How Will President Trump Change Up the Business World?

 

We can’t say anyone was surprised by the government hiring freeze instituted by President Trump on Monday, January 23, 2017. Donald J. Trump is the first U.S. President to go straight from the CEO chair into the Oval Office without having any military or political experience. As our 45th President takes his place as Commander-in-Chief of the United States of America, there are several things for business leaders to keep an eye on, and a few that we want to point out to our blog readers as we all anticipate changes in the coming months.

 

  1. According to The Washington Post, “A hiring freeze was included in the Trump presidential campaign’s “Contract with the American Voter.” It was the second of six measures “to clean up the corruption and special interest collusion in Washington, D.C.” and part of his “100-day action plan to Make America Great Again.”
  2. President Trump has issued an executive order for an “impassable physical barrier” to be built along the U.S. border with Mexico. He also signed an act that will block federal funds from U.S. cities that are recognized as sanctuaries for undocumented immigrants. http://www.bbc.com/news/world-us-canada-38740717
  3. President Trump is also expected to announce immigration restrictions from several African and Middle Eastern countries in the very near future.
  4. NATO (North Atlantic Treaty Organization) could face some changes from the U.S., as President Trump has voiced his opinion of the unfairness of cost-sharing amongst our allies in NATO.
  5. Free trade is something that President Trump may change up quite a bit as well. He’s mentioned several times that NAFTA between the U.S., Canada, and Mexico has cost the U.S. many jobs, and that he wants to change that.
  6. President Obama signed the Iranian nuclear accord into effect, which President Trump disagrees with wholeheartedly. The potential for nuclear weapons in Iran and Asia are at the forefront of President Trump’s policy concerns as well. This is thought to be one of the areas he will focus on in the coming months.
  7. According to BBC online, Trump “has said that he will ‘cancel’ the Paris Climate Agreement within 100 days of taking office and will do everything in his power to reverse climate change regulations introduced by President Obama. President Trump has repeatedly denied the science of human-caused climate change, describing it as ‘fictional’.”
  8. Regulatory reform is something high on the priority list for President Trump, as noted by members of his advisory team during the election. “This is going to be a president who will be the biggest regulatory reformer since Ronald Reagan,” Stephen Moore, one of Mr. Trump’s economic advisers said in an interview on Wednesday. “There are just so many regulations that could be eased.”
  9. Overtime Ruling: While President Trump may prefer to do away with it altogether (a process that could take months, if not years, to become legislation), some lobbyists expect Congress to pass a legislative compromise that would rein in the overtime rule, by phasing it in over a number of years, and by limiting or undoing the automatic upward adjustment in the salary threshold every three years.
  10. Women in the Military: We all know that there has been huge response by women to President Trump’s election. The Women’s March that took place all over the world this past weekend was a huge show of how passionately many women feel about this change in power. It remains to be seen how President Trump’s policies will affect women over the next four years while he is in office. We do know, however, that the Senate recently passed a bill that will require women to sign up for Selective Service. Does this mean President Trump will also view women as equals and sign orders reflecting such a sentiment? Only time will tell! For now, “under the Senate bill passed on Tuesday, women turning 18 on or after Jan. 1, 2018, would be forced to register for Selective Service, as men must do now. Failure to register could result in the loss of various forms of federal aid, including Pell grants, a penalty that men already face. Because the policy would not apply to women who turned 18 before 2018, it would not affect current aid arrangements.”

 

Although not an inclusive list of all the changes we have already seen and are coming down the pike, we will keep an eye on the legislation, executive orders, and Presidential stance on issues affecting our clients, colleagues, and friends in business. As human resources professionals, we aim to provide you with the best information, free from bias (at least as much as is humanly possible with some of the highly provocative topics we’ve touched on in the past and will feature in the future). Of course, that being said, we are a consulting firm that values equality and freedom, while seeking to provide our clients with best practices, helpful tips and hints, industry topics of interest, and guidance when needed. We appreciate all of our blog readers, and hope that your businesses continue to thrive!