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When Donald Trump joined the office of the president in the year 2017, numerous companies, particularly the technology or the automotive industry, had to prepare for changes which were bound to occur. While Tesla was on Trumpās side, certainly the electric car manufacturer was not the only winner under Trumpās administration, other industries and companies have also profited as a result of his policies. From tax reforms to regulatory measures, Trump had all such economic options which did not bring the good to just the electric automobiles alone but made a general favorable impact on numerous industries. In this blog, we will analyze, how different industries and companies flourished throughout the duration of Trump as the president in order to emphasize that Tesla was not the only one who gained benefits.
1. Corporate Tax Cuts. Better Too High Corporate Welfare Spending.
One of the main aspects Trumpās purview and one of the notable achievements in the economy was adopting through Congress the Tax Cuts and Jobs Act in 2017. Among the major changes was lowering the corporate tax rate from 35 % to 21 %. This change in taxation made it possible for businesses to enjoy more surpluses, which they would reinvest in the economy, expand the business and raise returns.
Other major companies which included oil and gas companies, banks, and technological companies have been the greatest beneficiaries of the refund. For example, there was an increase in earnings among companies like Apple and Microsoft. In particular, Apple repatriated billions of dollars earned in foreign sales due to a one time tax incentive on foreign income earned. This resulted in massive investments by tech companies in research and development and expansion hence bettering their market competitiveness.
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The tax cuts also promoted other sectors such as banking, real estate, and health care. There was an increased profit for major banks like JP Morgan Chase and Wells Fargo. They managed to invest on new technologies and also lessen regulatory compliance burden. Pharmaceutical and health care firms also profited from lower taxes hence improving their profits.
2. Deregulation: The Boon for Energy and Manufacturing
The Trump administration took an activist approach with a focus on deregulation that aimed at achieving widespread impact in many industries. The rationale behind these policies was to ease business operations by removing red tape and cutting several environmental regulations implemented during the Obama administration. Relaxation policies also presented opportunities for industries that had suffered stunted growth because of strict environmental policies in the former policies that included the energy industry.
Major natural gas and oil producers reported a significant bounce back. With Trumpās inclination to further develop fossil fuels, there was increased domestic drilling for oil and gas. Companies like ExxonMobil and Chevron had been operating in a more controlled environment that became relaxed and thus were more productive and realizable higher profits. On top of that, the government pulled out from the Paris Agreement that many in the fossil fuels industry considered a hindrance towards progress.
Other industries that also fall in this category are the manufacturing industries that benefited from Donald Trumpās regime. Through deregulations and tax cuts, the Trump administration was also able to lure companies to reshore their manufacturing industries back to the United States. Even certain industries like steel manufacturers were favored due to a more relaxed environmental restriction and lower operational expenses. This caused an increase in employment in some places and reconstruction in American manufacturers.
3. The Surge of The Stock Market- A Major Win For Investors and Wall Street.
During Trumpās presidency, the stock market experienced an upward trend and growth. The first two years witnessed the Dow Jones, S&P 500, and Nasdaq reach new highs. Individual investors, especially in the tech industry, benefited as these pro-business policies strengthened their portfolios.
According to Trump, the tax cuts that came with his deregulation were some of the primary reasons that caused the surge in the stock market. It changed investorās perception that companies would thrive in this non-restrictive environment and subsequently helped increase investments into the stock markets more. It was in Trumpās first term that tech companies, Amazon, Google and Facebook were able to enjoy high stock valuations. They were also able to increase their market share, employment rolls and overall invoke their hegemony on the world stage.
A number of American citizens experienced an increase in the value of their investments and their 401 (k) accounts, which in turn fostered an improvement in household wealth and financial security.
4. Real estate: Another hot Potatoes for the Forerunner.
Having come from the real estate sector, Trump was animated to see the case for the sector. . For one, the corporate tax cuts made it possible to invest in commercial real estate, especially constructing more office buildings and retail centers. Developers viewed the decrease in corporate taxation as a cue to construct and invest in more properties.
Commercial banks havenāt been left behind either as they market property development in overhead and operational expenses in tax. The low rates have brought the retail space home making it easier for those in the US to both buy property and pay off mortgages as well.n-sense barā of constructing properties especially in metropolitan regions. This encouraged more residential and commercial building activities. Manufacturing in USA: An Inconsistent Picture
The policies of the Trump administration, and more specifically, his āAmerica Firstā approach, had an effect on the relations between the US and China. The administration backed tariffs on certain imports with the hope of moving more manufacturing jobs to America. Some industries did gain, such as the steel industry that benefited from tariffs on imported steel. There was also a small gain for domestic manufacturers in the US as companies attempted to lower expenses by relocating production to domestic bases.
On the other hand, many industries experienced varying effects because of a trade war.
Conclusion: The Search for Significant Growth Beyond Teslaās Contribution
With time, Trumpās presidency comes to an end, but not without leaving an economic say on the US economy. As time goes by and his presidency is over, the consequences of his actions will still be witnessed as businesses, industries, and companies that were thriving during his rule make room for new challenges and aspects.
To wrap up, the story of the success of Tesla is one of many but there is always an economic winner which are Trumpās policies in a whole range of businesses already forming the future of the US economy. Click here for the source
