"Since President Trump became president, he has promised that the economy will grow thanks to his new policies and policy changes. He demands that businesses He wants nothing to do with Immigrants are helping this country. In the long run, they could end up harming Trump's economy. Economic policies include trade protectionism, immigration, personal and corporate tax reform, consumer protection law, and reduced regulations. on environmental laws to help businesses A thorough analysis of each policy would help us understand which policies are harming the economy and why President Trump wants to implement these policies.Say no to plagiarism. Get a custom essay on “Why Violent Video Games Should Not Be Banned”?Get Original Essay Since Trump became president, he has made many policy changes and added new ones. One of the changes it has changed is trade protectionism. This policy protects domestic industries and imposes limits on unfair competition from foreign industries. It uses tariffs, subsidies and import quotas to restrict imports from foreign competitors. President Trump “imposed 25% tariffs on $50 billion worth of Chinese goods” (bbc.com). China responded by announcing it would also impose its own tariffs on $35 billion worth of U.S. goods. In doing so, these two countries have now created a trade war. A trade war occurs when two countries hit each other by imposing taxes and quotas and raising tariffs. Trump showed he was not afraid of creating a trade war, according to one of his tweets. “When a country (the United States) loses billions of dollars in trade with virtually every country it does business with, trade wars are good and easy to win. For example, when we lose $100 billion with a certain country and it gets cute, don't trade anymore - we win big - it's easy! He received a lot of backlash over this tweet, as most things he tweets usually receive backlash from his followers. When there is a tax on products made overseas, people are unlikely to buy them. They prefer to buy local products; thus, it would boost the country's economy. According to Dictionary.com, trade deficit is a “condition that exists when the value of a country's imports exceeds the value of what it exports; also called unfavorable trade balance. Last year, the trade deficit with China was $375 billion. The president wants to reduce the trade deficit using tariffs. Trump set 25% on steel imports and 10% on aluminum. This would lead companies to buy local steel because local steel would be cheaper. Trump opposing China might not be good for consumers. Prices will rise if this trade war continues because companies will have to compensate. This won't be the only thing Trump does that gets backlash, his immigration policy is another policy people aren't happy with. Immigration seems to have been the backbone of the United States. Since the 1960s, immigrants have been coming here to experiencebetter life. They have more opportunities here. As for Trump, he is trying to reduce the number of immigrants arriving in the United States. “Even more than before, immigration is intertwined with discussions about the U.S. economy and global competitiveness, national security, and the country's role in humanitarian protection at a time of record global displacement.” So how is the U.S. economy linked to immigration? Well, wages are not affected by immigration in the long run, and the economic effects of immigration are also mostly positive for natives and for the economy as a whole, according to economic research. There have been many immigration policy changes since Trump became president. A major policy that had a big effect on people was the ban on nationals of eight countries entering the United States. Most of them represent Muslim countries. According to balance.com, “On October 17 and 18, 2017, federal courts lifted certain travel bans imposed by President Trump. The judges said the bans on Muslim-majority countries were unconstitutional. They interpreted Trump's own words as inferring that his bans on Chad, Iran, Libya, Somalia, Syria and Yemen were based on religion. » Since the creation of the resettlement program in 1980, the admission of refugees has been reduced to the lowest level. Trump also canceled the Deferred Action for Childhood Arrivals (DACA) program. It would cost $60 billion to deport 750,000 people protected by DACA who contribute $28 billion a year to the U.S. economy. For nationals of Haiti, Nicaragua and Sudan, their temporary protected status designation has ended. According to balance.com, "the Center for American Progress estimated that mass deportations would reduce U.S. gross domestic product by 1.4 percent." The United States spends $11.4 billion and $20.2 billion on immigrants, adding $1.6 trillion to the economy each year. The majority of Americans do not agree with these policies. Although when he began his presidential campaign, reducing immigration was the central issue. People knew his intentions, but he was still elected even though the majority did not agree with him. One topic that came up repeatedly during his campaign was the construction of a wall on the border between Mexico and the United States. He also wanted Mexico to pay for it. The budget plan for building the wall would cost $25 billion. If Mexico refused to pay for the wall, Trump would change a “rule in the USA Patriot Act.” This rule would be established so that money sent from Western Union to Mexico would be withdrawn. President Trump wants to make many changes to immigration policy. He says it's good to grow the economy, but there's no evidence that's the case. Another thing he wants to do that he says will help grow the economy is personal and corporate tax reform. President Trump signed the "Tax Cuts and Jobs Act" on December 22, 2017. What this bill means is that the corporate tax rate, which was 35 percent , is falling to 21 percent. It will also lower taxes for small business owners and the majority of Americans. So, what will this tax change and what will stay the same? The rich will benefit from a new tax cut. In 2017, for married couples earning more than $470,700, the highest rate wasby 39.9%. With this bill, that figure would drop to 37 percent. As a result, the threshold would increase. The maximum rate would now be $500,000 for individuals and $600,000 for married couples. This goes against what President Trump has proposed. He said this tax bill would not support the wealthy. “The rich will not get a tax cut under our plan,” Gary Cohn, Trump's top economic adviser, said on Good Morning America. Second, the plan would cut taxes for the American middle class. “Our framework includes our explicit commitment that tax reform will protect low- and middle-income households, not the wealthy and well-connected,” President Trump said in a speech in Indiana. Not only will the rich benefit from tax cuts, but so will businesses. The tax rate for large businesses would “drop from 35% to just 21%.” This would be a massive, one-time interest rate cut for America's largest companies. Over the next decade, that would amount to $1 trillion in tax cuts. “Republicans say this will cause the economy to boom in coming years, but most independent economists and Wall Street banks predict only a modest, short-lived boost to growth.” So there are disagreements about how tax cuts for big businesses might affect the economy. Republicans say this would cause a “surge” in the economy. In other words, it would have a considerable impact on the growth of the economy. On the other hand, MurStreet does not agree with this. They believe it would be a “short-lived boost”. Which means the economy would grow from it, but it wouldn't be as big a boost. This tax cut would also allow Americans to deduct $10,000 in state, local and property taxes. Before the tax cuts, the state and local deduction was unlimited. In the final plan, they decided that people, including married couples, would only be allowed to deduct up to $10,000. This decision sparked much controversy. It was supposed to be limited only to property taxes, but in the final bill it allows "the deduction of all state and local taxes." According to Washingtonpost.com, "there are concerns it could lead to lower property values ​​in high-tax cities and leave less money for public schools and road repairs." This policy seems to do more harm than good. Until 2026, Americans would pay less taxes. While this plan will reduce tax rates for each income, it will also double the standard deduction. This would allow Americans to see their tax bill decrease the following year. The amount depends on the size, location and circumstances of each family. There is therefore no exact figure for the reduction in their taxes. For Americans who owe nothing in taxes, their taxes would increase from 44 percent to 47.5 percent. In 2025, tax cuts for individuals would disappear. Republicans want to keep tax cuts for businesses permanently, but they wouldn't cut them for families. There will also be a larger child tax credit. Low-income and working-class families once received a $1,000 child tax credit. In the final bill, that amount would be increased to $2,000 per child. Families who work but don't earn enough to pay taxes”.