Trump’s conflicting business policies spur uncertainties

Feb 13, 2025, 06:22 am

		0
U.S. President Donald Trump holds up an executive order he signed in the Oval Office of the White House in Washington, D.C., on Feb. 10, 2025./ Source: AFP·Yonhap News"

Washington correspondent Ha Man-joo

U.S. President Donald Trump is making economic marks within three weeks of his presidency that other presidents have taken years to establish, yet his conflicting economic policies are increasing uncertainty, reported the Wall Street Journal (WSJ) on Tuesday.

Companies are hopeful about the Trump administration's focus on reviving fossil fuels, tax cuts, and deregulation, but confusion surrounding high tariffs, immigrant deportations, and federal government downsizing is dampening optimism.

Trump's pro-business and fossil fuel agenda has excited companies that announced billions of dollars in investments.

However, the impact of high additional tariffs and mass deportation of immigrants is causing workforce supply issues for some businesses.

The goal of Trump administration seems to be reducing imports, immigrants, and the role of the federal government while expanding private investment. However, WSJ pointed out that the implementation of these policies is causing significant uncertainty among business owners, workers, and trade partners, potentially hindering growth at least temporarily.

Despite this, there is high hope that the success of Trump's first-term tariff policies will be replicated this time. WSJ explained, "The US economy has a record of resilience," adding, "During President Trump's first term, tariffs were imposed on washing machines, solar panels, steel, aluminum, and most Chinese imports, but the US economy remained robust until the pandemic hit, and inflation was kept low."

Regarding the immigration policy of the Trump administration, WSJ said, “The influx of immigrants slowed sharply last year, and President Trump started a massive deportation policy immediately upon taking office, affecting the overall economy."

#Trump #tariff #business policies