Myles McCormick and Claire Jones
Updated Jul 28, 2025 – 3.15pm, first published at 3.13pm
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When Donald Trump took office six months ago, economic forecasters held their breath.
The president had promised a radical political and economic agenda for his second term: a broad crackdown on migration that threatened labour supply; a dramatic downsizing of the federal government; and a new tariff regime with negative implications for growth and inflation.
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Financial Times