The State Department’s late-April announcement of limited-edition “America250” passports featuring President Trump’s portrait and gold signature on interior pages has anchored trader consensus at 76% for issuance by July 31. The redesign, prepared to mark the nation’s 250th anniversary, will initially be offered without extra fee at the Washington Passport Agency and will retain standard security features. Official statements confirm production of roughly 25,000 units is underway, with rollout targeted for early July, though exact distribution timing remains subject to final manufacturing and agency logistics. This executive-branch action, the first time a living president’s image has appeared in U.S. passports, supplies the clearest near-term catalyst while leaving modest room for scheduling slippage before the resolution cutoff.