|2016.08.05||Trump names 13 Wall Street and Real Estate Titans as Economic Advisers. npr.org (See also 2016 Campaign, Trade)|
Fails to name any actual economists.
|2016.12.07||Trump chooses World Wrestling Entertainment co-founder Linda McMahon to head Small Business Administration reuters.com (See also Linda McMahon)|
|2017.01.19||Reports show U.S. economy gaining strength on the eve of the Trump presidency. reuters.com|
|2017.01.26||Trump proposes a 20% tax on Mexican Imports to pay for a border wall, and supports imposing a 20% tax on all imports. nytimes.com (See also Mexico, Mexico Wall)|
|2017.02.03||Expressing concern that his friends have trouble borrowing money, Trump issues a memorandum to cut back Dodd-Frank banking regulations. theatlantic.com (See also First 100 Days)|
|2017.02.10||Financial regulation leader Daniel K. Tarullo resigns from Federal Reserve's Board of Governors before his term expires, leaving three seats for Trump to fill. nytimes.com|
|2017.02.19||Statisticians worry that Trump will doctor the economic data coming from the administration itself. bloomberg.com (See also Assaults on Facts, First 100 Days)|
|2017.03.06||Trump plagiarizes from Exxon press release to claim credit for 2013 jobs investment. politicususa.com (See also Plagiarism, Assaults on Facts, First 100 Days)|
|2017.09.27||Despite what Donald Trump says publicly, the tax plan that his administration outlined is a potentially huge windfall for the wealthiest Americans - including Trump and his cabinet - would not directly benefit the bottom third of the population, and provide mixed to modest results for the middle class. nytimes.com (See also False Statements, Trump Taxes, Trump Cabinet)|
|2017.10.26||Despite claiming over and over again that his tax proposal is the biggest ever, Donald Trump is wrong. politifact.com (See also Trump Taxes, False Statements)|
|2017.11.06||Nearly half of all middle-class families would pay more in taxes in 2026 than they would under current rules if the proposed House tax bill became law, and about 33% would pay more in 2018, a striking finding for a bill promoted by Donald Trump and congressional Republicans as a middle-class tax cut. nytimes.com (See also False Statements, Department of the Treasury, Steven Mnuchin)|
Millions of middle-class families — particularly those with children — would see an immediate tax increase, averaging about $2,000.
|2017.11.15||An awkward — but extremely telling — moment arose at a Wall Street Journal “CEO Council” event that featured the Trump administration’s top economic policy hand, Gary Cohn, as a key speaker, as few in the audience seemed enthusiastic about the Republican tax reform bill. vox.com (See also Department of the Treasury)|
|2017.12.20||Republicans are on the verge of passing the most significant overhaul of the tax code since 1986, after the Senate passed the GOP plan, cutting the corporate tax rate dramatically providing new breaks for businesses, lowering income tax bills in 2018 for the vast majority of households, though the wealthy would see far more relief than the middle class and working poor. washingtonpost.com (See also Unprecedented Actions, Trump Taxes, Affordable Care Act)|
|2017.12.20||The Republican tax bill doesn't actually simplify the tax code, as most of the loopholes of the current system are still in place. fivethirtyeight.com (See also False Statements)|
|2017.12.21||Donald Trump insisted for months that he wouldn't benefit from the tax bill, but now that it has been signed into law, his press secretary has finally admitted he will. msnbc.com (See also False Statements, Reversals, Conflicts of Interest, Corruption)|
|2017.12.22||Donald Trump would save about $11 million on his taxes, if the new Republican tax overhaul were applied to his 2005 tax return, roughly a 30 percent cut, while also saving another $4.4 million on his eventual estate tax bill. nytimes.com (See also Corruption, Conflicts of Interest)|
|2017.12.22||Donald Trump’s plan to abolish a tax break for hedge-fund managers was kept out of the final tax overhaul legislation -- an act of defiance by congressional leaders who exploited a split among Trump’s advisers. bloomberg.com (See also Steven Mnuchin, False Statements, Hypocrisy, Reversals)|
|2018.01.09||The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates, one of which is Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined for its role in a Russian money laundering scheme. ibtimes.com (See also Conflicts of Interest, Assaults on Government, Corruption, Russia)|
|2018.01.31||The Congressional Budget Office said on Wednesday that the United States is expected to bump up against its borrowing limit a month earlier than previously expected, a function of last year’s $1.5 trillion tax cut, which is resulting in less revenue for the Treasury Department. nytimes.com (See also Department of the Treasury, Steven Mnuchin)|
|2018.02.11||Donald Trump will offer a budget plan that falls far short of eliminating the government’s deficit over 10 years, conceding that huge tax cuts and new spending increases make this goal unattainable, despite the fact that eliminating the budget deficit over 10 years has been a North Star for the Republican Party for several decades, and GOP lawmakers took the government to the brink of default in 2011 when they demanded a vote on a amendment to the Constitution that would prohibit the federal government from spending more than it takes in. washingtonpost.com (See also Hypocrisy)|
|2018.03.02||Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports. thinkprogress.org (See also Corruption, Conflicts of Interest)|
|2018.03.02||Donald Trump dug into his protectionist trade position, arguing that trade wars are good and vowing to slap reciprocal tariffs on any goods even as his actions rattle markets and anger US allies, despite warnings from his own cabinet and Republicans in Congress. cnn.com (See also Unpresidential Behavior)|
|2018.03.06||Gary D. Cohn, President Trump’s top economic adviser, said on Tuesday that he would resign, becoming the latest in a series of high-profile departures from the Trump administration. nytimes.com (See also Resignations and Dismissals, Anti-Semitism, Nationalism)|
|2018.03.08||A trade pact originally conceived by the United States to counter China’s growing economic might in Asia now has a new target: Donald Trump’s embrace of protectionism, as a group of 11 nations — including allies like Japan, Canada and Australia — signed a broad trade deal that challenges Mr. Trump’s view of trade as a zero-sum game filled with winners and losers. nytimes.com (See also Foreign Policy, Trans-Pacific Partnership)|
|2018.03.08||Donald Trump imposed tariffs on imported steel and aluminum but offered relief to some U.S. allies, and opened the door for other countries to "negotiate" for exemptions. washingtonpost.com (See also Trade, NAFTA, Foreign Policy)|
|2018.04.01||China is moving forward with its plan to counter Donald Trump's new tariffs on steel and aluminum, levying duties on more than $3 billion in US exports - imposing a 15% tariff increase on goods including American fruit and nuts and add a 25% tariff on pork, recycled aluminum and other goods, totaling 128 products. politico.com (See also China, Foreign Policy)|
|2018.04.04||After Donald Trump moved to impose tariffs on exports to China, he reversed course once China retaliated, saying that it was only a threat, with the White House saying that the tariffs might never happen. nytimes.com (See also China, Reversals)|
|2018.04.12||A regretful Donald Trump wants to roll back spending in a massive omnibus bill he signed into law, but Republicans who helped craft the legislation are in open revolt. politico.com (See also Reversals, Mick Mulvaney)|
|2018.05.07||Donald Trump is sending a plan to Congress that calls for stripping more than $15 billion in previously approved spending, almost half of which would come from two accounts within the Children’s Health Insurance Program (CHIP) that White House officials said expired last year or are not expected to be drawn upon. washingtonpost.com (See also Reversals, Health Care, Affordable Care Act)|
An additional $800 million in cuts would come from money created by the Affordable Care Act in 2010 to test innovative payment and service delivery models.
|2018.05.20||The Trump administration has suspended its plan to impose sweeping tariffs on China as it presses forward with trade talks, a gesture that will temporarily ease tensions between the two nations but rapidly increase pressure on Donald Trump to secure the type of tough deal that he has long said is necessary to protect American workers. nytimes.com (See also China, Trade, Steven Mnuchin, Department of the Treasury)|
|2018.05.25||The Department of Homeland Security has officially proposed cancelling the International Entrepreneur Rule, which allows foreign entrepreneurs to legally stay in the U.S. to build their companies, provided they meet a host of business requirements. axios.com (See also Department of Homeland Security, Jobs)|
|2018.05.29||Donald Trump is moving ahead with steps to punish China with broad investment restrictions, litigation at the World Trade Organization and hefty tariffs on $50 billion worth of Chinese goods. politico.com (See also Wilbur Ross, China, Steven Mnuchin, Foreign Policy)|
The move, which the White House announced Tuesday morning, comes just over a week after Treasury Secretary Steven Mnuchin said the trade war between the two countries was “on hold.”
|2018.05.31||Donald Trump will level steel and aluminum tariffs on three of the US’s closest trading partners at midnight Thursday, overruling his own party and stoking fears of a trade war. buzzfeed.com (See also Trade, Mexico, NAFTA)|
American consumers will almost certainly be hit with higher prices due to the tariffs, and a slew of major industries are warning of tens of thousands of job losses in the US due to increased costs and retaliation from trading partners.
|2018.06.01||Donald Trump hyped up the monthly jobs report on Twitter an hour before it was released, potentially enabling stock market manipulation. nymag.com (See also Jobs, Corruption, Legal Issues)|
|2018.06.01||The European Union is pressing ahead with countermeasures in response to what it said was Donald Trump’s “pure protectionist” and “illegal” decision to impose trade tariffs on steel and aluminium. theguardian.com (See also Foreign Policy, Trade)|
|2018.06.06||Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs. reuters.com (See also Jobs, Trade)|
|2018.06.07||A White House economic analysis of Donald Trump’s trade agenda has concluded that Mr. Trump’s tariffs will hurt economic growth in the United States. nytimes.com (See also Trade)|
|2018.06.26||Thanks in part to deficit spending during Donald Trump’s first term, Congress’ nonpartisan budget budget estimates that within 16 years, the federal deficit is expected to be the largest in history, outpacing even the fiscal shortfalls that followed World War II. politico.com (See also Health Care)|
|2018.07.19||Donald Trump criticized the Federal Reserve on Thursday for raising interest rates, a rare rebuke by a sitting president that upends longstanding White House protocol to avoid commenting on monetary policy. nytimes.com (See also Unprecedented Actions)|
|2018.07.25||The amount of corporate taxes collected by the federal government has plunged to historically low levels in the first six months of the year, pushing up the federal budget deficit much faster than economists had predicted. nytimes.com (See also Department of the Treasury)|
The reason is Donald Trump’s tax cuts, which introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and allowed companies to immediately deduct many new investments, so as companies operate with lower taxes and a greater ability to reduce what they owe, the federal government is receiving far less than it would have before the overhaul.
|2018.07.30||The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a legally tenuous maneuver that would cut capital gains taxation and fulfill a long-held ambition of many investors and conservatives. nytimes.com (See also Steven Mnuchin, Department of the Treasury)|
|2018.08.05||Two of America’s biggest steel manufacturers — both with deep ties to administration officials — have successfully objected to hundreds of requests by American companies that buy foreign steel to exempt themselves from Donald Trump’s stiff metal tariffs, arguing that that the imported products are readily available from American steel manufacturers. nytimes.com (See also Corruption)|
|2018.09.11||The U.S. deficit grew by $222 billion from this time last year — reaching a total of $895 billion, according to the nonpartisan Congressional Budget Office, and it will approach $1 trillion by the end of FY19. axios.com (See also Hypocrisy)|
|2018.09.17||Donald Trump escalated his trade war with Beijing saying the United States would impose tariffs on $200 billion worth of goods and was prepared to tax all imports. nytimes.com (See also Trade, China)|
The president said the tariffs, which will hit everyday consumer products, will go into effect on Sept. 24.
|2018.09.17||The amount of cash that has flowed back to the U.S. after Donald Trump’s massive tax law overhaul is just 3.5 percent of what he predicted. thedailybeast.com |
The revamp ended the practice of taxing U.S. companies when they brought home foreign profits, from which Trump claimed trillions of dollars would flow back into the country.
|2018.09.25||The federal government could soon pay more in interest on its debt than it spends on the military, Medicaid or children’s programs, as the run-up in borrowing costs is a one-two punch brought on by the need to finance a fast-growing budget deficit, worsened by tax cuts and steadily rising interest rates that will make the debt more expensive. nytimes.com (See also Department of Defense)|
Within a decade, more than $900 billion in interest payments will be due annually, easily outpacing spending on myriad other programs.
|2018.09.26||Steel and aluminum tariffs imposed by the Trump administration have cost Ford Motor Co about $1 billion in profits, its chief executive officer said, while Honda Motor Co. said higher steel prices have brought “hundreds of millions of dollars” in new costs. reuters.com (See also China, Trade)|
|2018.10.11||Donald Trump responded to falling stock prices by continuing to throw rocks at the Federal Reserve, which he has described as “crazy,” “loco,” “going wild” and “out of control” for slowly raising interest rates against the backdrop of a booming economy. nytimes.com (See also Unpresidential Behavior)|
|2018.12.05||Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt, but sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable. thedailybeast.com (See also Unpresidential Behavior)|
"Yeah, but I won't be here," the president bluntly said.
|2018.12.23||Treasury Secretary Steven Mnuchin startled financial analysts, bankers and economists by issuing an unusual statement declaring that the nation’s six largest banks had ample credit to extend to American businesses and households. washingtonpost.com (See also Steven Mnuchin, Department of the Treasury)|