The Trump presidency

Given his nationalistic rhetoric all through the election campaign and post-victory, no power transfer event in the US generated as much interest, inside and outside the country, as President Donald J Trump's inaugural speech and the spate of executive orders that he issued. It turned out to be quite radical by American standards. Notwithstanding its populist message with religious overtones that resonate with his supporters, he accused the Washington establishment of "protecting itself abandoning regular citizens who have suffered from poverty and crime" describing it as a carnage that "stops right here and stops right now." He vowed to pursue "America First" policies, saying "every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers and American families."
President Trump's domestic critics though like to remind him that it was a carnage when Obama administration took over amidst a financial crisis and turned around the economy from the verge of depression, instituting regulations, helping the auto industry stand back on its feet, bringing about a reduction in unemployment rates to a decent five percent and the annual deficit down to 72 percent. It is also true though that increasing income inequalities have generated an underclass backlash in Western countries from the US to Europe, creating unrest in those societies. As a result, political parties with nationalistic agendas are gaining strength, one manifestation of which has been the recent Brexit vote as well as rising popularity of xenophobic leaders in different European countries. Unless the ruling elites make course correction this trend is expected to intensify. While Trump's inward looking 'America First' vision promises betterment in the lives of those left behind, his protectionist stance holds significant repercussions for the global economy. Although he did not name the country, it was obvious he had China in mind - on whose products he had earlier promised to impose a blanket 45 percent tariff - when he averred "we must protect our borders from the ravages of other countries making our products, stealing our companies, and destroying our jobs. Protection will lead to great prosperity and strength." Such extreme protectionism, it goes without saying, would trigger trade wars, leading to unpleasant consequences for all involved.
'America First' also means, as he had said earlier, the US is not going to pay for the European countries' share of contributions to Nato expenditure, which deeply annoys his country's Nato partners as well as the Washington establishment. If that is not unsettling enough for them, he has also been showing eagerness to work with rather than against Russian President Vladimir Putin, indicating not only sanctions placed on Russia for its intervention in Ukraine can be lifted, but that he might also accept Russia's position in relation to Crimea. From the perspective of impartial observers, such cession of rivalries between the two powers would be a welcome change as it would lessen military conflicts in the world and unnecessary suffering by those caught in the two camps clashing interests. That will also help resolve Syria and, equally if not more importantly, turn the focus on the common enemy, as Trump vowed to "unite the civilised world against radical Islamic terrorism." Only time, therefore, will tell if the foreign policy-related pronouncements Trump has been making are to match up with his policy decisions.