? Where are things at in terms of growth, unemployment and new jobs? U.S. exports are up 2.5% compared to 2024, hitting US$302 billion in October 2025 alone, higher than for a long time. Nonetheless, in 2025, the economy grew by only around 2%, no more than under Trump's predecessor, Joe Biden. So if you take the entire year, one year of Donald Trump, the growth forecasts have been very much disappointing. Meanwhile, imports into the U.S. fell sharply in 2025 by well over 3%, which was the president's intention. Unlike his predecessors, Trump slapped import tariffs of 15% plus on almost all foreign trading partners. This has brought the U.S. government around $300 billion in revenue, cash that the White House says will be used to cut national debt and ease the burden on citizens by lowering taxes. But with imports now declining, so is customs revenue. Another problem is access to specialized import products, which, thanks to the tariffs, are either too expensive or unavailable. This affects everything from electrical and metal industries to chocolate producers. If the tariffs really drastically strangle my business and my affordability of running this business, then I will have to look at ending this. And when it comes to tackling the labor market, too, there are precious few signs of a golden age. Unemployment has remained at around 4% since the Trump administration took office. So far, it's not improved. In 2025, only around 600,000 new jobs were created, fewer than in 2024. However, it's a different story when it comes to the stock market. Prices have seen a strong upward trend for a year, and the S&P index is well above 6,000 points. Good stock prices are important for many U.S. citizens, as over 60% of the population invests in the market for extra income or to prepare for retirement. The question is how much of the money earned remains in the pockets of those people. As with previous President Joe Biden, the inflation rate is just under 3%, more than the 2% recommended by the U.S. Federal Reserve. Finally, President Trump announced a wave of investment by foreign companies in the U.S. It won't be possible to assess the volume of this investment in new production lines until early 2026. Experts, however, forecast it will go up.

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