Political risk from immigration messaging

Today marks one year since President Donald Trump returned to office. In his first year back in the White House, Trump has wielded the power of the presidency in unprecedented ways. But despite many of the achievements that the White House points to from 2025, there are a number of fronts with uncertain horizons in 2026. Trump has spent the first part of the year focused on various foreign affairs — despite voters’ consistent cost-of-living concerns, which are set to dominate the midterm messaging battle. Playbook’s Jack Blanchard and Adam Wren take stock of Trump’s return to power and where the president and his team turn now.