What Has Been The Impact of Trump Policies on World Commerce?

American first policy- is as foreign policy by Donald Trump administration that has emphasis on interventionism and nationalism of Americans. It rejects internationalism policies. The policy has seen the negotiation of trade agreements like North America Free Trade Agreement (Nafta). The policy has resulted to Trump administration imposing heavy taxes on washing machines, solar panels. The policy has targeted China for creating economic crisis in United States.

Economic policy-

The policy includes reducing immigrations, protectionism in trade, reforms in corporate and individual taxes. The policy has lowered taxes on Americans population. The policy has strengthened United States on trade perspective against the big trading partners like China and North America Free Trade Agreement (Nafta). The policy has eliminated free trade by importing taxes thus making the cost of imported goods very high.

Environmental policy-

The policy emphasizes on increasing use of fossil fuel and scrapping policies on environment that trump has seen to impede business. Environmentalists argue that Trump policy will see an increase in greenhouse gas emission which has been associated to global warming. Global warming has been associated with greenhouse gas emission. Trump environment policies are aimed and strengthening United States companies with little regard to environmental impact.

Foreign policy-

Trump foreign policy has negative impact on international trade. Trump foreign policy on trade saw United Sates withdraw from Trans-Pacific partnership. Trump has also started negotiations with NAFTA. Trump foreign policy is aimed at reducing United States trade deficit by removing unfair practices in trade and using remedies more aggressively. Trump has also started negotiations with trade in services and European Union. Trump foreign policy has started trade wars with China.

Cannabis policy-

The policy was formed to enable individual states legalize the use of marijuana by American states for medication purposes. In the year 2018, 28 states in America legalized marijuana. Marijuana is a multi-billion dollar industry which will improve the economies of the states. Drug manufacturing companies have benefited from the sale of drug manufactured drugs using marijuana. The policy has positive impact on farmers who grow and sell marijuana to drugs manufacturing companies.

Executive order 13769-

The policy aims at protecting terrorist from entering Unite States.The order lowered the number of refugees entering United States. Terrorists have had negative effect on United States economy. The orders have positive impact on businesses in United States as cases of terrorism have reduced. The order has led to reduction of information technology experts hired outside United States. Tourism contributes to 1.47 trillion dollars to US GDP. The order has seen the reduction of tourist vising United States thus reduction on tourism revenue.

Trump tariffs-

Trump tariffs has negative implications on international trade sinceit imposes heavy tariffs for steel and aluminum imported from European Union, Canada and Mexico. The affected countries responded immediately. Mexico has declared that it will impose tariffs on US imports. EU will put in place balancing measures in retaliation. Reduction of trade between the three trade partners will have negative implication to United States economy.