An economic renaissance is unlikely, not least because the US economy is very far from the disaster he proclaims it to be
President Donald Trump gestures as he boards Air Force One. What impact will Donald Trump’s second coming have upon the world? Photograph: AP/Mark Schiefelbein’s second coming have upon the world? The world is unpredictable. Trump is also unpredictable. His first presidency transformed the United States and the world. His second is likely to have a deeper impact.
Trade has collapsed before. Will it do so again? Trump has the idea that foreigners will pay his tariffs. In fact, Americans will: he is not just a bully, but a stupid one Trade has collapsed before. Will it do so again? Trump has the idea that foreigners will pay his tariffs. In fact, Americans will: he is not just a bully, but a stupid one.
In 2024, according to Nasa, global temperatures were 1.28C above its 1951-1980 baseline, the highest ever recorded. Atmospheric concentrations of CO₂ continue to rise. So, it is to be “burn, baby, burn”. This indifference to the fate of the planet could prove devastating. That, too, creates huge concerns for the rest of the world.
On the contrary, the US economy has far outperformed its peers since the pandemic. In its January World Economic Outlook Update, thestates that “growth is projected to be at 2.7 per cent in 2025″. This is 0.5 percentage points higher than in its October forecast and a rate other high-income economies can only dream of. Trump should thank
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