Donald Trump’s stunning victory in the 2024 US presidential election marks the beginning of what many are calling MAGA 2.0. This new incarnation of the \"Make America Great Again\" agenda promises to reshape the global landscape with a more aggressive approach to trade, manufacturing, and energy policies.
Trump’s economic and trade strategy focuses on three main pillars:
1. Counter-Globalization: Trump aims to bring manufacturing and supply chains back to the United States, with a strong emphasis on reviving the American automotive industry. Utilizing the executive powers of the presidency, he plans to implement orders like \"Buy American, Hire Americans,\" which would prevent companies that outsource their business from securing federal contracts. The ultimate ambition is to position America as a \"manufacturing superpower.\"
2. Counter-Multilateralism: Embracing extreme protectionism and unilateralism, Trump seeks to protect American workers and farmers by addressing what he calls a $1 trillion trade deficit. His administration plans to impose tariffs ranging from 10% to 20% on all imports globally and revoke the Chinese mainland's permanent normal trade relations (PNTR) status. This move is expected to significantly increase tariffs on imports from China, aiming to rebalance trade in America’s favor.
3. Counter-World Green Transition: Trump is set to reverse the global shift towards green energy by prioritizing oil and gas. He intends to withdraw the United States from the Paris Accord once again and lift restrictions on domestic oil and gas production, positioning America as the world's leading producer of these resources. Additionally, he plans to discontinue policies supporting electric vehicles and halt the import of Chinese automobiles.
These policies collectively represent a departure from the current globalist framework, signaling a shift towards a more isolationist and protectionist America. While supporters argue that these measures will strengthen the American economy and secure jobs, critics warn of potential backlash from international partners and the long-term implications for global trade and environmental efforts.
Reference(s):
cgtn.com
