Abstract: During his first term as President of the United States(2017-2020),Trump implemented a series of fiscal and tax policies,including signing the Tax Cuts and Jobs Act and launching a “trade war” against China.Although these policies have to some extent promoted economic growth and employment expansion in the United States,their unilateral trade protectionism seriously disrupts the international trade order and brings many uncertainties to global economic recovery and sustainable development.After Trump was successfully elected in the US presidential election in 2024 and took office as the new US president in 2025,he implemented a series of tariff policies that would impact Chinas export and supply chain industries,intensify competition among enterprises,increase the risk of capital outflow,and potentially worsen international trade relations.In response,China can take measures such as increasing research and development support,optimizing industrial structure,and strengthening international exchanges to maintain the core competitiveness of our enterprises.

Key words: Trump, US fiscal and tax policies, tariff