Since his inauguration barely a month ago, Donald Trump has continued to provoke fear and amazement around the world with his aggressive diplomacy and trade policy. The trade war against China, Mexico and Canada has well and truly begun, and Europe is set to follow. The US President tried to impose tariffs of at least 25% on his neighbours and his rival China, which would have a considerable impact not only on the global economy but also on the purchasing power of Americans. Mexico and Canada finally managed to reach an agreement to suspend these taxes for a month, by offering guarantees to Donald Trump (notably regarding fentanyl trafficking).
The US President also froze US foreign aid for 90 days, with the exception of Egypt and Israel. Elon Musk even announced the closure of the United States Agency for International Development (USAID), whose employees have since gone on strike. This sudden closure of the American tap comes as a shock to NGOs, developing countries and the United Nations, and could have disastrous consequences. Donald Trump’s approach to the global economy is like his real estate business: purely transactional, using bluff and intimidation. Which makes us fear the worst for the next four years.
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