The Trump administration’s first 100 days in office were defined by a foreign policy approach that experts argue destabilized global trade norms and triggered widespread economic repercussions. Analysts highlight aggressive trade protectionism, including reciprocal tariffs imposed in early 2025, as a central driver of financial turbulence and geopolitical uncertainty.
Markets in Meltdown
U.S. stock indices like the Dow Jones and S&P 500 saw declines exceeding 8%, while Treasury yields surged and the dollar index dropped by 5% since February. Financial leaders, including Bridgewater Associates’ Ray Dalio, warned that these policies risked a "1930s-style depression" by disrupting monetary and geopolitical stability.
Global Trade Erosion
The World Trade Organization revised its 2025 global trade growth forecast downward by 4 percentage points, citing the U.S. tariff measures. Import prices in the U.S. spiked, triggering panic buying and stifling domestic manufacturing revitalization efforts. Instead of boosting competitiveness, critics say the tariffs choked supply chains and corporate profits.
A Self-Inflicted Crisis?
Zhang Tengjun, deputy director at the China Institute of International Studies, described the administration’s strategy as a "quagmire of strategic chaos" driven by hegemonic logic. The measures, framed as "America First," have drawn criticism for accelerating economic self-sabotage rather than fostering resilience.
