||The presidency of Donald Trump began at noon EST (17:00 UTC) on January 20, 2017, when Donald Trump was inaugurated as the 45th president of the United States, succeeding Barack Obama. A Republican, Trump was a businessman and reality television personality from New York City at the time of his 2016 presidential election victory over Democratic nominee Hillary Clinton. While Trump lost the popular vote by nearly three million votes, he won the Electoral College vote, 304 to 227, in a presidential contest that American intelligence agencies concluded was targeted by a Russian interference campaign. Trump has made many false or misleading statements during his campaign and presidency. The statements have been documented by fact-checkers, with political scientists and historians widely describing the phenomenon as unprecedented in modern American politics. Trump's approval rating has been stable, hovering at high-30 to mid-40 percent throughout his presidency.
Trump rolled back numerous environmental protections, as well as reduced enforcement of existing regulations. He ended the Clean Power Plan, withdrew from the Paris Agreement on climate change mitigation, and urged for subsidies to increase fossil fuel production, calling man-made climate change a hoax. Trump failed in his efforts to repeal the Affordable Care Act (ACA), but took numerous actions that hindered the functioning of the ACA, as well as sought to have the courts rule the entirety of the ACA unconstitutional. Despite pledges made as a candidate, President Trump sought substantial spending cuts to Medicare, Medicaid and Social Security Disability Insurance. He enacted a partial repeal of the Dodd-Frank Act that had previously imposed stricter constraints on banks in the aftermath of the 2008 financial crisis and withdrew from the Trans-Pacific Partnership. Trump signed the Tax Cuts and Jobs Act of 2017, which lowered corporate and estate taxes permanently, and lowered most individual income tax rates temporarily while increasing them for some. He enacted tariffs on steel and aluminum imports and other goods, triggering retaliatory tariffs from Canada, Mexico and the European Union, and a trade war with China. These tariffs adversely affected the U.S. economy. For most of Trump's term until 2020, the economy kept improving, following trends from the Obama presidency. However, the federal deficit soared under Trump due to spending increases and tax cuts.