In case there was any doubt that things are not going as Trump had planned, whatever planning means for someone so impulsive, the United States is considering lifting sanctions on millions of barrels of Iranian oil. Still, the markets went down yesterday, after much ups and downs.
How are they not going to go down? The message that Trump sends to the market by lifting sanctions on Iranian oil, rather than reassuring the markets by the release of barrels, is disturbing because of how desperate it is. So desperate that he is willing to enrich the enemy he is trying to drown in order to continue attacking him.
He is willing to enrich the enemy he is trying to drown in order to continue attacking him.
But Trump insists that this war is almost won. What am I saying almost? Already won. That won’t last long. Or yes. And ask for support from allies. Well no, now he says not anymore.
Before, a word from Trump calmed the markets. Saying that the war was over, whether it was tariff, energy or military, was enough to calm the stock markets. Investors attributed the president to the pragmatism of a businessman. Not anymore. Trump insists that the war will be short-lived, but the markets are not confident.
Anne Applebaum says that it has taken the world many months to accept that we have a US president who does not think strategically. Neither historically, geographically nor even rationally. He does not relate his actions one day to their consequences weeks later. He did not even foresee that attacking the Gulf could cause the price of energy to go out of control. Not even that.
We try to make sense of their actions with thoughtful analyzes of isolationism and imperialism. What if the Monroe Doctrine, what if neopopulism. And he has no strategy other than his impulses. Let’s see, he is the president who increased tariffs on Switzerland because he didn’t like his president, but reduced them after some Swiss businessmen gave him a Rolex.
Sucking up to him made more sense when his actions seemed to follow logic. But its behavior has become so arbitrary that allies, and markets, are beginning to doubt that it is of any use. Why, if in weeks, or in hours, you will change your mind without thinking about the consequences.
Moral?
Fear of energy crisis grows
Removing sanctions from Iran is a pathetic measure
