Trump dynamites the world economy

Not even the promoters of the anti-American demonstrations of a few years ago could have imagined they would find allies in the United States on their right. And they would believe it even less if they realized that the person behind an operation that seems designed to cause the implosion of the system from within is a president like Donald Trump, promoter of one of the worst forms of anti-politics.

Following its usual behavior, which if not for its global effects would be nothing more than a show with very little grace, the one seen as the leader of the free world has decided to blow up the economic and commercial order with the excuse of enriching the United States. Based on falsehoods and twisting of history, it justifies a universal 10% tariff on all imports, which is added to other percentages depending on whether the country is better or worse, and which rises to 20% in the case of the European Union (EU) and skyrockets to 54% in the case of China. It shamelessly mixes distorted views of history and the regulations to which many products are subject to justify a return to 19th-century protectionism.

The goal is to punish trading partners and others because, according to Trump's philosophy, they sell more than they buy in the US. But, as he recalls The Economist, one of the bibles of liberalism and free trade, these red inks are primarily due to Americans choosing to save less than they invest in their country. And that, moreover, hasn't prevented their economy from so far outperforming that of the rest of the richest G-7 countries. It remains to be seen whether the new strategy will allow them to continue on this path.

Faced with this challenge, the rest of the world should act prudently and with more intelligence than Trump and respond selectively, so that the effects are felt by the citizens of that country. The other option is to strengthen trade with other blogs and countries, although they will hardly be able to supply the volume generated by US demand.

The evils of Trump's policies will spread across the planet, untimely and unnecessarily, given the weight of global supply chains, but they will also be felt by his fellow citizens, many of whom voted for him. No one who isn't a Trump supporter or supporter believes that the tariff penalty will lead to a surge in investment for production in the US with new factories for finished products and their components, which are now sourced from third countries, often at lower costs, and which will be punished by Trump's arbitrary tax.

In addition to seeing reduced options in the US market, as many exporters will stop selling, US consumers will suffer from price increases, one of the problems Trump attributes to his predecessor, Democrat Joe Biden. And inflation and its impact on the shopping basket or when filling up the car is what could make Americans lose patience. It could also cause Trump, who is beginning to flirt with the unconstitutional idea of running for a third term, to make one of his usual about-faces and change his policy.