Four months later, without the type of significant financial market disruptions that his spring effort caused, the US president is celebrating what he says are a string of successes after announcing a few agreements with trading partners and unilaterally imposing tariffs on others.
Trump is now proposing that the United States will profit from fresh income, revive home industry, and attract hundreds of billions of dollars in foreign investment and purchases after working to reorganize America’s position in the global economy. It is yet highly uncertain if that would be the case and whether these activities will have unfavorable effects.
So far, though, it is evident that a trend that was (gently) shifting in favor of free trade even before Trump’s second term has turned into a global tsunami. Although there is always a lag before the entire impact is seen, it hasn’t left the type of devastation in its path that some may have anticipated, even though it is changing the economic landscape. Furthermore, this has all been a wake-up call for many nations, reminding them that they must continue to pursue new partnerships.
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