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Showing posts with the label Economic Nationalism

Trump Relaunches the Tariff War

Internationalism No. 73, March 2025 Page 9 In January 2017, as soon as he took office in the White House, Donald Trump signalled the new trade policy of the United States with two immediate moves: the exit from the TransPacific Partnership (TPP) and the project for a wall on the border with Mexico. These were accompanied by the threat to abandon the North American Free Trade Agreement (NAFTA). That thunderous debut now seems almost moderate, compared to the flurry of arrogant announcements and orders with which his second presidency has begun. Multiple fronts In just a few weeks, Trump has deployed an impressive and omni-directional arsenal of tariffs, making no distinction between allies and adversaries. The first targets were imports from Canada and Mexico, the US’s biggest trading partners. These 25% tariffs were immediately put on hold for a month, in exchange for symbolic concessions from the two neighbouring governments, aimed at countering the suppos...

Asia and Europe Weigh the Unintended Consequences of American Decline

Internationalism No. 73, March 2025 Page 4 “By punishing his longtime allies with tariffs, Donald Trump is encouraging other nations to form trading blocs and networks that exclude the United States”. Whilst the New York Times treats the issue polemically, it constitutes an important strand of reflection in European and Asian assessments. The duties are a “declaration of economic war”, according to Le Monde. A rapid, temporary negotiating truce followed, with tariffs suspended in exchange for tactical concessions from Canada and Mexico. Whilst the “bluff” may have yielded some transitory results, a “permanent instability” is settling at the heart of American affairs. Unpredictability as a weapon is the strategy with which the new presidency intends to tackle, and perhaps even temporarily reverse, American decline. This, though, comes at the cost of compromising the United States” credibility as the guarantor of the old order and the network of alliances which...