Perspective: The Emancipation as Interpreted by Donald Trump
- Michel Santi
- May 2
- 3 min read
Columnist Michel Santi thinks that protectionism has evolved into a fundamental component of the contemporary global economy.
In our adversarial climate, each nation acts in its own self-interest. The lubricant of economies—globalization—is nearing its demise. Although merely yesterday nations united to develop laws and regulations they vowed to adhere to, they are now dismantling previous alliances and agreements. By utilizing subsidies and tariffs, they are striving to advance their own industries while simultaneously damaging those of their neighbors and former allies. Protectionism has transitioned from a transient crisis response to a fundamental component of the new global economy.
Blame should not be exclusively attributed to Trump, as trade obstacles were established prior to his reentry into the White House in 2025, especially targeting China, which has been accused of inundating the global market with inexpensive electric vehicles, steel, and other manufactured goods. South Korea and Vietnam acted as early as last February, responding to pressure from domestic companies overwhelmed by Chinese competition. Indonesia has increased duties on all Chinese products packaged in nylon. Globally, Mexico initiated anti-dumping investigations over Chinese chemical and plastic products. In October 2024, Canada slapped 100% tariffs on Chinese electric vehicles and 25% levies on Chinese steel and aluminum. In that same month, the European Union, previously a proponent of free trade, imposed duties as high as 35.3 percent on imported Chinese electric automobiles. Even Russia, China's "special partner," enacted legislation to impose taxes on Chinese automobiles, which now constitute 50 percent of new sales, up from under 10 percent in 2022.
As reported by Global Trade Alert, a trade monitoring organization located in Switzerland, there were 4,650 import restrictions implemented across G20 economies as of March 2025, a tenfold increase compared to 2008. This is a longstanding pattern that has already emerged under President Biden's administration. According to Global Trade Alert, import restrictions currently impact 90 percent of the 5,200 product categories classified in the U.S., an increase from 50 percent at the commencement of Trump's first term. The Tax Foundation, a U.S. think tank, cautions that American import taxes have reverted to levels not seen since 1946, described as "the highest in 90 years" by Fitch Ratings.
Image provided by ITEP
Consequently, Trump's second term signifies a substantial increase in tariffs, levies, and trade obstacles. A significant wave of trade reconfiguration is occurring worldwide. Even Trump's closest advisors are finding it challenging to temper his enthusiasm, as he openly expresses remorse for having been restrained during his initial term. He is currently contemplating a worldwide tariff on all goods from every nation, establishing tariffs as the hallmark policy of his presidency. We are on the verge of a significant escalation — a "Liberation," as Trump refers to it — scheduled to commence on April 2, 2025.
The objective of this protectionist wave is to replenish the Treasury's funds and recover lost employment opportunities. The U.S. administration asserts that only a significant reduction in the trade imbalance can reindustrialize the nation and more effectively support its blue-collar workforce. This premise is faulty, as it assigns undue significance to industrial occupations, despite the service sector being the predominant source of employment.
The administration is interfering actively and extensively to reform the economy in order to attain its aims. This is ironic and profoundly contradictory for both Trump and his constituents, who have consistently championed the reduction of state power. Nevertheless, the state, now more potent than ever, is anticipated to reinstate Americans' "freedom" and economic autonomy.
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