Are Trump's economic policies good or bad?

[PX-Z]

[quote author=UTON Blockchain .
Policies are still subjected to changes he can have some interactions with is trusted team and may be make some adjustments for now all this are propositions.

Thus it does not work just like what he just planned, new tax policy or any policy probably will become a law first, so it will be voted, first by the House then the Senate, if many voted yes, then it will become a law eventually, and so it does not matter only for the president to decide.

[dezoel]

In my opinion, Trump believes if you tax the rich less, they would use that money better than government could, and also if you d onto need taxes, because you cut the tax spending, that would pay for itself. That way, rich do keep their money, instead of pay taxes, and they would end up with spending that on growth, and help the nation more. Does this actually mean it will work?

Well since Reagan times, they have been trying trickle down economics and so far we couldn't see any benefit to the poor, when you give the rich more, they do not create more business, they still take their manufacturing somewhere else, the problem with what we are seeing right now is that we haven't seen rich share it, so the poor stays poor, while rich gets richer.

[bitLeap]

Everything is still uncertain, because Trump has not been officially inaugurated. So hopefully Trump policies will be more comprehensive and can be felt by all small business actors. However, I do not know the details of the busyness of business actors in the US and it is very limited because I am not a citizen there. As far as my view of the US situation is that they are more advanced than us who are still a developing country.

[Swordsoffreedom]

The world economy in the next 4 years will completely depend on his economic, domestic and foreign policies and our lives will also be affected by what he will do. So let's hope his policies are good for the economy rather than think they'll be worse.


Many people were disappointed when Trump was elected instead of the candidate they supported (Harris), they continued to doubt and say his policies were bad. But they need to know that whether they like it or not they have to face it, so instead of continuing to badmouth and put him down, let's hope together that he will create a better world.


I support him because I believe he will bring optimism to the crypto industry so I believe he will do well with the world economy as well.

[shield132]

I'm relying somewhat on this article but adding my own thoughts.
High taxes on imported goods will likely help local manufacturers and businesses, but as reliance on China is very high, I think some industries will be severely hurt because of the lack of domestic supply. His tax cuts will benefit the wealthiest the most, but can also be somewhat beneficial for small businesses. His migration policies will likely lead to negative economic impact, even though politically, they will be satisfying for a large part of the population.
Overall, I think his approaches are risky, likely very good for very powerful people but pretty bad for the economy overall.

I think that Trump's goal is to return production to the USA and he tries to force companies by high import tax rates because otherwise Apple and other companies don't plan to leave China. Being dependent on China is a very bad case for the USA. His migration policies will lead to a negative economic impact because illegal migrants are the reason why they get some things cheaply. Thanks to illegal migrants, they have cheap labour to build houses, to do very dirty and physically demanding jobs and to work overtimes with a very bad compensation. If Trump reports illegal migrants, prices of many things will go up in the USA but long-term, such an environment will guarantee good job conditions for local citizens because I think that those Americans who grew up in comfort won't work as cheap labour.

It's interesting to see how his approaches will benefit the USA. I know that it won't benefit my country because there are many migrants from us in the USA. His strategy looks interesting. If he succeeds, then I believe that many rich countries will change their policies.

[philipma1957]

The title is a bit misleading. Everything has two sides, and after analyzing it broadly, it's clear that, true to his nature as a businessman, his economic policies tend to benefit the wealthy.
1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15%.
2.Trade Policy:
He planned to impose new tariffs of 10%-20% on most foreign goods, with higher tariffs on Chinese products (at one point, up to 60%), and heavy tariffs on Mexican automobile products (even threatening to reach 200%).
3.Monetary Policy:
The Federal Reserve should lower interest rates to stimulate economic growth.

Let the man assume office before all this speculations and I think it's fair to access if a policy works or not after at least first hundred days in office.
Policies are still subjected to changes he can have some interactions with is trusted team and may be make some adjustments for now all this are propositions.

Also going by what you just wrote I would really like to understand how it benefits the wealthy. In addition Donald might be a billionaire but you hardly find any president of the United States of America who is a poor man or doesn't have wealthy friends, let's be honest. So thinking that Trump's policy would benefit the wealthy because he is one is unfair.
Correct me if I am wrong TAX CUT is something that would benefit everyone both the upper class and the lower class?

The cuts are for the rich not for the middle class.

I wonder if this will be a disaster for the USA

[Ambatman]

The cuts are for the rich not for the middle class.

I wonder if this will be a disaster for the USA

If not properly managed it could be a disaster
Since lower tax reduces revenue and lower revenue increases debt
And the only way to combat this debt would be through more creation of currency which would in turn bring about inflation.
But if the economic growth that such tax reduction would facilitate outweighs the returns lost
Then it could help in improving the economy without risk of inflation.
Maybe this is where Bitcoin as a strategic reserve comes in
But curious how they would handle a big correction.

[l99l]

I don't have very good information about Trump's policies. I'm putting aside his Bitcoin policy, he was successful there and made good use of Bitcoin.
They say he will impose sanctions on taxes or customs duties, I'm not sure how the US will get in return.
On the other hand, I know he wants to completely eliminate US debts. In fact, his policies seem good for now, but only time will tell how they will be in practice.

[DrBeer]

Trump is a nationalist in a good way
He is backed by industrialists, companies, big foundations,.... They benefit from a better US economy. US citizens benefit from a working US economy - jobs, wages, taxes. Job growth can cover part of the tax cuts, the rest will be covered by taxes on imported goods. Reducing dependence on imports is not only an improvement of the economy inside, but also a “solution” for the promised pressure on China, for example, which has a huge export flow towards the USA.

[Oluwa-btc]

1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15

Analyzing all of this it's sure a huge revolution and i must say the policies will definitely be beneficial but then we ought to wait and see how it turns out to be, and yes his involvement in the economy is another huge impacts and we anticipate for the best out of it. To me I don't see a thing wrong in his new policies relating to monetary, taxes and trade cause it will amount to growth.

[davis196]

The title is a bit misleading. Everything has two sides, and after analyzing it broadly, it's clear that, true to his nature as a businessman, his economic policies tend to benefit the wealthy.
1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15%.
2.Trade Policy:
He planned to impose new tariffs of 10%-20% on most foreign goods, with higher tariffs on Chinese products (at one point, up to 60%), and heavy tariffs on Mexican automobile products (even threatening to reach 200%).
3.Monetary Policy:
The Federal Reserve should lower interest rates to stimulate economic growth.

Trump doesn't have control over the Federal Reserve and he can't increase or decrease the interest rates.
The tax cuts will be good for the economy, but the higher tariffs might be bad for some industries and good for other industries.
The budget deficit might hit absurd levels and this will boost inflation and probably increase the interest rates of the treasury bonds.
The biggest promise by Trump is reducing the government costs, bureaucracy and regulations. Let's see how much government costs can he cut. This might put the budget deficit under control, but I'm skeptical about his promises.

[Sanitough]

Trump doesn't have control over the Federal Reserve and he can't increase or decrease the interest rates.

Yes that is true, but this is like a similar scenario with the SEC chair where he could not fire but Gensler stepped down already. And relating that to the federal reserve,  while Trump "can't increase or decrease the interest rates", but he can indirectly influence it since he can appoint a  Federal Reserve chair.

[fuguebtc]

Trump doesn't have control over the Federal Reserve and he can't increase or decrease the interest rates.

Yes that is true, but this is like a similar scenario with the SEC chair where he could not fire but Gensler stepped down already. And relating that to the federal reserve,  while Trump "can't increase or decrease the interest rates", but he can indirectly influence it since he can appoint a  Federal Reserve chair.

But you forget that Mr. Jerome Powell was nominated by Mr. Trump in 2017 after Janet Yellen's term ended in 2018, and Powell's term lasts until 2026 . So Trump won't be able to replace him until his term ends . Additionally , the appointment of a Fed chair must be approved by the Senate , not just the president, so the decision to appoint someone cannot be left to Trump.

Trump cannot interfere with the Fed's interest rate decisions, but his economic policies will influence the Fed's actions on interest rates . If he can boost economic growth and reduce inflation , the Fed has no reason to maintain high interest rates when inflation is no longer high . Trump is the one who decides the direction of the US economy for the next 4 years .

[CryptopreneurBrainboss]

The title is a bit misleading. Everything has two sides, and after analyzing it broadly, it's clear that, true to his nature as a businessman, his economic policies tend to benefit the wealthy.

All economy policies benefits the wealthy more whether we like it or not, it's only when there's an attack on the rich with over taxing them that's when they don't benefit from the economy policies.

I'm not a US citizen but from what I understood from his last administration was that, the US economy did very well under his presidency. It was until when the covid-19 pandemic came that things got unstable and it cost him his second term but he's back again and I believe he'll improve the US economy.

He'll learn from his mistakes and do things right this time around. He hasn't resume office yet so non of the policies are in full effect, we should wait until the handover is done then we can start judging him but I'm expecting much better economy from him than what Biden has provided.

[Huppercase]

The title is a bit misleading. Everything has two sides, and after analyzing it broadly, it's clear that, true to his nature as a businessman, his economic policies tend to benefit the wealthy.
1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15%.
2.Trade Policy:
He planned to impose new tariffs of 10%-20% on most foreign goods, with higher tariffs on Chinese products (at one point, up to 60%), and heavy tariffs on Mexican automobile products (even threatening to reach 200%).
3.Monetary Policy:
The Federal Reserve should lower interest rates to stimulate economic growth.

Policy reformation comes with a cost and how hard it hit the country depend on how they take the action. I don't leave in the US to understand their economic better than what we read online, but we understand ours better and how they work. Here in my country, someone thought the new government was going to be better than the previous ones and it turnout to be worse and we are still suffering the consequences of this new policies.

Here is what I think about some of the new policy he is trying to adjust and tackles together, I want to removed the tax cut because that's for millionaires and Billionaires that run business empire and I'm sure the first perron that will enjoy from that benefit is his friend, that's Elon Musk.

The increase on the new tariffs of foreign goods is a great way of preserving good health and making people to engage in agriculture..

[Reatim]

The title is a bit misleading. Everything has two sides, and after analyzing it broadly, it's clear that, true to his nature as a businessman, his economic policies tend to benefit the wealthy.
1.Tax Policy:
He proposed tax cuts amounting to trillions of dollars, including expanding the 2017 tax cuts and reducing the corporate tax rate from 21% to 15%.
2.Trade Policy:
He planned to impose new tariffs of 10%-20% on most foreign goods, with higher tariffs on Chinese products (at one point, up to 60%), and heavy tariffs on Mexican automobile products (even threatening to reach 200%).
3.Monetary Policy:
The Federal Reserve should lower interest rates to stimulate economic growth.

Let the man assume office before all this speculations and I think it's fair to access if a policy works or not after at least first hundred days in office.
Policies are still subjected to changes he can have some interactions with is trusted team and may be make some adjustments for now all this are propositions.

If anyone wants to check Trump’s effectiveness, you can go ahead and look at his first presidency. There are still things that we do not know like whether he will assume the promises he’s made in his campaign but this isn’t his first crack at the presidential role. He’s already led and we can check how he ran the white house back then. Might be quite different now since times has changed but you’ll probably get a general idea.

[GigaBit]

Trump has not yet started any work in his power. But all Americans will definitely expect good things from him. He will try so that Americans can be satisfied with him. In domestic matters, he will definitely get everyone's praise for reducing taxes because both the rich and the poor will benefit there. However, he is never flexible when it comes to importing goods from abroad. Because the amount of taxes will increase there greatly. As a result, the price of imported goods will increase. Due to which a somewhat chaotic environment may be created there. But there is nothing to comment on this issue right now. Everyone hopes that whatever policy he adopts will definitely be supported by the American people.

[Richbased]

Let the man assume office before all this speculations and I think it's fair to access if a policy works or not after at least first hundred days in office.
Policies are still subjected to changes he can have some interactions with is trusted team and may be make some adjustments for now all this are propositions.

Sometimes, i do wonder why people are so concerned about policies of a government that is yet to assume office when we all know that it's not everything they said that will be implemented. Donald Trump has been in the white house before and he knows about the policies that he will implement that will make his government work effectively. Being re-elected to an office is just like giving someone the opportunity to do better than they did in their first time so if Donald Trump likes let him implement policies that will favor the masses or not, after four years, another person takes over and also make their own policies and the government continues. However, we should not forget that a president cannot make policies and pass bills by himself, he has cabinet members and legislatures who will review those policies if they are worth enacting into law or not.

[YOSHIE]

Are Trump's economic policies good or bad?

Many media have raised big changes regarding Trump's victory, especially in the global economic sector. Trump himself once said in the campaign that if he wins, it will bring massive economic changes, I think that in terms of the economy Trump came to power, the ideas he implemented were not much different from when he first came to power, maybe there were a few sophisticated changes because he was already experienced in terms of leadership.

The changes that Trump promised to change the economy.

Donald Trump promised tariffs of 10% or 20% on all goods imported into the US and even higher tariffs of 60% on goods made in China. at the same time, he also promised to redevelop the manufacturing industry, cut taxes, and deport millions of illegal immigrants.

Even though Trump's promises look real and many people are convinced, only time will tell if the global economy will continue.

[pooya87]

I think that Trump's goal is to return production to the USA and he tries to force companies by high import tax rates because otherwise Apple and other companies don't plan to leave China. Being dependent on China is a very bad case for the USA. His migration policies will lead to a negative economic impact because illegal migrants are the reason why they get some things cheaply. Thanks to illegal migrants, they have cheap labour to build houses, to do very dirty and physically demanding jobs and to work overtimes with a very bad compensation. If Trump reports illegal migrants, prices of many things will go up in the USA but long-term, such an environment will guarantee good job conditions for local citizens because I think that those Americans who grew up in comfort won't work as cheap labour.

It's interesting to see how his approaches will benefit the USA. I know that it won't benefit my country because there are many migrants from us in the USA. His strategy looks interesting. If he succeeds, then I believe that many rich countries will change their policies.

It is worth knowing that a lot of the objectives Trump seems to have and many of the promises he has given are not new. Such plans like to "return production to the USA" is an old objective that other presidents have pursued as well. They even have a word for it: reshoring (as opposed to offshoring).
They've tried it for many years and even spent a lot of money on this initiative. It has not been a great success.

However, it is still interesting to see what will be different this time because of two things:
1) Trump's plans are very radical and somewhat impossible
2) Timing is terrible. The world is in a high tension situation filled with lots of conflicts that has made the economy unstable and very RISKY. Taking big risks at this time are terrible

There are also a lot of contradicting interests in it. On one hand because of #2 US has to rely less on imports and "reshore" because the supply chain that is already disrupted can be disrupted even more. But on the other hand, at this stage it is an impossible thing to pull off.

I read someone crazy a while back where they estimated that if for example Apple were to be forced to manufacture iPhones in the US, their products would be worth like $100k! That's like 100x more expensive than what they cost now.
That wouldn't just make American products impossible to export since nobody would be able to afford them in any other country but also it would make them unaffordable for the American consumer as well.
So reshoring in a lot of cases means the death of that company.

They also cannot do what the Chinese did with their currency (keep the exchange rate low to remain competitive) because the only reason why US dollar is still alive and is used globally (despite the dedollarisation) is that it is rather stable and has a high exchange rate.
The moment they crash the exchange rate to compete, is the moment the world would dump the dollar and most importantly would dump trillions worth of the US treasury bonds effectively crashing the US economy.

I am thinking out loud here but this is what makes it interesting to me. From what little I know of economy, it is impossible for anyone to "return production to the USA", the capitalism and Petrodollar have made sure of that. So we wait and see. Maybe this time they pull a rabbit out of the hat and surprise us all...