President Donald Trump has adopted a hands-on approach to managing the U.S. economy, intervening directly in various sectors. He has attempted to lower drug prices, directed tariff policies affecting numerous countries, and pressured the Federal Reserve to adjust interest rates. Trump also takes a personal interest in corporate matters, such as urging Apple CEO Tim Cook to focus investments in the U.S. rather than India. During his recent Middle East trip, Trump promoted the U.S. economy to business leaders, emphasizing his direct involvement.
Critics argue that this approach deviates from traditional Republican economic policies and raises concerns about centralized decision-making. Economists like Douglas Elmendorf suggest that Trump’s actions lack systemic analysis and expert input. Despite this, many Republicans remain supportive of his strategies.
Trump’s executive order to impose ‘most-favored-nation’ pricing on pharmaceuticals exemplifies his interventionist style. While the White House argues this is not price control, industry groups like PhRMA oppose government price setting. This personalized economic management contrasts with previous administrations, which typically relied on broader legislative processes and bipartisan cooperation. — new from The Washington Post