Trump’s Second Act: What to Expect in 2025 and Beyond

This report by PIMCO, authored by public policy expert Libby Cantrill, analyzes the expected economic and policy impacts of Donald Trump’s second presidential term.

• Legislative Constraints: Narrow Republican majorities may limit Trump’s ability to pass significant tax cuts and spending reductions.
• Executive Actions: Key focus areas include reversing Biden-era regulations, imposing tariffs on China, and tightening immigration controls.
• Fiscal Outlook: Likely increased deficits with potential short-term extensions of the Trump tax cuts, while debt ceiling adjustments are anticipated.

For a comprehensive analysis of these projected policies and their market implications, access the full report.