Principles and Consequences of the Trump Administration's Economic Nationalism Policy
Subject Areas : International Relations
Ali Sabbaghian
1
,
Masoud Fathipour
2
1 - Department of Regional Studies
Faculty of Law and Political Science
University of Tehran
2 - Department of Regional Studies
Faculty of Law and Political Science
University of Tehran
Keywords: ", Governmentalism", economic nationalism", the Trump administration", Trumpism", American political economy",
Abstract :
With the victory of Donald Trump in January 2017, significant changes took place in the US economy. These changes included the withdrawal of the United States from international agreements, the increase of customs tariffs, and the protection of domestic production. Emphasizing "America First" in his inaugural address, Trump sought new governmental approaches that would free the American economy from long-term problems. For Trump, this was possible by changing macroeconomic approaches. The decision had several reasons and consequences that are the subject of this study. Therefore, the main question of the present study is on what principles was the Trump administration's policy of economic nationalism based and what were the practical consequences? This article examines the hypothesis that the foundations of the Trump administration's economic nationalism stem from three elements: Trump's personality, Republican approaches, and external pressures, and its practical manifestation in the form of US withdrawal from international agreements or efforts to amend them, increase tariffs, and Support for domestic production has been evident. The research method used in this research is qualitative. Findings show that the implementation of the Trump administration's policy of economic nationalism has led to a conflict between US hegemonic requirements and greater isolationism. Hence, the decision-makers of the American foreign policy apparatus in this period have tried to reconcile the nationalist and globalist views.
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