United States: the risk of a “Trump recession”

In the two months of his presidency, Donald Trump’s unpredictable and inconsistent economic decisions have shaken up the global market, but especially the US market. While the tax on steel and aluminium that came into force on Wednesday 12 March seems to have been confirmed, Donald Trump has already backtracked on the 25% tariff on all Canadian and Mexican imports. In a recent speech, the US President remained evasive about the very real risks of inflation and recession associated with his trade wars. Stock markets hate instability, and Monday 10 March was the worst day for the Nasdaq since 2022.

Tech companies in particular fell on the stock market, and it’s hard not to see this as a consequence of the GAFAM bosses’ support for Donald Trump. Tesla, for example, has seen the worst fall, with its value dropping by more than 15% in just a few days. The electric car company is suffering from the disgrace of its boss Elon Musk, his political duet with Donald Trump, his Nazi salute and his slip-ups on X. Donald Trump even organised a Tesla publicity operation in the White House to help his friend, the richest man in the world.

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