Last week, Donald Trump celebrated his 100 days into his presidency. The sentiment was far from triumphant. The list of goals that Trump presented before his election, the ones that were supposed to be completed by his 100th day at The White House, were left unfulfilled.
Clearly, the signing of 30 executive orders has created the image of progress and effectiveness. But, even if the number seems high –and it is, in comparison to former presidents–, most of them are simply orders to write reports and provide policy recommendations. Just a few will have a long-term impact and, among them, are some that have already been revoked. Aside from the executive orders, most of Trump’s actions have been towards reversing previous Obama’s regulations.
The “100-day action plan” that Trump presented at Gettysburg, Pennsylvania, included the withdrawal from the Trans-Pacific Partnership, the building of the Keystone oil pipeline, and the border wall with Mexico. It also mentioned the labeling of China as a currency manipulator, the replacement of Obamacare, an important tax revision, and getting the funding for infrastructure. Of the goals on that list, only the withdrawals from the TPP, and the building of the Keystone oil pipeline have come to fruition. Even so, for the United States, the TPP had little to no importance.
At first, Trump’s election increased the optimism of investors, trusting that he would decrease tax rates on major companies. However, they have come to the realization that his policies won’t be that easy to implement. Although the performance of big companies spiked on December 2016 through January 2017, recent weeks show levels of performance close to the ones before the elections. The same happened with the figures of financial institutions and inflation expectations.
According to analysts from The Economist, Trump’s approval rating among Republicans depends on the acceleration of the economy. If recent weeks are an indication of what’s next to come, his Cabinet should forget about executive orders and unpopular economic policies, and more worry about uniting the Republican Party and strengthening Congressional support.
LatinAmerican Post | Juan Sebastián Torres