Trump’s Economic Agenda: Past Achievements and Future Goals for Inflation Control in the US

No matter what others say, the United States remains a superpower, with its stance influencing global order. 

On November 5, Americans cast their votes in the presidential election, choosing between Republican candidate Donald Trump and Democratic candidate Kamala Harris. The New York Times estimated a 91% chance of victory for Trump.

While significant foreign policy challenges persist, such as the conflict in Ukraine and turmoil in the Middle East, Americans were primarily focused on handling domestic issues, particularly the economy.

This emphasis is unsurprising, as nearly every voter has felt the impact of the highest inflation rates seen in decades. In addition, a growing number of Americans are struggling to afford housing, which has shifted from being an integral part of the “American Dream” to an increasingly unattainable luxury, especially for young families.

It’s clear that Trump’s election will bring changes to both U.S. domestic and foreign policy. It’s equally evident that these changes will affect Ukraine, which relies on American support in its conflict with Russia. So, what’s on Trump’s mind anyway? Can we expect changes for better or will it get even worse? Let’s start with the so-called Trump agenda 47.

What Is Agenda 47? What Does It Mean for the United States?

In his “Agenda 47,” Donald Trump lays out a comprehensive plan for his return to the White House, which includes ideas that cover a wide range of topics, including:

• Employment
• Energy
• Immigration
• International relations
• Educational sector
• Climate & surrounding

Among the radical changes that are on the agenda are the prohibition of “critical race theory” in educational institutions, the tightening of immigration restrictions, and the withdrawal of the United States from the Paris Climate Accord. Some initiatives may require congressional approval, while others might be enacted by executive order.

Agenda 47 Trump: Take Care of the Climate

Reversing existing climate policy is a defining characteristic of Agenda 47. Trump has committed to withdrawing the United States from the Paris Climate Agreement and eliminating constraints established by the current administration of President Joe Biden, with the objective of enhancing fossil fuel output. Massive scale up of oil and gas production is also included. Donald Trump programme also targets 67% of new vehicles to be electric by 2032.

His energy strategy entails augmenting oil and gas extraction by permitting exploration on federal areas, terminating electric vehicle incentives, and relaxing emissions regulations for the automobile sector. According to him, these steps will reduce home utility expenses, despite US energy output under Biden already achieving historic levels.

Trump 2025 Agenda: Study, Study, & Study!

Trump’s proposals for K-12 schools include the following: 

• The election of school principals by parents
• The reduction of federal funding to schools that teach “critical race theory” 
• The abolition of teacher tenure
• The establishment of a new credentialing body that will only certify teachers who “adhere to patriotic values”
• The promotion of prayer in schools, the facilitation of the expulsion of “out-of-control troublemakers” 

Finally, it’s about the sponsorship of school districts that permit teachers to carry concealed firearms and the promotion of “school choice” policies.

A few words about universities… Trump has suggested the abolition of current accreditors for colleges and universities in favor of the establishment of new ones that adhere to his party’s principles. Additionally, he has suggested the imposition of substantial fines on colleges and universities that he believes “discriminate” against students. 

“The fines would be allocated to the establishment of a free online “American Academy” that would “cover the full spectrum of human knowledge and skills.”

Donald Trump Agenda: No More Crime?

An uncompromising stance is outlined in Donald Trump 2025 agenda regarding immigration. The implementation of a nationwide “catch-and-release” ban, the reinstatement of a travel ban for specific countries, the discontinuation of birthright citizenship for children of undocumented immigrants, and the prohibition of undocumented immigrants from accessing public benefits are among the key policies. In addition, Trump immigration plan involves closing the southern border to asylum seekers and suspending visa programs, including family visas and the visa lottery).

Trump wants to increase police force protections and implement “stop and frisk.” He wants federal soldiers to “restore law and order” where local law enforcement “refuses to act” against drug dealers, gangs, and human traffickers. Trump wants the death sentence for major drug offenses.

Trump 47 Agenda: An Apple a Day… Keeps Trump Away?

In Trump healthcare plan, the country’s leader is advocating for federal agencies to give priority to the purchase of medicines and equipment created in the United States. Additionally, he is proposing that pharmaceutical companies be required to provide medications to the United States at the “best price” that is offered to buyers from other countries.

Despite the fact that it is in line with these overarching objectives, Trump healthcare plan 2024 proposes modifications to Medicare and Medicaid that, according to its detractors, could result in a shift of financial obligations to Americans with lower incomes. This goal should be achieved in the upcoming 2025 year.

As for the Trump economic plan, one of Agenda 47’s economic recommendations is to impose baseline tariffs on imported goods, with higher rates for countries with “unfair trade practices.” This would help domestic manufacturing. In addition to a lowering of corporation taxes from 21% to 15% under Trump 2025 plan, tax cuts would target the working class by eliminating taxes on gratuities and overtime.

That’s not all for the Trump tax plan. In an extreme move toward a flat tax and the creation of two federal income tax rates, Project 2025 proposes a tax reform package.

Social Aspects: Who Will Protect Their Rights?

Sure, 2025 Trump agenda covers some critical social issues. For instance, Trump opposes transgender rights, calling for any healthcare provider providing gender-affirming care for youth to be terminated from Medicare and Medicaid, stripping federal funding from any school where an official or teacher suggests a child could be “trapped in the wrong body,” and encouraging Congress to pass legislation saying “the only genders recognized by the U.S. government are male and female—and they are assigned at birth.

Another important point is homelessness. Trump wants to work with states to ban “public camping” by homeless people and give them the choice of treatment or arrest, and he wants to create large “tent cities” with doctors, social workers, and mental health facilities.

What Is Trump`s Project 2025?

A question weighing on the minds of people worldwide is: what will happen to the dollar, which plays a central role in most global economies? Answering this is no simple task, as it requires an in-depth analysis of current and past economic trends in the U.S. and other leading economies. More importantly, it depends on the specific economic policies that the newly elected U.S. president will choose to pursue. No doubt, now it heavily depends on programme Trump.

Interestingly, like in his previous term, Trump enjoys party support in both the Senate and Congress. However, he now has the experience of leveraging this support more effectively, which he is likely to use to implement changes in both domestic economic policy and international markets.

A continuation of the trade war with China and other competing economies is also a probable scenario, with Trump promising to impose additional tariffs on all imported goods, likely ranging from 10-20%. Tariffs on Chinese products could reach as high as 60%, while U.S. companies relocating production to Mexico might face staggering tariffs of 100-200%.

Once again, according to agenda 47 Donald Trump, he is expected to reduce taxes on businesses—a policy that garnered criticism from Democrats and one he enacted in his prior term. This move is likely to be repeated, aiming to stimulate business growth and investment within the country.

Countries subject to new tariffs are likely to respond with reciprocal tariffs on U.S. goods, which could significantly reduce American exports. How this might ultimately impact the U.S. and global economy remains difficult to predict.

Furthermore, Trump’s stance on illegal immigration—a priority during his last term—is expected to continue as per the 2025 Trump plan. He has pledged to deport all undocumented immigrants, of which there are an estimated 11 million in the U.S. While this could open more job opportunities for American citizens, it would also impact sectors that rely on low-cost, low-skilled labor, potentially creating labor shortages and increasing costs for certain industries.

Will Trump vs Harris economic plan be effective? The overall impact of the policies listed in the 2025 plan Trump remains uncertain, but many Americans back Trump because they believe his approach could effectively combat economic stagnation and inflation. In recent years, inflation has reached a 40-year high of 9%, and Trump’s pledge to bring this down to a more manageable 2-3% resonates strongly with voters.

In examining the question of how Trump’s election will affect the dollar, initial global market reactions offer some clues. As soon as news of Trump’s victory broke, the dollar index, which tracks the dollar’s strength against other currencies, rose by 1.14%.

Major stock indexes also surged on November 6: the S&P 500, reflecting the value of the 500 largest U.S. companies, grew by 1.2%, NASDAQ by 1.4%, and the Dow Jones by 1%. It’s impossible to ignore the Trump plan crypto as well. The cryptocurrency market showed similar optimism, with Bitcoin jumping 9% and Ethereum increasing by 7.2%. Oil also responded, with Brent prices dropping by 1.2%.

What Is Trump’s Involvement? Final Thoughts

Overall, the dollar is expected to strengthen, as projected by leading economists. Additionally, Trump’s promised tariff hikes may contribute to inflation, which could push the Federal Reserve to halt any ongoing easing of monetary policy to counterbalance rising prices.

A number of different financial instruments, including cryptocurrencies, might also receive a boost as a result of Trump’s promise to make the United States the “crypto capital of the planet.”

With that being said, a significant portion of these projections are contingent on Trump’s ability to carry through changes to the tax code, regulations, and other laws.

“Virtually all of these policies will be tough to implement, even with Republican control over the House, the Senate, and the presidency,” according to the president. “With that in mind, we might not see much change at all in the broader economy.”

He made the observation that “Inaction from the next Trump administration could mean that the economy continues to chug along its current course.”