Economic repercussions of Donald Trump's policies to extend well beyond US
Date
11/20/2024 7:05:28 AM
(MENAFN) The economic repercussions of Donald Trump's policies are likely to extend well beyond the United States, particularly if other nations retaliate with their own tariffs. While free trade comes with its own challenges, trade wars are not a viable solution. As finance expert Luigi Zingales cautions, "The neoliberal elite is well aware that we might be heading toward disaster; it's perilous for the most powerful nation to adopt a bullying approach."
Trump's presidential victory defies two widely held beliefs: "Cheaters cannot prosper." These aren't just phrases meant to comfort victims of bullying—they represent core legal principles intended to curb cheating and limit the power of bullies. In the political realm, however, rule-breakers and bullies often rise to the top, as seen with leaders like Vladimir Putin, Narendra Modi, Benjamin Netanyahu, Recep Tayyip Erdogan, and, now, Trump. Despite his history of rule-breaking and aggressive behavior, Trump successfully bullied his way into the White House.
Many American voters either overlooked or even endorsed Trump's behavior, gravitating toward the notion of a strong leader who could exert pressure on Russia and Ukraine or negotiate ceasefires in Gaza and Lebanon. His hardline stance on immigration and his promise to impose tariffs also resonated with his supporters. However, Trump's combative style has also alienated many, highlighting the divisive nature of his leadership.
Trump's approach mirrors that of other authoritarian leaders, seeking to target opponents, suppress dissent, and consolidate power for the long term. Given the U.S.'s global dominance, Trump's bullying tactics will have far-reaching consequences, aiming to assert U.S. economic, geopolitical, and cultural control, expanding the reach of American influence well beyond traditional presidential strategies.
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