A Business Guide to Trump’s Economic Policy

Understanding the Key Pillars of Trump’s Economic Views

President Donald Trump’s economic policy is similar to that of he first Trump administration but with a greater use of tariffs for trade protectionism; deeper and wide tax cuts for individuals and corporations; an increased focus on deregulation around energy and financial sectors; and deeper changes to international economic order and geopolitical system.

Businesses of all sizes should understand these changes and monitor the underlying issues.

Trade and tariffs

Trump has discussed tariffs as a way to protect critical industries and promote investment in the United States, as a source government revenue, and as a negotiating tool. More specifically, this includes a general policy of decoupling from China.

Tax Reform

President Donald Trump and his advisors made a series of tax cut proposals and promises both during the campaign and after the election. Congress will consider significant tax legislation in the coming year, as several of the provisions enacted under the Tax Cuts and Jobs Act (TCJA) of 2017 are set to expire at the end of 2025. Tax legislation could include renewal of the TCJA provisions along with additional proposals from Trump or from Congress.

Deregulation

Trump has pursued a deregulatory agenda with the goal of repealing regulations and increasing executive control over regulatory agencies.

Geo-Economic Order

Trump’s protectionist economic policies is the biggest change in the global economic order since the end of World War II.