With his return to the White House, Donald Trump has reactivated his most aggressive vision of global trade. It is something that has been sensed for weeks, but such a sharp action was not expected with consequences that seem irreversible. The new war of tariffs that He has unleashed he has shaken the financial marketsand has already redefined the role of the United States on the international economic board.
Trump has resumed power with a strong economy, with a growth ofL 2.8 %, an unemployment rate of 4.1 % and inflation under control. However, far from conforming, Trump’s new mandate starts with a risky bet: imposing a 10 % general tariff on almost all countries, with higher rates for specific markets from next week.
That there may be after such a risky decision
Why now? Why risk stability and international relations? Because Trump believes, with ideological conviction, that tariffs can return their ancient industrial glory to the United States. A political fantasy for some, a master plan for others.
From within the Republican party, alarm voices are already heard. Some of his own legislators accuse him of taking the country to an avoidable recession, warning that the effects of this “shock treatment” will not be seen, if perhaps, until 2028. Even so, Trump seems willing to sacrifice political support and even the mid -mandate elections.
The President of the Federal ReserveJerome Powell, He has warned that this policy will decelerate growth and trigger inflation. Trump, faithful to his combative style, has already made him his new target. He presses it publicly, even rudely, to cut interest rates, as if it were its own employee.
The climb has not been waiting. China announced reprisals with 34 % tariffs on US products. Trump responded in his social Truth network with his usual challenging tone: “To the many investors who arrive in the US and invest massive amounts of money, my policies will never change. It is a great time to get rich.”
Even so, a few hours later he hinted at a possible change of course after a “productive call” with To Lam, general secretary of the Communist Party of Vietnam, who would have offered to reduce his tariffs to zero in case of reaching a bilateral agreement.
Global falls
But markets do not understand nuances. The S&P 500 fell 4.4 % In a new day of losses, accumulating a 14 % drop from its maximum. The banking sector collapsed almost 6 %, oil fell 8 %, and fears of a recession intensify.
Meanwhile, the International Monetary Fund launches its own warning: Trump’s tariff war is a direct threat to an already fragile world economy. “It represents a significant risk in a moment of slow growth,” said its general director, Kristalina Georgieva.
Trump not only returns to power with an agenda, but with a mission. In his second term, There is no back. All or nothing.
