Donald Trump's Global Economy

• Author: Jacob Greene
• Posted: 2023-12-14

During the Presidential debates, President Trump and Hilary Clinton espoused vastly different views of our national economy. Hilary pointed out that President Barack Obama inherited the United States economy coming out of a recession. Trump proposed running the country like he runs his business, and the American people elected him. He and Hilary disagreed on taxation. She wanted no tax increases for taxpayers earning $200,000 or less. President Trump offered a tax cut for businesses to create jobs. Hillary Clinton advocated deportation of violent illegal aliens and citizenship for undocumented aliens to make them contributing members of our society. Hillary pointed out that the Clintons and Barack Obama decreased our national debt, and her plans were cost effective and thoroughly researched. Hillary feared Donald Trump would drastically increase our national debt. Who was right?

International Relations

On April 30, 2018, South Korean President Moon Jae-in thought Donald Trump had the ability to negotiate with North Korea to end its nuclear threat and possibly unify North and South Korea.[2] A Nobel Peace Prize was not in the offing. In the Presidential debates of 2016, Hillary thought illegal alien violent felons should be prosecuted and deported, but citizenship was the way to document the illegals and make them contributing members of society. Donald Trump said, "We’re getting the drugs. They're getting the cash. Secure the border. Get rid of the bad hombres." [3] President Trump said countries like Saudi Arabia have money they can afford to pay. He said he had some choice words for Japan not paying adequately for our goods and services. He pledged to "Make America Great Again."

Tariffs and Financial Sanctions

North Korean technology appeared in Iranian Shahab-3 missiles capable of carrying nuclear warheads planted on Iraqi soil and shipped to Yemeni Houthi rebels. As in North Korea, the Shahab-3 missile is launched from a silo or a transporter-erector-launcher base. [4] President Trump's economic sanctions on Iranian oil resulted in violent protests curbed by machine gun fire and severe economic depression throughout Iran. [5] The United States deployed U.S. Navy aircraft carriers to the Persian Gulf with a stationary Terminal High Altitude Area Defense jammer to breach Iranian communications and disable their missiles.[6]

Retaliatory Tariffs

On December 2, 2019, French President Emmanuel Macron proposed a 100% tariff on French wines, cheese, and chocolates that we all enjoy.[7] Trump's surcharges and tariffs on exports cost French billionaire Bernard Arnault $1.6 billion on a single Tuesday, December 3, 2019.[8] The World Trade Organization ruled Trump's 25% tariff on European imports from France, Germany, Spain, and the United Kingdom is illegal. [8] Mello Lopes, Sao Paulo, suspended new steel contracts opting to fill only long-term contracts in response to Donald Trump’s tariffs on imports from Brazilian and Argentine steel mills. Trump imposed the tariff because the decline in the value of their currency was detrimental to American farmers.[9]

Trump Regrets Loss of American Lives in the Middle East [10]

Citing the loss of $6 trillion, Donald Trump called the Turkish president claiming to have eliminated ISIS insurgents in Afghanistan, Iraq, and Syria. He wants the support of Turkish President Recep Tayyip Erdogan in his endeavors to curtail our involvement in an ongoing war in the Middle East that will never end. President Trump is against the United States meddling in the affairs of the Middle East. [11] Trump critics fear Donald Trump has brought the United States another war in the Middle East by sending 14,000 additional troops. His economic policy provoked mounting tension in the Middle East. Just as economic sanctions against Germany during World War I increased German aggression, Iran is desperately trying to increase its land area, exert power over neighboring countries, and survive the devaluation of its currency.

Our National Debt Under the Trump Administration

President Donald Trump's administration increased our public debt from $19.573 trillion to $22.72 trillion by September 2019. [12] Our true economic health is measured by the ratio of our public debt compared to our gross domestic product. Donald Trump pledged a 6% annual increase in income tax to eliminate our public debt within eight years in office. His actual annual economic growth rate was 2.4% to 2.9%, woefully short of his expectations. He expected 4% growth with federal income tax cuts. He reduced corporate taxes from 35% to 21% in 2018, doubled the standard deduction, and eliminated personal exemptions. Revenue generated by his tax cuts was far less than income tax revenue lost from his tax cuts.

[1] https://www.bing.com/videos/search?q=2016+presidential+election+debate+economy&&view
[2] https://www.reuters.com/article/us-northkorea-southkorea-trump-idUSKBN1I10OD
[3] https://www.bing.com/videos/search?q=2016+presidential+election+debate+economy&&view
[4] https://missilethreat.csis.org/missile/shahab-3/
[5] https://www.nextbigfuture.com/2019/06/us-sanctions-cut-iranian-oil-exports-by-five-times-and-iran-is-in-economic-depression.html
[6] https://www.mda.mil/system/thaad.html
[7] https://www.nytimes.com/2019/12/02/business/trump-tariff-france.html
[8] http://www.msn.com/en-us/money/companies/the-worlds-third-richest-man-has-a-donald-trump-problem/ar-BBXP92e?li=BBnb7Kz&ocid=AARDHP
[9] https://www.reuters.com/article/us-brazil-steel-output-idUSKBN1Y924V
[10] https://www.newsweek.com/trump-regrets-us-wars-middle-east-what-mistake-721558
[11] https://www.cnn.com/2019/05/25/politics/beto-orourke-trump-middle-east-war/index.html
[12] https://www.thebalance.com/trump-plans-to-reduce-national-debt-4114401