President Donald Trump is still going strong and up till now he has shown the world that he definitely meant what he said during his election campaign and in the interim period. President Trump just pulled out of the Trans Pacific Partnership through an executive order issued by his office.
The TPP was one of the biggest economic standpoints of Obama’s Asia centric policies and the agreement stood to cover nearly 40% of the world’s economy through trade ties with the United States, but Trump was strictly against the deal. He believed that the deal would be highly damaging to the US’s internal manufacturing sector, which he vociferously is trying to revive.
Trump aims to increase jobs in US and has done everything in his domain to make that happen. Whether it was blasting companies who had announced their plans to build factories in Mexico and other regions outside the US or holding a meeting with Silicon Valley’s power list, he’s done it all and in a knee jerk sort of a reaction, it seems to be working up till now.
Lots of companies have lined up and announced that they would increase jobs in the US economy while companies like General Motors has gone on to announce financial investments to build factories in the United States. A big move away from the preferred shores of countries where these corporate giants love to invest their resources owing to the low tax rates and abundance of cheap labor they provided.
But President Trump is not just only benefitting the employees, he has something in store of the companies which is just as lucrative. He has gone on to say, after he assumed office, that he plans to cut down the corporate tax rate within the manageable range of 15%-20% from the current high of 35%, while also promising to cutting down regulation by almost 75%.
Trump-onomics is going great guns up till now and has shown highly positive signs, no matter how unusual the actions that brought them may seem, of “working” out right, a far cry from the complex policy structures we are used to seeing whose results were always difficult to gauge.