Trump Tides: A Real-Time Chronicle on Tariffs, Budget and More - The New York Times Special

Donald J. Trump's presidential tenure was akin to standing at the precipice or rapid ebbs and flows of the sea. Sometimes it would feel calm and silent; other times, it was tumultuous with towering waves of policy changes, shock decisions, and unexpected directives. This real-time chronicle seeks to briefly summarize the key thematic issues during the Trump administration: tariffs, the federal budget, and more. These significant happenings impacted both the domestic and international landscapes in ways still reverberating today.

Let's take a gallop through the high tide of Trump's tariffs wars. A cornerstone of his economic policy, President Trump utilized tariffs as a tool to protect American industries, particularly steel and aluminum, from a perceived onslaught of foreign competition. He also sought to renegotiate longstanding trade agreements, the most notable being the North American Free Trade Agreement (NAFTA) which was replaced by United States-Mexico-Canada Agreement (USMCA). However, this aggressive stance instigated several trade disputes – most prominently with China, leading to a protracted Trade War that saw both countries imposing retaliatory tariffs on each other, affecting billions of dollars' worth of goods.

Switching tides, let's drift towards Trump's federal budget, a sea of red ink. His administration launched a tax overhaul in 2017 which slashed tax rates for corporations and also provided temporary benefits to most individual taxpayers. This tax cut heralded the largest one-time reduction in the corporate tax rate in U.S. history, dropping from 35% to 21%. However, this tax reform spurred concerns about skyrocketing federal deficit. The Congressional Budget Office (CBO) estimated that the federal deficit had risen to $984 billion, a 26% increase from the previous year.

Under Trump's watch, another controversial tide was the federal budget allocated for immigration-related policies. His hardliner stance on immigration was epitomized in the sought-after funding for the construction of a border wall between the US-Mexico border, one of his hallmark campaign promises. In addition, he overhauled asylum policies and pushed for initiatives like the "Remain in Mexico" policy.

On a broader scale, Trump tides left ripples in international relations and alliances. Particularly, his noticeable disinterest in multilateralism led to the U.S. withdrawing from key international agreements including the Paris Climate Agreement and the Iran Nuclear Deal. His approach to NATO, positioning it as an obsolescent institution unless other member states fulfilled their funding responsibilities, brought about tension between the U.S. and its traditional allies.

This chronicle is by no means exhaustive, but serves as a snapshot into the eventful tides of the Trump administration. From tariffs to the budget, every wave brought about a different challenge and consequence. As with any sea, the tides push and pull, shaping the landscape in new ways. The Trump administration, controversial as it was, has indelibly marked the landscape of American governance.

Sources: 1. https://www.nytimes.com/2020/01/15/business/economy/china-trade-deal.html 2. https://www.nytimes.com/interactive/2019/world/trade-war.html 3. https://www.nytimes.com/2019/08/21/business/economy/deficit-tax-cuts.html 4. https://www.nytimes.com/2019/10/25/us/migrant-children-shelters.html 5. https://www.nytimes.com/2019/08/20/world/nato-trump.html