đ¨đ¨Trump Eyes Lighthizer for US Trade Policy: Aggressive Moves Expectedđ¨đ¨
Donald Trumpâs return to the presidency is already reshaping US policy, with plans to appoint Robert Lighthizer as U.S. Trade Representative (USTR). Known for his tough stance on trade and leading Trumpâs initial trade war against China, Lighthizer is poised for a comeback that signals a revival of Trumpâs hardline âAmerica Firstâ strategy.
Lighthizerâs No-Compromise Approach
Lighthizer, who made waves during Trumpâs first term with aggressive tariff policies and a relentless focus on protecting American manufacturing, is being offered the top trade role despite his interest in other positions like Commerce or Treasury Secretary. His history includes implementing steep tariffs and battling the World Trade Organization (WTO), which he once called a âfailedâ system.
Trade Policy and Market Jitters
Trumpâs election win has already sparked global concern, with analysts warning of significant impacts on trade and markets. Lighthizerâs return is expected to lead to higher tariffs, especially targeting China with rates as high as 60% on imports. Trumpâs approach may also extend to European goods, risking a surge in consumer prices and trade tensions.
Global Reactions and Economic Outlook
European and Asian markets are bracing for disruptions. Analysts from Signum Global Advisors and Macquarie Group warn that a second Trump era could mean heightened trade volatility, with Europe and China in particular preparing countermeasures. Economists predict immediate effects might be minimal, but the long-term implications could be substantial, reshaping global trade and financial landscapes.
Trumpâs bold moves aim to solidify his control over US economic policy, promising tax cuts and deregulation while setting the stage for tough international negotiations. The world is watching closely as this new chapter unfolds, with potential shockwaves ready to impact the global economy.
