Former President Donald Trump’s “America First” policy was designed to prioritize U.S. interests. That was the public message. But if we look closer, it’s clear that these policies often benefited specific power groups — especially large corporations, energy giants, and financial institutions — more than the broader public.
This isn’t unique to Trump. But under his leadership, the connection between policy and profit for certain sectorsbecame especially visible.
Tax Cuts: A Gift to the Top
The 2017 Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21%. This helped large U.S. corporations significantly boost profits. Tech firms, Wall Street banks, and multinational businesses saw massive gains. Stock buybacks surged.
Meanwhile, the average American saw only modest and temporary tax relief. For small businesses, the benefits were limited and often complicated to claim.
Real Beneficiaries:
- Shareholders
- C-suite executives
- Wall Street investors
Deregulation: Freeing the Giants
Trump’s administration rolled back environmental and financial regulations. These moves made it easier for oil & gas companies to expand and for big banks to lend, invest, and take more risks.
Supporters claimed this led to job growth. But much of the actual economic benefit stayed concentrated in industries that already held significant lobbying power and capital.
Real Beneficiaries:
- ExxonMobil, Chevron
- JPMorgan Chase, Goldman Sachs
- Private equity firms
Trade Wars: Collateral Damage to the Middle
Trump’s trade war with China was presented as a move to protect American workers and bring manufacturing back. But it had mixed results.
Some U.S. manufacturers benefited from tariffs. But many American consumers and small businesses paid higher prices on goods. Farmers faced retaliatory tariffs. Global supply chains were disrupted.
Who paid the price:
- Consumers (higher prices)
- Farmers (reduced exports)
- Small import-reliant businesses
Strategic Power: Policy as a Mirror of Influence
Trump’s policies weren’t shaped in a vacuum. Many decisions aligned closely with the interests of industries that supported his campaign or were deeply embedded in Washington’s power networks.
The phrase “America First” was more about “Strategic America First” — where the strategy served select power centers, not necessarily the broader population.
Investment Insight: Follow the Power Flow
Investors who understand this structure can see through political slogans. When a policy is announced, the key question is:
“Which industries or companies stand to gain?”
By tracking where the money and influence concentrate, we gain insight into the likely winners in the stock market.
