President Trump has, over the past two years, used his business tactics in other ways beyond budgets and saving money. Below are three ways the president has translated his business knowledge into his work in the Oval Office.
President Trump echoed a key phrase of his business prowess by repeating that government projects would come in “under budget and ahead of schedule.”
Trump negotiated a $3.9 billion deal with Boeing for two presidential airplanes after first threatening to cancel the program. The original deal was $5 billion, so Trump created a savings of $1.4 billion.
He also called for an audit of time and money in every federal agency and department. The audit revealed the Department of Defense wasted millions of dollars.
The president's promise to complete projects on time and under budget was fulfilled when the U.S. Embassy was moved from Tel Aviv to Jeruselum. State Department officials estimated it would take seven years and $500 million to make the move. The new embassy was opened in May 2018 with a cost of $21.2 million.
Using Stick and Carrot
Many were worried when Trump started tweeting to North Korean President Kim Jong-un, sometimes calling him derogatory names like “Little Rocket Man.”
The surprise came when the White House announced that Trump would be holding a summit with Kim. The two leaders announced a deal at the end of the summit that could potentially lead to the de-nuclearization of the region.
The stick was taking on Kim personally. Trump's tone changed to a softer approach when the president started communicating with Kim and during the meeting. The carrot Trump used to entice Kim into a deal was a video that included all the things Kim likes and sold the idea that all was possible for North Korea with a peace deal negotiated by the United States.
Negotiations continue with an emphasis on verifying North Korea's actions of getting rid of its nuclear weapons program. This is where security measures like Intrusion Detection Systems (IDS) and Intrusion Prevention Systems (IPS) come into play. Since both can be used in a demilitarized zone, there isn't necessarily a competition of ids vs ips in selection.
Taking a Risk
Every business person knows about risk. They also know that risk is essential in order to achieve big gains. Trump takes big, calculated risks when it comes to dealing with other leaders and that has proven a big win for him.
Trump pulled the United States out of several agreements that were highly controversial, including the North American Free Trade Agreement (NAFTA) with Canada and Mexico. He did this to force the two countries to renegotiate the deal. This posed some immediate problems in dealing with Canadian trade as Prime Minister Justin Trudeau also took a hard stance. Trump held firm and made the deal for the U.S. Mexico Canada Agreement (USMCA).
The other major risk taken by the president was with trade, particularly with China. Trump initiated a tariff trade war that was ill-advised by many economists. The move was heavily criticized overseas and resulted in price increases for some U.S. manufacturers and ultimately consumers of certain Chinese products or products using elements manufactured in China. However, it has resulted in eight trade deals reached and negotiations continuing with China with a March 2 deadline to set a deal.
The Trump presidency has been a completely different style than his predecessors. Many have predicted each of his actions would result in catastrophic failure, but they have resulted in cost savings, trade deals and possibly peace in the Pacific Penisula.