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Your guide to what Trump’s second term for Washington, business and world means
Sometimes you have to see the overall picture. On July 4, 2026, the United States will celebrate its celebrations 250 years of independence. In the declaration of independence itself, it says: “We take these truths for granted that all people are created equally, that they are equipped by their creator with certain inalienable rights that are among these life, freedom and the pursuit of happiness.” These ideas were implemented imperfectly. A civil war and the civil rights movement still had to come. However, the birth of the United States should be an extremely significant moment.
The United States had the potential to become the first really powerful republic since the Roman In the Battle of Actium in 31bc. Without US power, a German or a Russian dictatorship would have conquered Europe. Without the US example, democratic capitalism would not have spread worldwide. This would be a much poorer world that would be covered by all diseases of the despotism.
How I argued in A 2016 columnDonald Trump’s arrival in the political scene puts all of this on the game. The danger is much closer today. He survived his attempt to overthrow the result of the 2020 presidential election in order to return triumphantly in 2024. Trump is steadfast. The energy of this administration is changing the world.
Let’s start with the household front.
We observe an attack on the rule of law. Abbe Lowell, former defender of Jared Kushner and Hunter Biden, warns that Donald Trump urges us democracy to break. Measures include Executive regulations against law firms and the appointment of Unqualified loyalists to key positions. The most threatening of all, As Edward LucIs that Expansion of power and resources the immigration and customs authority that operates a lot Like a secret police.
The attack on the government was closely related. Elon Musk’s so -called Ministry of Government Efficiency was fraud. The goal was not efficiency, but submissiveness. It was to destroy independence from public employees. In particular, many valuable activities were destroyed The health programs of USAID. The costs will be huge.
Another aspect is Trump’s extensive use of emergency powers and executive regulations. He did 168 The latter In the first few months of this term, which brings its total amount to that of its youngest predecessors. Trump rules through decree. That is one of the signs of a dictatorship. (See diagrams.)
Another concern is Legitimization of corruption. This is probably unveiled his own behavior And that of his family. It is also shown in the Pause in the enforcement of the strange corrupt practices, once an example of good behavior.
But the war against science is more fundamental, a strong source of us extraordinary. Stanford’s Larry DiamondA leading expert for democracy writes: “The scope and depth of the devastation that Trump has in American leadership in science and technology is so massive and comprehensive that it is difficult to understand without using an absurd theory like this Trump, which is not an agent of imperial Russia, but of communist China”.
Last but not least, fiscal policy is just in the “in the” enact “A big beautiful Bill Act”. This guarantees large fiscal deficits In the indefinite future. This in turn also ensures enormous current account deficits, since the US economy is the US economy Map the balances supply and demand.
Now contact the effects on the international relationships between the US -international and global public goods.
Above all, the trade war is not over yet. The 90 -day break on the “Liberation Day” tariffs should have an end. No business was achieved with more than one handful of partners. This economically destructive war against US believers and, above all, the uncertainty that she creates continues. The trade war is an attack on the institutions created by the United States after the Second World War. It also harms us alliances. In a broader sense, all US obligations have doubts: Volodymyr Zelenskyy’s grotesque humiliation That showed in the White House.
The trade regime was a global public well -being. Another was the dollar regime. Here, too, Trump’s guidelines have had doubts about the stability of the currency and the credibility of his issuer. Although not least fully matches the attack of the movement to science, the virulent climate is “denialism”: if it is impractical, it cannot be true, the motto is. The obvious historical parallel is with LysenkoismThe ruinous Stalinist campaign against evolutionary biology.
Almost everything that Trump is done will weaken the USA in its rivalry with China. This rivalry can and must be managed in the interests of everyone. But I urgently want the basic values of freedom of expression, democratic politics, the rule of law and openness to the world as a whole to survive. Trump not only attacks these values at home, he wakes them abroad, in particular the destruction of the US credibility as an ally. How can one reasonably expect that a moody and tax -trained us, which destroys the core institutions and values, matches us with more than four -time population? This is certainly a imagination.
In just under six months, Trump has made enormous progress for a eighth of his term in his war in everything that the United States has successfully successful. Only the Maga base, Vladimir Putin and XI Jinping should feel happy. The most coherent part of the program is an attempt to transform the United States into a autocracy. Much of the rest is incoherent. In view of the obvious success in his first six months, however, it would be a hasty person who assumed that this counter-revolution will fail against all USA at home and abroad. You can hope. But Trump is doing very well.
