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First presidency of Donald Trump: Difference between revisions
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[[File:President Donald J. Trump at the G20 Summit (44300765490).jpg|thumb|right|Trump signs the [[United States–Mexico–Canada Agreement]] (USMCA) alongside Mexican president [[Enrique Peña Nieto]] and Canadian prime minister [[Justin Trudeau]] in [[Buenos Aires]], Argentina, November 30, 2018.]] | [[File:President Donald J. Trump at the G20 Summit (44300765490).jpg|thumb|right|Trump signs the [[United States–Mexico–Canada Agreement]] (USMCA) alongside Mexican president [[Enrique Peña Nieto]] and Canadian prime minister [[Justin Trudeau]] in [[Buenos Aires]], Argentina, November 30, 2018.]] | ||
[[File:Signing Ceremony Phase One Trade Deal Between the U.S. & China (49391434906).jpg|thumb|right|Trump and Chinese Vice Premier [[Liu He (politician)|Liu He]] sign the Phase One [[China–United States trade war|Trade Deal]], January 15, 2020.]] | [[File:Signing Ceremony Phase One Trade Deal Between the U.S. & China (49391434906).jpg|thumb|right|Trump and Chinese Vice Premier [[Liu He (politician)|Liu He]] sign the Phase One [[China–United States trade war|Trade Deal]], January 15, 2020.]] | ||
In March 2018, Trump imposed tariffs on [[solar panel]]s and [[washing machine]]s of 30–50%.<ref>{{#invoke:Cite news||last=Gonzales |first=Richard |date=January 22, 2018 |title=Trump Slaps Tariffs On Imported Solar Panels and Washing Machines |access-date=November 10, 2021 |url=https://www.npr.org/sections/thetwo-way/2018/01/22/579848409/trump-slaps-tariffs-on-imported-solar-panels-and-washing-machines |work=[[NPR]]}}</ref> In March 2018, he imposed tariffs on [[steel]] (25%) and [[aluminum]] (10%) from most countries,<ref>{{#invoke:Cite web||last=Horsley|first=Scott|date=March 8, 2018|title=Trump Formally Orders Tariffs on Steel, Aluminum Imports|url=https://www.npr.org/2018/03/08/591744195/trump-expected-to-formally-order-tariffs-on-steel-aluminum-imports |access-date=November 10, 2021 |work=[[NPR]]}}</ref><ref name="Long">{{#invoke:Cite news||last=Long|first=Heather|date=May 31, 2018|title=Trump has officially put more tariffs on U.S. allies than on China|newspaper=[[The Washington Post]]|url=https://www.washingtonpost.com/news/wonk/wp/2018/05/31/trump-has-officially-put-more-tariffs-on-u-s-allies-than-on-china/ |access-date=November 10, 2021}}</ref> which covered an estimated 4.1% of U.S. imports.<ref>{{#invoke:Cite news||last=Chance|first=David|date=March 5, 2018|title=Trump's trade tariffs: Long on rhetoric, short on impact?|work=Reuters |url=https://www.reuters.com/article/us-usa-trade-trump-rhetoric-analysis/trumps-trade-tariffs-long-on-rhetoric-short-on-impact-idUSKBN1GH37N |access-date=November 10, 2021}}</ref> On June 1, 2018, this was extended to the [[European Union]], [[Canada]], and [[Mexico]].<ref name="Long" /> In separate moves, the Trump administration has set and escalated tariffs on goods imported from | In March 2018, Trump imposed tariffs on [[solar panel]]s and [[washing machine]]s of 30–50%.<ref>{{#invoke:Cite news||last=Gonzales |first=Richard |date=January 22, 2018 |title=Trump Slaps Tariffs On Imported Solar Panels and Washing Machines |access-date=November 10, 2021 |url=https://www.npr.org/sections/thetwo-way/2018/01/22/579848409/trump-slaps-tariffs-on-imported-solar-panels-and-washing-machines |work=[[NPR]]}}</ref> In March 2018, he imposed tariffs on [[steel]] (25%) and [[aluminum]] (10%) from most countries,<ref>{{#invoke:Cite web||last=Horsley|first=Scott|date=March 8, 2018|title=Trump Formally Orders Tariffs on Steel, Aluminum Imports|url=https://www.npr.org/2018/03/08/591744195/trump-expected-to-formally-order-tariffs-on-steel-aluminum-imports |access-date=November 10, 2021 |work=[[NPR]]}}</ref><ref name="Long">{{#invoke:Cite news||last=Long|first=Heather|date=May 31, 2018|title=Trump has officially put more tariffs on U.S. allies than on China|newspaper=[[The Washington Post]]|url=https://www.washingtonpost.com/news/wonk/wp/2018/05/31/trump-has-officially-put-more-tariffs-on-u-s-allies-than-on-china/ |access-date=November 10, 2021}}</ref> which covered an estimated 4.1% of U.S. imports.<ref>{{#invoke:Cite news||last=Chance|first=David|date=March 5, 2018|title=Trump's trade tariffs: Long on rhetoric, short on impact?|work=Reuters |url=https://www.reuters.com/article/us-usa-trade-trump-rhetoric-analysis/trumps-trade-tariffs-long-on-rhetoric-short-on-impact-idUSKBN1GH37N |access-date=November 10, 2021}}</ref> On June 1, 2018, this was extended to the [[European Union]], [[Canada]], and [[Mexico]].<ref name="Long" /> In separate moves, the Trump administration has set and escalated tariffs on goods imported from China, leading to [[China–United States trade war|a trade war]].<ref>{{#invoke:Cite news||first1=Danielle |last1=Paquette |first2=David J. |last2=Lynch |first3=Emily |last3=Rauhala |title=As Trump's trade war starts, China retaliates with comparable tariffs of its own|url=https://www.washingtonpost.com/world/china-fires-back-at-us-tariffs-vows-to-defend-its-core-interests/2018/07/06/f42fc812-8091-11e8-a63f-7b5d2aba7ac5_story.html |date=July 6, 2018 |access-date=July 6, 2018|newspaper=[[The Washington Post]]}}</ref> The tariffs angered trading partners, who implemented retaliatory tariffs on U.S. goods,<ref>{{#invoke:Cite news||date=June 1, 2018|title=US tariffs a dangerous game, says EU|work=[[BBC News]]|url=https://www.bbc.com/news/business-44324565 |access-date=November 10, 2021}}</ref> and adversely affected real income and GDP.<ref>{{#invoke:Cite journal||last1=Amiti|first1=Mary|author1-link=Mary Amiti|last2=Redding|first2=Stephen J.|author2-link=Stephen Redding|last3=Weinstein|first3=David E.|author3-link=David E. Weinstein|year=2019|title=The Impact of the 2018 Tariffs on Prices and Welfare|journal=Journal of Economic Perspectives|volume=33|issue=Fall 2019|pages=187–210|doi=10.1257/jep.33.4.187|doi-access=free}}</ref> A CNBC analysis found that Trump "enacted tariffs equivalent to one of the largest tax increases in decades", while [[Tax Foundation]] and [[Tax Policy Center]] analyses found the tariffs could wipe out the benefits of the Tax Cuts and Jobs Act of 2017 for many households.<ref>{{#invoke:Cite web||title=Trump Tariffs Could Wipe Out Tax Cuts for Many Households|url=https://finance.yahoo.com/news/trump-tariffs-could-wipe-tax-142911498.html |work=Yahoo! Finance |date=May 16, 2019 |first=Michael |last=Rainey |access-date=November 8, 2021}}</ref><ref>{{#invoke:Cite web||date=May 14, 2019|title=For Many Households, Trump's Tariffs Could Wipe Out The Benefits of the TCJA|url=https://www.taxpolicycenter.org/taxvox/many-households-trumps-tariffs-could-wipe-out-benefits-tcja |first=Howard |last=Gleckman |access-date=November 10, 2021 |website=Tax Policy Center}}</ref> The two countries reached a "phase one" truce agreement in January 2020. The bulk of the tariffs remained in place until talks were to resume after the 2020 election. Trump provided $28 billion in cash aid to farmers affected by the trade war.<ref>{{#invoke:Cite news||last2=Daly |first1=Hallie |last1=Gu |first2=Tom |date=August 5, 2019 |title=U.S. farmers suffer 'body blow' as China slams door on farm purchases |newspaper=Reuters|url=https://www.reuters.com/article/us-usa-trade-china-agriculture-idUSKCN1UV0XJ |access-date=November 10, 2021}}</ref><ref>{{#invoke:Cite news||last1=Swanson|first1=Ana|last2=Rappeport|first2=Alan|date=June 23, 2020|title=Trump Signs China Trade Deal, Putting Economic Conflict on Pause|newspaper=The New York Times|url=https://www.nytimes.com/2020/01/15/business/economy/china-trade-deal.html |access-date=November 10, 2021}}</ref><ref>{{#invoke:Cite news||last=Rappeport|first=Alan|date=February 18, 2020|title=U.S. Watchdog to Investigate Trump's Farm Bailout Program|newspaper=The New York Times|url=https://www.nytimes.com/2020/02/14/us/politics/trump-farm-bailout-investigation.html |access-date=November 10, 2021}}</ref> Studies have found that the tariffs also adversely affected Republican candidates in elections.<ref>{{#invoke:Cite journal||last1=Blanchard|first1=Emily J|last2=Bown|first2=Chad P|last3=Chor|first3=Davin|date=2019|title=Did Trump's Trade War Impact the 2018 Election?|url=https://www.nber.org/papers/w26434 |publisher=[[National Bureau of Economic Research]] |journal=NBER Working Paper Series |series=Working Paper Series |doi=10.3386/w26434 |s2cid=207992615 |id=Working Paper 26434 |access-date=November 10, 2021}}</ref> An analysis published by ''The Wall Street Journal'' in October 2020 found the trade war did not achieve the primary objective of reviving American manufacturing, nor did it result in the [[reshoring]] of factory production.<ref>{{#invoke:Cite news||last=Zumbrun|first=Josh|date=October 25, 2020|title=China Trade War Didn't Boost U.S. Manufacturing Might|newspaper=The Wall Street Journal|url=https://www.wsj.com/articles/china-trade-war-didnt-boost-u-s-manufacturing-might-11603618203 |access-date=November 10, 2021}}</ref> | ||
Three weeks after Republican senator [[Chuck Grassley]], chairman of the [[Senate Finance Committee]], wrote an April 2019 ''Wall Street Journal'' op-ed entitled "Trump's Tariffs End or His Trade Deal Dies", stating "Congress won't approve [[USMCA]] while constituents pay the price for Mexican and Canadian retaliation," Trump lifted steel and aluminum tariffs on Mexico and Canada.<ref>{{#invoke:Cite news||last1=Salama|first1=Vivian|last2=Zumbrun|first2=Josh|last3=Mackrael|first3=Kim|date=May 17, 2019|title=U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum Tariffs|newspaper=Wall Street Journal|url=https://www.wsj.com/articles/u-s-close-to-deal-with-canada-mexico-to-end-steel-and-aluminum-tariffs-11558110448 |access-date=November 10, 2021}}</ref> Two weeks later, Trump unexpectedly announced he would impose a 5% tariff on all imports from Mexico on June 10, increasing to 10% on July 1, and by another 5% each month for three months, "until such time as illegal migrants coming through Mexico, and into our Country, STOP".<ref>{{#invoke:Cite news||last1=Karni|first1=Annie|last2=Swanson|first2=Ana|last3=Shear|first3=Michael D.|date=May 30, 2019|title=Trump Says U.S. Will Hit Mexico With 5% Tariffs on All Goods|newspaper=The New York Times|url=https://www.nytimes.com/2019/05/30/us/politics/trump-mexico-tariffs.html |access-date=November 10, 2021}}</ref> Grassley commented the move as a "misuse of presidential tariff authority and counter to congressional intent".<ref>{{#invoke:Cite news||title=Trump says U.S. to impose 5 percent tariff on all Mexican imports beginning June 10 in dramatic escalation of border clash|url=https://www.washingtonpost.com/immigration/trump-prepares-to-threaten-mexico-with-new-tariffs-in-attempt-to-force-migrant-crackdown/2019/05/30/0f05f01e-8314-11e9-bce7-40b4105f7ca0_story.html |first1=Damian |last1=Paletta |first2=Nick |last2=Miroff |first3=Josh |last3=Dawsey |date=May 30, 2019 |access-date=November 10, 2021 |newspaper=[[The Washington Post]]}}</ref> That same day, the Trump administration formally initiated the process to seek congressional approval of USMCA.<ref>{{#invoke:Cite web||title=Trump Pushes USMCA Approval Plan in Move That Irks Pelosi|url=https://www.bloomberg.com/news/articles/2019-05-30/trump-plows-ahead-with-usmca-approval-plan-as-democrats-waver |access-date=November 10, 2021 |date=May 30, 2019 |first1=Jenny |last1=Leonard |first2=Erik |last2=Wasson |website=[[Bloomberg LP]]}}</ref> Trump's top trade advisor, [[Office of the United States Trade Representative|U.S. Trade Representative]] [[Robert Lighthizer]], opposed the new Mexican tariffs on concerns it would jeopardize passage of USMCA.<ref>{{#invoke:Cite news||last1=Salama |first1=Vivian |last2=Mauldin |first2=William |last3=Lucey |first3=Catherine |date=June 1, 2019|title=Trump's Threat of Tariffs on Mexico Prompts Outcry |access-date=November 10, 2021 |newspaper=[[Wall Street Journal]] |url=https://www.wsj.com/articles/trumps-top-trade-adviser-opposed-mexican-tariffs-11559320692}}</ref> Treasury secretary Steven Mnuchin and Trump senior advisor Jared Kushner also opposed the action. Grassley, whose committee is instrumental in passing USMCA, was not informed in advance of Trump's surprise announcement.<ref>{{#invoke:Cite news||title=Trump defies close advisers in deciding to threaten Mexico with disruptive tariffs|url=https://www.washingtonpost.com/politics/trump-defies-close-advisers-in-deciding-to-threaten-mexico-with-disruptive-tariffs/2019/05/31/d87ae82c-83ba-11e9-bce7-40b4105f7ca0_story.html |first1=Seung Min |last1=Kim |first2=Josh |last2=Dawsey |first3=Damian |last3=Paletta |date=May 31, 2021 |access-date=November 10, 2021 |newspaper=[[The Washington Post]]}}</ref> On June 7, Trump announced the tariffs would be "indefinitely suspended" after Mexico agreed to take actions, including deploying its [[National Guard (Mexico)|National Guard]] throughout the country and along its southern border.<ref>{{#invoke:Cite news||last1=Shear|first1=Michael D.|last2=Swanson|first2=Ana|last3=Ahmed|first3=Azam|date=June 7, 2019|title=Trump Calls Off Plan to Impose Tariffs on Mexico|newspaper=The New York Times|url=https://www.nytimes.com/2019/06/07/us/politics/trump-tariffs-mexico.html |access-date=November 10, 2021}}</ref> ''The New York Times'' reported the following day that Mexico had actually agreed to most of the actions months earlier.<ref>{{#invoke:Cite news||last1=Shear|first1=Michael D. |last2=Haberman |first2=Maggie |date=June 8, 2019|title=Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal |newspaper=The New York Times |url=https://www.nytimes.com/2019/06/08/us/politics/trump-mexico-deal-tariffs.html |access-date=November 10, 2021}}</ref> | Three weeks after Republican senator [[Chuck Grassley]], chairman of the [[Senate Finance Committee]], wrote an April 2019 ''Wall Street Journal'' op-ed entitled "Trump's Tariffs End or His Trade Deal Dies", stating "Congress won't approve [[USMCA]] while constituents pay the price for Mexican and Canadian retaliation," Trump lifted steel and aluminum tariffs on Mexico and Canada.<ref>{{#invoke:Cite news||last1=Salama|first1=Vivian|last2=Zumbrun|first2=Josh|last3=Mackrael|first3=Kim|date=May 17, 2019|title=U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum Tariffs|newspaper=Wall Street Journal|url=https://www.wsj.com/articles/u-s-close-to-deal-with-canada-mexico-to-end-steel-and-aluminum-tariffs-11558110448 |access-date=November 10, 2021}}</ref> Two weeks later, Trump unexpectedly announced he would impose a 5% tariff on all imports from Mexico on June 10, increasing to 10% on July 1, and by another 5% each month for three months, "until such time as illegal migrants coming through Mexico, and into our Country, STOP".<ref>{{#invoke:Cite news||last1=Karni|first1=Annie|last2=Swanson|first2=Ana|last3=Shear|first3=Michael D.|date=May 30, 2019|title=Trump Says U.S. Will Hit Mexico With 5% Tariffs on All Goods|newspaper=The New York Times|url=https://www.nytimes.com/2019/05/30/us/politics/trump-mexico-tariffs.html |access-date=November 10, 2021}}</ref> Grassley commented the move as a "misuse of presidential tariff authority and counter to congressional intent".<ref>{{#invoke:Cite news||title=Trump says U.S. to impose 5 percent tariff on all Mexican imports beginning June 10 in dramatic escalation of border clash|url=https://www.washingtonpost.com/immigration/trump-prepares-to-threaten-mexico-with-new-tariffs-in-attempt-to-force-migrant-crackdown/2019/05/30/0f05f01e-8314-11e9-bce7-40b4105f7ca0_story.html |first1=Damian |last1=Paletta |first2=Nick |last2=Miroff |first3=Josh |last3=Dawsey |date=May 30, 2019 |access-date=November 10, 2021 |newspaper=[[The Washington Post]]}}</ref> That same day, the Trump administration formally initiated the process to seek congressional approval of USMCA.<ref>{{#invoke:Cite web||title=Trump Pushes USMCA Approval Plan in Move That Irks Pelosi|url=https://www.bloomberg.com/news/articles/2019-05-30/trump-plows-ahead-with-usmca-approval-plan-as-democrats-waver |access-date=November 10, 2021 |date=May 30, 2019 |first1=Jenny |last1=Leonard |first2=Erik |last2=Wasson |website=[[Bloomberg LP]]}}</ref> Trump's top trade advisor, [[Office of the United States Trade Representative|U.S. Trade Representative]] [[Robert Lighthizer]], opposed the new Mexican tariffs on concerns it would jeopardize passage of USMCA.<ref>{{#invoke:Cite news||last1=Salama |first1=Vivian |last2=Mauldin |first2=William |last3=Lucey |first3=Catherine |date=June 1, 2019|title=Trump's Threat of Tariffs on Mexico Prompts Outcry |access-date=November 10, 2021 |newspaper=[[Wall Street Journal]] |url=https://www.wsj.com/articles/trumps-top-trade-adviser-opposed-mexican-tariffs-11559320692}}</ref> Treasury secretary Steven Mnuchin and Trump senior advisor Jared Kushner also opposed the action. Grassley, whose committee is instrumental in passing USMCA, was not informed in advance of Trump's surprise announcement.<ref>{{#invoke:Cite news||title=Trump defies close advisers in deciding to threaten Mexico with disruptive tariffs|url=https://www.washingtonpost.com/politics/trump-defies-close-advisers-in-deciding-to-threaten-mexico-with-disruptive-tariffs/2019/05/31/d87ae82c-83ba-11e9-bce7-40b4105f7ca0_story.html |first1=Seung Min |last1=Kim |first2=Josh |last2=Dawsey |first3=Damian |last3=Paletta |date=May 31, 2021 |access-date=November 10, 2021 |newspaper=[[The Washington Post]]}}</ref> On June 7, Trump announced the tariffs would be "indefinitely suspended" after Mexico agreed to take actions, including deploying its [[National Guard (Mexico)|National Guard]] throughout the country and along its southern border.<ref>{{#invoke:Cite news||last1=Shear|first1=Michael D.|last2=Swanson|first2=Ana|last3=Ahmed|first3=Azam|date=June 7, 2019|title=Trump Calls Off Plan to Impose Tariffs on Mexico|newspaper=The New York Times|url=https://www.nytimes.com/2019/06/07/us/politics/trump-tariffs-mexico.html |access-date=November 10, 2021}}</ref> ''The New York Times'' reported the following day that Mexico had actually agreed to most of the actions months earlier.<ref>{{#invoke:Cite news||last1=Shear|first1=Michael D. |last2=Haberman |first2=Maggie |date=June 8, 2019|title=Mexico Agreed to Take Border Actions Months Before Trump Announced Tariff Deal |newspaper=The New York Times |url=https://www.nytimes.com/2019/06/08/us/politics/trump-mexico-deal-tariffs.html |access-date=November 10, 2021}}</ref> | ||