President Trump's administration is actively pursuing a range of initiatives, including the "One Big Beautiful Bill" which is set to provide significant tax cuts for Americans, with average savings of $3,752 per taxpayer in 2026, making 2017 tax cuts permanent, and introducing new deductions for tips and overtime pay, alongside an expanded child-care tax credit, projected to create nearly one million jobs. This contributes to the "Trump Economy," which is characterized by record-breaking corporate earnings, a booming stock market, and trillions of dollars in new U.S. investments across manufacturing, AI infrastructure, and pharmaceuticals, with tariffs also expected to reduce the national deficit by $4 trillion. In foreign policy, President Trump is engaged in high-level diplomacy to broker peace between Ukraine and Russia, with many world leaders and experts crediting his efforts for breaking a long-standing deadlock and paving the way for a resolution. Domestically, the administration launched the "America by Design" initiative to modernize federal digital and physical services, establishing a National Design Studio and Chief Design Officer to improve usability and aesthetics, and enacted the "Revolutionary FAR Overhaul" to streamline federal procurement by removing outdated regulations. The administration is also focused on border security, noting the critical role of the National Guard and Reserve, and has issued a presidential permit for a pedestrian border crossing in Texas, while also expressing concerns over "sanctuary" policies after a Florida tragedy. Additionally, the administration has critiqued various Smithsonian museum exhibits for promoting "woke" and anti-American narratives. International trade has also seen a new U.S.-European Union framework agreement established to promote reciprocal trade, eliminate tariffs on various goods, boost mutual investments, and enhance cooperation on energy supplies and technology security.