Image Source : Business Standard
Donald Trump’s second term, dubbed “Trump 2.0,” is expected to usher in a new economic vision for the global economy. The Trump administration’s policies, combined with the strategic oversight of the new US Treasury Secretary, could offer unique opportunities for those prepared to adapt. According to Oxford Economics, a Trump presidency with potentially full Republican control of Congress has prompted a slight increase in global GDP growth forecasts .
Trump’s economic vision is expected to focus on energy independence, with plans to expand oil drilling and shale gas fracking, positioning the US as a leading energy exporter. This strategy may disrupt global supply chains, especially in the Indo-Pacific and Europe, where nations may need to pivot towards US energy imports . Additionally, the Trump administration may push for increased tariffs on international imports, which could affect supply chains and exacerbate tensions in trade relationships with key partners such as China and the European Union .
The Trump administration’s policies may also have significant implications for India, a key US partner. The structural depth of their bilateral relationship, spanning defense, security, trade, and technology, will continue to drive cooperation. However, longstanding issues like technology transfer restrictions under the International Traffic in Arms Regulations (ITAR) could resurface, requiring deft negotiation South Korea’s Police Blocked from President’s Office Raid.
Overall, Trump 2.0 is expected to bring significant changes to the global economy, with both opportunities and challenges arising from the administration’s policies. As the world adapts to this new economic vision, it will be essential to stay informed and agile in response to the evolving landscape.
