As the first term of Donald Trump’s presidency comes to a close, it’s clear that his administration has been marked by significant policy reversals and changes. One of the most notable reversals is his approach to trade policy, which initially was marked by a focus on protectionism but has since shifted towards a more free-market approach.

In his initial campaign, Trump promised to renegotiate existing trade deals and impose tariffs on countries that weren’t cooperating with the US. He famously imposed tariffs on imported steel and aluminum, citing national security concerns. However, as the tariffs took their toll on the steel and aluminum industries, as well as other sectors, there were calls for a more nuanced approach.

In 2019, Trump signed the USMCA (United States-Mexico-Canada Agreement) trade deal, which maintained the core elements of the North American Free Trade Agreement (NAFTA) while making some minor adjustments. This marked a significant shift away from protectionism and towards a more free-market approach. Trump also approved the United States-Japan Trade Agreement (USJTA), which eliminated or reduced tariffs on many US exports to Japan, a significant step towards a more open market.

Another area where Trump’s administration has made significant progress is in deregulation. In keeping with his campaign promise to reduce bureaucratic red tape, the administration has rolled back numerous Obama-era regulations, freeing up businesses to innovate and grow. The most notable example is the Environmental Protection Agency’s (EPA) rollback of the Waters of the United States (WOTUS) rule, which limited businesses’ ability to operate near waterways. The move was seen as a victory for property rights advocates and a significant step towards diminishing the EPA’s overreach.

Additionally, the administration has taken steps to ease workplace rules, deferring the implementation of the Federal Labor Standards Act (FLSA) overtime regulations and scaling back the Department of Labor’s overtime rule. These moves have given employers more flexibility and allowed workers to have more control over their own schedules and work arrangements.

Finally, Trump’s immigration policy has also undergone a shift, from a more restrictive to a more targeted and selective approach. The administration initially implemented a more restrictive approach, including the controversial travel ban targeting predominantly Muslim-majority countries. However, by 2019, the administration had shifted its focus towards a more targeted and evidence-based approach, prioritizing skills and labor market needs over purely quantitative caps. For instance, the Department of Homeland Security announced changes to the H-1B visa program, aiming to divert more visas towards high-skilled workers and reduce the number of lower-skilled workers.

In conclusion, Trump’s presidency has been marked by significant policy reversals and changes, many of which have had a lasting impact on the country. While there have been some notable setbacks, such as the imposition of tariffs on imported steel and aluminum, the administration has also made significant strides towards a more free-market approach on trade and deregulation. As the administration looks to its second term, it will be crucial to continue to prioritize these principles, implementing real and lasting reforms that benefit not just American businesses and workers but also the global economy as a whole.