Trump's Economic Policy Impact

This essay analyzes the impact of President Trump's economic policies, particularly trade protectionism, on foreign economies, focusing on China. It explores Trump's nationalistic philosophy, the effects of tariffs on Chinese exports, and the consequences for China's manufacturing industry and overall economy. The essay concludes by analyzing the broader implications of Trump's economic policies on global trade and economic relations.

Describe and explain how
President Trump’s approach to
economic policy impacts upon
foreign economic

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
P1 Explain Trump's nationalistic philosophy with example of his economic policy.................1
P2 Economic policy that impact on China and its proportion of export ....................................1
P3 Impact of economic policy on China's manufacturing industry and large economy.............2
CONCLUSION................................................................................................................................2
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REFERENCES................................................................................................................................3

INTRODUCTION
45th president of United state is Donald J. Trump and his first term of presidency is from
2017 to 2021. Economic plan made by Donald Trump mainly focus or aim on making America
great once again (Inglehart and Norris, 2016). This assignment is based on China and its
manufacturing industry. Furthermore it is going to explain Trump's nationalistic philosophy,
impact of economic policy on China and its export and impact of economic policy on china's
manufacturing industry as well economy at large.
MAIN BODY
P1 Explain Trump's nationalistic philosophy with example of his economic policy
Donald Trump's nationalistic philosophy is to make America same as it is in past which is
abstract in campaign pledges develop by him that include trade protectionism, reduction in
immigration, reform of individual and corporate tax reform, deconstruction of the Dodd Frank
wall street reform and consumer protection Act and also nullify the Patients protection and
Affordable care Act (Rodrik, 2014).
Taken Donald Trump economic policy for example of nationalistic philosophy is trade
protectionism which refers to the policy give to protect domestic industries against foreign
competitors which done through tariffs, subsidies, import quotas or other barriers placed on
importing foreign products or services. US president Donald Trump has jolted the trade
globalization foundation by creating barriers on trading or imposing tariffs for EU, Canada,
Mexico and China, from where billions dollars goods and services are being imported. And it
leads to trade war in which one country attack another country by the help of imposing taxes and
quotes on each another.
P2 Economic policy that impact on China and its proportion of export
Economic policy which impact on China and its exportation is trade protectionism which
means try to use barriers like tariffs to enhance domestic country industry and protect it from
foreign competitors. US president Trump impose tariff on steel and aluminium trading against
China, he announced 25% tariff on steels and 10% on aluminium which impact on the China
economy and its exportation both get affected in negative form due to it. Trump take this
decision to cut off the trade deficit with China, trade deficit means difference between buying of
one country from another country and compare it with sells to that country.
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P3 Impact of economic policy on China's manufacturing industry and large economy
Their are several companies of United State whose manufacturing are done at China but
when US president Donald Trump impose trade protectionism of trading it will directly and
indirectly affect the china manufacturing as well as economy at large level (Rodrik, 2018).
China's manufacturing get affected by economic policy in such way like if there is tariff
will impose on exportation then companies manufacturing cost will increase due to which
company not prefer exportation of products from china which affect manufacturing industries of
China (Stiglitz, 2017).
When there is directly impact on manufacturing industries it will also affect economy at
global level because there is reduction in job, economy value and many more.
CONCLUSION
From the above mentioned point it can be conclude that the economic policy design by
Donald Trump focus on make America better once again for which he impose trade
protectionism on EU, Canada, Mexico and China which directly impact on their economy and
exportation that directly impact on economy of global.
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REFERENCES
Inglehart, R. and Norris, P., 2016. Trump, Brexit, and the rise of populism: Economic have-nots
and cultural backlash.
Rodrik, D., 2014. When ideas trump interests: Preferences, worldviews, and policy
innovations. Journal of Economic Perspectives. 28(1). pp.189-208.
Rodrik, D., 2018. Populism and the Economics of Globalization. Journal of International
Business Policy, pp.1-22.
Stiglitz, J.E., 2017. The overselling of globalization. Business Economics. 52(3). pp.129-137.
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