Trump

Definition

In finance, 'Trump' could refer to former U.S. President Donald Trump, whose policies and actions had significant impacts on both microeconomic and macroeconomic matters. His administration's tax cuts, deregulation efforts, and trade policies influenced financial markets and economic conditions globally.

5 Must Know Facts For Your Next Test

1. The Tax Cuts and Jobs Act of 2017, signed by President Trump, reduced the corporate tax rate from 35% to 21%, which aimed to stimulate investment and economic growth.
2. Trump's tariffs on Chinese goods led to a trade war that affected global supply chains and market stability.
3. Financial markets often reacted strongly to Trump's statements and decisions, demonstrating the impact of political leadership on investor confidence.
4. Deregulation under Trump's administration particularly benefited sectors like banking and energy by reducing compliance costs.
5. Economic growth during Trump's tenure saw fluctuations, with initial growth followed by a significant downturn due to the COVID-19 pandemic.

Review Questions

• How did the Tax Cuts and Jobs Act of 2017 impact corporate taxes?
• What were some of the economic effects of Trump's trade policies with China?
• In what ways did deregulation efforts under Trump’s administration influence specific industries?

Related terms

Tax Reform: Legislation intended to improve or amend existing tax laws in order to boost economic efficiency.

Trade War: A situation where countries impose tariffs or other barriers on each other's goods, often leading to negative economic consequences.

Deregulation: The reduction or elimination of government regulations in an industry with the aim of increasing efficiency and competition.