The next two years for Trump will be mostly about survival. If his policies see positive effects in the latter two years of his term, the GOP will be in a strong position heading into the 2028 elections. I expect that the next two years will be rough and that the Democrats will take back congress in 2026. Then it's a question of whether or not things straighten up.
Inflation may jump, especially if he applies tariffs to goods from Canada and Mexico. I assume he is using those threats as a way to kick off any meetings on new or revised trade deals, because that's how he operates. Actually implementing them would... not work very well. As I understand it, most of his previous tariffs were left in place by the Biden administration, so inflation may not spike if he makes modest changes to those.