So, we have a president who won on a Republican ticket, a party that favors business. The goal of a republican ticket is usually to make it easier for businesses to make money. One way to do that is to deregulate business. But some regulation is critical to the well-being of the people of the nation. We want government to prevent fake drugs, adulterated food, horrid working conditions, child labor, and citizens with no access to even basic health care.
Pure capitalism puts all money, land, and labor into markets. In such a system, no one benefits from free anything—capital, land, or labor. The government takes a hands-off approach, trusting the "free market" to make the economy work. Adam Smith said that pure self-interest would run such an economy successfully Though the words sound OK, at least plausible, such an economy has never existed. People have always seen that it is not in their interest to allow market capitalism to run its course and have demanded that some regulation take place.
Some of the followers of the current president would support pure market capitalism, and his policies do lean in the direction of support for business, but the president's motivation is much more complicated than that. He is also driven by revenge, as we can see by his pardons of those who stormed Congress on January 6, 2020. He is driven by racism, as we can see by his attempting to end diversity programs. He is driven by sexism too, killing any spending that studies improving the status of women, though he likes to keep very pretty young women around in prominent positions, to show he cares about women. And he is driven by hostility to efforts to confront and mediate the climate crisis, as evidenced by his jokes about low-flow toilets and wind farms and by his "drill, baby, drill" motto. But he is driven most strongly by a desire to have power and personal wealth. So, he will say whatever he thinks will win an election, get him the biggest donations, and will support policies that will allow him to amass the greatest personal and family wealth.
People will be harmed by his economic policies—both abroad and within the nation. People will die with such an abrupt end to US foreign aid. Within our nation, many people cannot avail themselves of a market economy because they are too ill to work, and those people will suffer. Children will suffer. People discriminated against will suffer. People will suffer and die if Medicaid is cut in order to keep a tax cut for billionaires.
Hopefully, the culture of America has already passed the point that his racist anti-diversity opinions and his denial of a climate crisis can halt progress on diversity and on fighting climate change. I see the ads on TV that normalize being black and having white neighbors, even white spouses, a decent job and income,etc. This means that the large corporations that pay for these ads think that ending racism is in their interest. I think even some large corporations are investing in climate solutions, because they are seeing income in them—the public wants to buy such solutions. Not to say that much harm can't be done by a government that opposes progress in these areas. It certainly can, and people will suffer the results, but some progress will continue in these areas despite government policies.