Donald Trump achievements: Economic policy and labor

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Official presidential photo of President Donald Trump
Main article: Donald Trump achievements

This article is a non-exhaustive list of achievements by U.S. President Donald Trump, his administration, and Congress related to economic and labor policy.

    This article has been split, by year, into sub-articles to better manage the long list of achievements.

2017

See: Donald Trump achievements: Economic policy and labor (2017)

The U.S. economy rebounded during President Trump's first year in office under his MAGAnomics policies.[1] As an illustration of that economic growth in 2017, the Spectrem Group estimated that it caused the country to gain 700,000 new millionaires that year.[2]

Among President Trump's 2017 economic and labor policy achievements:

  • Signing several Congressional Review bills repealing Obama Administration regulations.
  • Signing a major $1.5 trillion tax cut bill into law that lowered both income and corporate taxes in addition to repealing significantly reduced the ObamaCare individual mandate, among other changes.
  • Repealing numerous Obama-era economic regulations.
  • Overseeing a rapidly-growing economy.

2018

See: Donald Trump achievements: Economic policy and labor (2018)

By May 2018, the Trump Administration had taken numerous steps to reduce banking regulations, both through legislation and through executive actions.[3] It also continued advancing economic nationalist policies.[4] It took steps to roll back the Obama Administration's labor policy.[5]

The U.S. economy, under MAGAnomics, continued growing and beating expectations,[6] and it performed better than the economies of many European and Asian countries.[7] Even many Democrats recognized that the economy was performing well under President Trump.[8] The economic growth helped President Trump in his trade actions, and it despite the fears of anti-tariff economists.[9] Between the beginning of Trump's presidency and the end of 2018, 4.8 million Americans joined the workforce.[10]

Among President Trump's 2018 economic and labor policy achievements:

  • Signing a bill repealing some financial regulations put into place under the Dodd–Frank law, the largest change to U.S. banking regulations since Dodd–Frank.[11]
  • Taking actions to reform federal workforce rules and to empower workers over labor unions.
  • Continuing to repeal numerous Obama Administration economic regulations.
  • Continuing to oversee strong economic growth.

2019

See: Donald Trump achievements: Economic policy and labor (2019)

By 2019, President Trump had created a strong bond between him and blue-collar workers, enough to make labor union leaders worried.[12] The National Labor Relations Board made several pro-worker and pro-employer rulings at the expense of labor unions.[13] President Trump's policies began to "to shift the model of inflation" to one more aligned with economic nationalism.[14]

The U.S. economy, under President Trump's MAGAnomics, continued its strong growth in 2019.[15] Between November 2016 and the end of January 2019, over 5.3 million new jobs were created.[16] The Council of Economic Advisers reported in March 2019 that 71% of newly-employed people under the Trump Administration came from outside the labor force,[17] and the labor force continued expanding despite predictions that the opposite would happen.[18] By March 2019, the economy under President Trump averaged lower unemployment than any other president at that point in their respective presidencies.[19] In July 2019, the economic boom broke the record for the longest period of economic expansion in United States history.[20] U.S. companies outperformed companies in other countries in their market value,[21] and economists labeled the overall U.S. economy as a "bright spot" in the world.[22] American stocks also outperformed stock markets of other countries.[23] The strong economic growth also benefited veterans,[24] and blue-collar employment reached the best level in fifty years.[25]

By the end of 2019, the average unemployment rate under President Trump reached the lowest level ever recorded.[26]

Among President Trump's 2019 economic and labor policy achievements:

  • Advancing policies to reduce economic regulations and empower workers over labor unions.
  • Overseeing a rapidly-growing economic that saw new records in stock market growth, employment levels, consumer and business confidence, and job openings, among other positive data.

2020

See: Donald Trump achievements: Economic policy and labor (2020)

Under MAGAnomics, the American economy continued growing and performing strongly.[27]

References

  1. Multiple references: See also:
  2. Multiple references:
  3. Multiple references:
  4. Ip, Greg (July 20, 2018). President's Emerging Economic Policy: Picking Winners and Losers. The Wall Street Journal. Retrieved July 21, 2018.
    See also:
  5. Higgins, Sean (October 23, 2018). Trump administration set to scrap much of Obama's labor legacy in 2019. Washington Examiner. Retrieved October 23, 2018.
  6. Multiple references: For example, the February 2018 jobs report: The economy did not exceed expectations in March 2018, though the data still showed a strong market: See also:
  7. Multiple references: Specifically regarding the stock market: See also:
  8. Parnes, Amie (May 12, 2018). Dems worry Trump will win over economy. The Hill. Retrieved May 13, 2018.
    See also: However, the media tried to attribute the economic growth to Obama:
  9. Multiple references:
  10. Mansour, Rebecca (January 4, 2019). 4.8 Million More Americans Employed Since Trump Took Office. Breitbart News. Retrieved January 4, 2019.
  11. Multiple references:
  12. Multiple references: See also:
  13. Multiple references: See also:
  14. Ring, Edward (September 19, 2019). Toward a Nationalist Economic Policy. American Greatness. Retrieved September 22, 2019.
    See also:
  15. Multiple references: See also: Other positive economic trends: Other policies:
  16. Carney, John (February 5, 2019). Fact Check: U.S. Economy Created 5.3 Million New Jobs Since November 2016. Breitbart News. Retrieved February 6, 2019.
  17. Moons, Michelle (March 19, 2019). 71% Entering Employment Came from Outside Labor Force Under Trump. Breitbart News. Retrieved March 19, 2019.
  18. Timiraos, Nick; Chaney, Sarah (March 23, 2019). Fueled by Strong Economy, U.S. Labor Force Defies Projected Declines. The Wall Street Journal. Retrieved March 27, 2019.
    See also:
  19. Klein, Philip (April 5, 2019). Trump economy has averaged lower unemployment than any previous president at this point in their presidencies. Washington Examiner. Retrieved April 5, 2019.
  20. Multiple references: See also:
  21. Akan, Emel (September 3, 2019). US Companies Outperform Global Peers in Valuation. The Epoch Times. Retrieved September 3, 2019.
  22. Akan, Emel (October 20, 2019). US Economy a ‘Bright Spot’ in Global Outlook. The Epoch Times. Retrieved October 21, 2019.
  23. Ramkumar, Amrith (November 4, 2019). U.S. Stocks Outpacing the Rest of the World. The Wall Street Journal. Retrieved November 4, 2019.
  24. Multiple references:
  25. Multiple references:
  26. Klein, Philip (January 10, 2020). Trump's average unemployment rate is the lowest in recorded history. Washington Examiner. Retrieved January 10, 2020.
  27. Multiple references: See also: