Another crucial presidential task is maintaining America’s role as a world leader. A president sets the tone for the nation’s relationships with other governments. His goals and actions—including meeting with foreign leaders, often in tough negotiations—make up his foreign policy. For Donald Trump (2017-2021), a key foreign policy aim was to force China to change what he said were unfair trading practices with the U.S. Presidents also appoint ambassadors who represent the U.S. to foreign nations. What’s more, the president has the power to negotiate treaties—formal agreements with other countries. Treaties serve important functions, such as ending wars or promoting trade. Such agreements need Senate approval, however.
The President acts as the guardian of Past Reserves. This includes the reserves of key statutory boards and government companies (SBGC) listed under the Fifth Schedules to the Constitution. SBGCs include GIC Pte Ltd, Temasek Holdings Pte Ltd, the Housing and Development Board (HDB), Monetary Authority of Singapore (MAS), Central Provident Fund Board (CPFB) and Jurong Town Corporation (JTC). The President may veto any budget or specific transaction (e.g. giving of guarantees or raising of loans) if it is likely to lead to a draw on Past Reserves.
