Trump Swaps Allies in First 100 Days
In a speech on Saturday in honor of his 100th day of being President, Donald Trump met with supporters at a rally in Harrisburg, Pennsylvania and gave a list of his accomplishments, while critiquing the response of the media and his political opposition. The President attended the rally instead of participating in the White House Correspondents Association dinner, which marks the first time that a sitting President did not participate in the event. Trump also pledged to continue his attempts to bring his campaign goals to fruition, despite making significant detours from his original stances on China and NAFTA in the past few weeks.
Is the 100 Days Timeframe Still Valid?
Trump himself mentioned that the typical evaluation timeframe of 100 days post-inauguration was an artificial barrier, and that his administration was happy with the progress they had made. However, the 100 days mark has been the standard since Franklin Delano Roosevelt. It is seen as a fairly consistent way to determine if the new Commander in Chief has a good working relationship with Congress, and if the public is responding well to his message. Additionally, the first few months in office are generally seen as when the President has the greatest ability to drive public policy through force of will.
Trump’s Scorecard Shows Mixed Results
Before suffering a defeat on the repeal of Obamacare and a fight in the Senate over the confirmation of Supreme Court Justice Neil Gorsuch, Trump set out a plan in a document called a “Contract with the American Voter in which he laid out 28 goals he hoped to accomplish by the end of April. Although he has suffered a number of setbacks, Trump achieved most of his promises when it came to overturning executive orders created under his predecessor, President Obama. He also repealed many of the environmental restrictions which hindered development of America’s energy reserves.
Trump Reverses His Stand on Russia
Most of the big changes in the opening days of the Trump Presidency have been in the realm of foreign policy. At the beginning of his administration, most pundits expected President Trump and Russian President Vladimir Putin to embrace one another, given their publicly stated positions on several global issues such as trade and Islamic State were closer than the views of President Obama and Putin. But under pressure from the CIA and FBI, which were both investigating the connections between members of his inner circle and Russian diplomats, Trump distanced himself from Putin.
Trump Dumps Putin over Syrian Dispute
The final blow to the relationship appears to have come following a chemical attack by Syrian president Bashar al-Assad on his own citizens, in which Russian diplomats protected their ally from censure at the United Nations. The nature of the attack helped move Trump from his previous position against interfering with internal politics of foreign governments, and led to a counterstrike by U.S. armed forces on the Syrian airfield from which the missile attack was conducted. Currently, the relationship between Russia and the United States is believed to be at its lowest point since the end of the cold war.
Is China’s President Trump’s New Best Friend?
There have been additional instances of Trump changing his opinion on foreign policy. In a surprising turn of events, Trump’s first three months in office saw a new potential ally, China. Prior to his election Trump denounced China as a currency manipulator, and threatening tariffs on Chinese imports if President Xi Jinping did not establish an open market. Then Trump and Xi met for their first official talks, and apparently agreed to cooperate on several issues, including working towards reducing the threat posed by North Korean leader Kim Jong Un, who has begun testing rockets capable of carrying nuclear weapons in an attempt to threaten the United States, South Korea, and Japan.
How Have Trump’s First 100 Days Affected Trading?
Trump has exceeded expectations, and the global economy has stabilized since initial days in office. The DOW and S & P 500 have both seen historic increases, and this growth is expected to continue, thanks to Trump’s pro-business outlook and the executive orders issued cutting out regulations. Gold has suffered a setback as Trump has shown himself to be less volatile that analysts had projected based on his campaign demeanor. The dollar should also hold its own against other major currencies, including the euro and pound, as Europe awaits the final outcomes on Brexit and regional elections.