- The global economy has entered a new era. Existing geopolitical shocks are being amplified by the second Trump administration’s emphasis on power over rules. Upon returning to office, Donald Trump has sought to redefine the global order, turning away from the rules-based system and multilateralism that the U.S. helped establish after World War II.
- Amid ongoing geopolitical and digital upheaval, the tariff war has accelerated a broader shift toward a tripolar world—anchored by the United States, China, and powerful transnational corporations (TNCs), whose global reach gives them influence comparable to that of nation-states.
- This shift carries a cost: economic uncertainty has surged, and global growth forecasts have been sharply downgraded.
- Since Trump returned to power, the dollar has weakened, as he intended. However, this depreciation reflects growing doubts about the sustainability of U.S. debt in the context of Trump’s economic and trade policy and tax cuts, prompting a notable rise in 10-year Treasury bond yields. Together, these diverging trends underscore the complexity and contested outcomes of Trump’s economic agenda.
Senior Analyst I Economic analysis and International affairs
Félix Escobar Gómez
Analyst I Economic analysis and International affairs
