The Economic and Foreign Policies of President Trump and How They Affect Corporates
How the Election of President Trump Upended the Prevailing Liberal Order
The election of President Trump in 2016 was seen by experts and commentators as arising out of the very real anger faced by those left behind by globalization and advances in technology that upended their lives and made them jobless as well as unable to derive any benefit from the liberal world order that was the norm since the 1990s.
Indeed, many pollsters got their predictions about the eventual winner wrong since they assumed that most Americans would rally behind Hillary Clinton who ran on an establishment platform and promised to continue the good times that were just beginning after many years in the Doldrums.
Thus, President Trump with his America First and Make America Great Again was seen as appealing to the White Underprivileged who felt joblessness and a degree of economic and social insecurity that was unprecedented in the annals of American History.
Having said that, once elected, President Trump who promised to Drain the Swamp meaning to get rid of the business oriented model prevailing in Washington, immediately set about to promote pro business and pro free market policies such as giving the large corporations Tax Breaks and rolling back of regulations that were supposedly stifling them from raking more profits.
The Contradictions at the Heart of President Trump’s Policies
This indicates a contradictory position which is again characteristic of President Trump who says one thing in the morning and says something totally diametric as the day progresses. This is the reason for experts and commentators scratching their heads at the prevailing narrative where Big Business thrives and at the same time, the so-called Base of President Trump cheers him even more.
On the other hand, some commentators have discerned a broader narrative in President Trump’s actions wherein he primarily a Transactional Deal Maker who sees everything in Binary Times or in terms of wins and losses.
Indeed, compared to President Obama who was thoughtful in his approach, Trump simply is a disrupter who likes to shake up the status quo and ensure that capitalism wins no matter what.
Thus, to discuss the effect of President Trump on corporates, one has to look beyond the headlines and unearth a larger purpose in the sense that he is merely correcting what Big Business sees as mistakes of the previous Presidents as far as businesses and corporates are concerned.
Indeed, this is the reason why the Republican Party, long considered as pro business rallies around President Trump no matter how outrageous his statements are and no matter how inconsistent his behavior is.
How President Trump Favors Big Business
To get down to the details that are part of President Trump’s policies, first he has given large corporates the Biggest Tax Cuts in History and at the same time, his administration is also rolling back the environmental protections that were the hallmark of earlier Presidents as far as issues related to Climate Change, Fracking, and other Environmental aspects are concerned.
In addition, President Trump has also taken on many unions (or what is left of them) and has ensured that the Economy and the Stock Market are his primary concerns as far as his economic and foreign policies are concerned.
Indeed, given the fact that both are doing well means that Trump is essentially Big Business Friendly no matter what the voters think.
Moreover, his foreign policies are essentially aimed at the Domestic Audience and his Base who likes him to throw his weight around and engage in highly disruptive and destructive behavior such as the one that he has displayed as far as China and Europe are concerned.
Has President Trump Gone Too Far?
Having said that, some experts are now worrying as to whether his economic and foreign policies are causing damage to business interests as can be seen from the widespread opposition to him launching Full Scale Trade Wars with China and Europe.
Of course, there is a section of American elite who believe that America’s allies are freeloading on it and hence, there has to be a logical end to what President Trump is doing.
On the other hand, there are some who believe that he is taking his disruptive attitude too far and even Republicans are now worried that he may cause them to lose in the upcoming November Midterm Elections for the Congress and the Senate.
Indeed, this is causing much cheer in the Democratic Camp since these elections would be fought on the backdrop of what are essentially pro corporate policies to the extent that large sections of society have now started to rebel against them.
However, the proof of the pudding is in the eating and hence, it is better to wait and watch for the voters’ verdict before either praising or dismissing President Trump and his antics.
The Status Quo Maintained
Lastly, it needs to be remembered that the United States is the Beacon and the Bastion of Capitalism and Free Market Democracy and hence, no matter what one individual does, the corporates and the businesses would always have a say on the policies followed.
This leads us to the point that the American Voter would essentially have to choose from options that are either extreme forms of capitalism or milder ones.
In this perspective, President Trump can be seen as balancing the interests of his base with that of the corporates and hence, one takes this aspect seriously, it is clear that what President Trump is doing is that he is rejuvenating the American Economy and rectifying what is seen by corporates as too much socialism of the Democratic Party.
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