Will Donald Trump's 'America First' Slogan Destroy the US Economy?

thecekodok


The 'America First' ideology brought by President Donald Trump generally reflects an approach to domestic activities over international ones, and elevates the United States as a great country in trade.


This is due to the status quo of the US position as the world's largest importer and exporter according to the World Trade Organization report.


However, this approach is now causing instability in the US economy and sparking market concerns, especially domestic growth.


During the early days of Trump's inauguration, he imposed high import tariffs, including 145% on Chinese goods.


The move affected the global supply chain, reduced port activity, shortages of foreign goods and could affect labor data in the logistics and retail sectors.


In addition, several long-term threats with investors seeing the United States facing rising inflation and slowing global economic growth.


Southeast Asian countries that are global technology product producers are united when the burden of Trump's tariffs by diversifying their export destinations.


This will also strengthen China's position as a world economic power as most countries begin to see the risks of trading with the United States.