The Trickle-Down Effects of Trump's Policies
Since his inauguration, President Donald Trump has begun instituting policies that isolate the United States from the global community. This insulation is seen through the "travel ban" which has had chilling effects on immigration, as well as the decision to depart the Paris Climate Accord. President Trump has done this under the philosophy that these policies support American interests and its sovereignty.
August 17, 2017 at 12:00 AM
10 minute read
Since his inauguration, President Donald Trump has begun instituting policies that isolate the United States from the global community. This insulation is seen through the “travel ban” which has had chilling effects on immigration, as well as the decision to depart the Paris Climate Accord. President Trump has done this under the philosophy that these policies support American interests and its sovereignty. Lloyd Blankfein, the CEO of Goldman Sachs, issued tweets in response to the departure from the Paris Accord, which opine that our nation's leadership position on a global scale has resulted in English being the dominant language in business and the dollar being its currency, and a departure from this leadership position would be negative for the United States.
When reading between Blankfein's 140 characters and emojis, he is taking a concerned tone as to the future of the United States. He is considering that it took the United States decades to gain its position as the international leader, to have English be the recognized language of business, and the dollar being its currency. Trump is taking this status for granted when issuing these isolated policies. By not seeing the forest for the trees, the United States will ultimately see a decline in its position in the world—although it may take decades to get there.
Another example of the U.S. backing away from its global leadership position is the delayed international entrepreneur rule (IER), which would have made the United States an attractive location for global entrepreneurs. IER addressed a gap in U.S. immigration procedures that prevents significant public benefits. The IER would allow foreign entrepreneurs to be able to start their businesses in the United States, provided they can demonstrate a substantial potential for business growth and job creation, including funding thresholds. The implementation of IER was originally set to take effect in July 27, but has been delayed until March 14, 2018, at which point the Department of Homeland Security may rescind the rule entirely.
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