New rules and no rules: international business in the age of Trumpism

Purpose This viewpoint paper aims to examine how Trumpism and the resurgence of economic nationalism are reshaping the political context of international business (IB). It argues that IB scholarship should move beyond treating politics as a contextual constraint and instead make politicisation central to analyses of how the meaning, legitimacy and acceptable forms of cross-border economic activity are constructed and contested. Design/methodology/approach The paper adopts a conceptual approach, drawing on IB, international relations, political economy and political sociology. The contributions use illustrative examples from Trump administration policies and related contexts to examine how multinational enterprises (MNEs), states and societal actors co-constitute politicised business environments. Findings The contributions show that trade policy, foreign direct investment and MNE operations are increasingly embedded in narratives of sovereignty, national identity and geopolitical rivalry. MNEs are not only adapting to politicised environments but also helping to shape them through strategic, discursive and non-market actions. Research limitations/implications The paper calls for future research on how politicisation unfolds across institutional contexts, how firms engage in discursive and non-market strategies and how geopolitical narratives influence investment decisions and legitimacy assessments. Practical implications For managers and policymakers, the paper highlights that navigating contemporary IB environments increasingly requires attention to the symbolic and political dimensions of policy and strategy. Firms must manage not only regulatory and economic constraints but also the narratives through which their activities are interpreted by governments, the public and other stakeholders. Social implications The paper highlights how MNEs can shape public debates on globalisation, national identity and economic sovereignty, raising questions about their societal responsibilities in politicised environments. Originality/value The paper contributes to IB scholarship by shifting attention from politics as a contextual constraint to politicisation as a process through which the legitimacy and organisation of IB are actively constructed and contested.