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After two days of stock market turmoil, however, this may also be remembered as the week the president's second-term agenda ran headfirst into economic - and political - reality.

By comparison, the US stock market has lost around 17% of its value from its peak in February and is now down 2% from where it was this time last year.

Beyond the stock market shock, public opinion is souring on what former Vice President Mike Pence called the “largest peacetime tax hike in U.S. history” in a Wednesday post to X.

Global stock markets have slumped since Wednesday's announcement of blanket 10% tariffs, with higher rates for countries branded the "worst offenders" in their trade policies by Trump.

This is happening at a time when those on fixed budgets could be hit with higher prices for consumer goods thanks to Trump’s tariffs, and may see their nest eggs threatened by stock market volatility.