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.

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.

President-elect Donald Trump is poised to re-enter the White House on Jan. 20 — bringing with him a return of his populist policies and significant interest in whether those will include another stimulus check.