... political issue that required the introduction of a state of emergency. The use of tariffs as a tool of coercion was introduced by Donald Trump. Previously, US presidents often used other measures that are considered to be sanctions tools—blocking financial ... ... commitment to socialism based on a strong civilisational foundation and national interests) and increasingly tough competition in the economy and finance (China is pursuing industry, technology and finance in its own way). Such problems in relations between Brazil ...
... China compared to their spending dynamics in the U.S.
To address the situation and curb the widening trade deficit, President Donald Trump signed an executive
order
on April 2, 2025, introducing reciprocal differential tariff rates on imports from most ... ... excess money supply to prevent consumer price inflation, which gave rise to a parallel financial system, detached from the real economy. Higher returns in finance disincentivized investment in manufacturing. Global trade imbalances have driven the over-financialization ...
... with sanctions measures. However, conflating tariffs with sanctions would be premature; unlike trade policy tools, sanctions remain primarily instruments of foreign policy.
Andrey Kortunov:
Can U.S. New Tariffs Trigger Structural Changes in Global Economy?
One of the most consequential moves at the start of Donald Trump’s second term was the sweeping increase in US import tariffs. The new policy targeted nearly all trading partners, with additional duties imposed on over seventy countries. This aggressive escalation– dubbed a “trade war against the ...
... thanks to the personal position of the 47th President of the United States. The changes remain fragile and reversible
At this moment, the main driver of the emerging positive dynamics of the Russian-American dialogue is the personal desire of President Donald Trump to become the main peacemaker in resolving the conflict between Moscow and Kiev. Everything else, including the movement towards normalization of bilateral diplomatic ties, the surprising solidarity vote in the UN General Assembly, signals ...
... to dialogue. Scholz said that “unilateral steps taken by the United States undermine trust and pose a threat to the global economy.” Macron called for “an immediate discussion in the G7 format,” while Italian Prime Minister Giorgia Meloni noted,... ... especially amid growing pressure from the U.S. and China.
The United States: The Return of a Protectionist National Doctrine
With Donald Trump’s accession to power in January 2025, the economic policy of the United States finally took shape as a rigidly ...
... memory of human beings. This change was famously observed by Chinese President Xi Jinping when he
said
, “Our world is undergoing profound changes unseen in a century.”
Andrey Kortunov:
Can U.S. New Tariffs Trigger Structural Changes in Global Economy?
On April 2, 2025, U.S. President Donald Trump
unveiled
an early 20
th
-century type of economic policy, increasing tariffs on countries unseen since the
Great Depression of 1929
. From a
baseline
of 10 percent to a maximum of 46 percent, tariffs are now imposed on state allies and ...
... Available at:
https://www.cbo.gov/publication/60843/html
16
. Bales S. (2025).
Zinsen, US-Staatsverschuldung und die Politik von Donald Trump: ein Balanceakt
. KfW Research. Available at:
https://www.kfw.de/%C3%9Cber-die-KfW/Newsroom/Aktuelles/News-Details_843776.... ... Defends Role as Global Currency. Statista. Available at:
https://www.statista.com/chart/30838/share-us-us-dollar-in-global-economy-global-financial-transactions/
21
. Kraemer M. (2025). Mar-a-Lago Accord. LBBW. URL:
https://www.lbbw.de/artikel/klartext/mar-a-lago-accord_ajth4e1ggc_d....
... concerned about more remote implications of the recent U.S. tariff decisions. The precise impact of these decisions on the global economy is still hard to predict; but in the worst-case scenario, we could record a rise of global inflation, a significant slowdown ... ... linked to numerous disruptions within the global economic system. On top of that, one should not forget that U.S. President Donald Trump continuously threatens to impose further restrictive economic measures, such as new tariffs on Russian oil consumers,...
... and military capabilities. Sooner or later, such growth was bound to become a problem for the United States. The presidency of Donald Trump in 2016-2020 was a period when a visible shift occurred in American policy towards China.
Certain difficulties arose ... ... such as the Belt and Road project, are a means of economic expansion for the Celestial Empire that must be contained. China's economy itself is unfair because it ignores market values and develops at the expense of others, including the United States. ...
... this was a pre-election, and even victory speech, delivered in the context of the Senate vote, the positive outcome of which Donald Trump did not doubt, even a minute. This was the speech of a triumphant winner. The main goal was to create the impression ... ... presidency has been a continuous succession of victories, an era of prosperity and an endless triumph of America in all areas – the economy, domestic politics, and foreign and defence politics, in light of which the Democrats’ attempts to remove him from power ...
