Trump's policies are top of mind for investors heading into 2025, with tariffs and an immigration crackdown seens as potential headwinds for the economy.

I think the Trump stock market rally will end because of Trump. In particular, stocks will suffer (eventually) because of Trump's tariffs. The president-elect has pledged to impose 10% to 20% tariffs on all imports into the U.S. and wants tariffs of between 60% and 100% on all Chinese imports.

Each day that passes since the election seems to expand the definition of the Trump Trade. On Thursday, president-elect Donald Trump made two unrelated announcements that moved two disparate corners of the stock market.

While campaigning for a second term in office, President-elect Donald Trump declared “tariff” to be his “favorite word” and “the most beautiful word in the dictionary.” He regularly said he would use tariffs to raise federal revenue and increase jobs and manufacturing in the United States.

The election of former President Donald Trump, who will assume control of the White House in January, has left many wondering if another stimulus check could be on the way, with Trump having issued two during his first stint in office.