The Economic Consequences of Mr Trump.

Following the introduction of heavy tariffs by President Donald Trump in his second term in the White House, some of them punitive, and almost all of them ruled illegal by the US Court of International Trade and the Court of Appeals for the Federal Circuit 1, with a further appeal to the Republican-majority Supreme Court pending, this paper will examine the likely consequences of a trade war between the US and some of its major trading partners, such as China and the EU, for the American and global economies, with reference to the historical parallel of the 1930s. Trump’s attempts to wrest control of monetary policy from the Federal Reserve may signal that he intends to repeat the competitive devaluations (currency war) of the 1930s as well. It will also examine the effects of his fiscal policy on the US economy.