Trump’s tariffs are about something more than economics: power
Tanking stock markets, collapsing world orders, devastating trade wars; economists with their hair ablaze are scrambling to keep up.
But as we try to make sense of Donald Trumps’s tariff tsunami, economic theory only goes so far. In the end this surely is about something more primal.
Power.
Understanding that may be crucial to how the world responds.
Yes, economics helps explain the impact. The world’s economy has after all shifted on its axis, the way it’s been run for decades turned on its head.
Instead of driving world trade, America is creating a trade war. We will all feel the impact.
Please use Chrome browser for a more accessible video player
PM will ‘fight’ for deal with US
Donald Trump says he is settling scores, righting wrongs. America has been raped, looted and pillaged by the world trading system.
But don’t be distracted by the hyperbole – and if you think this is about economics alone, you may be missing the point.
Above all, tariffs give Donald Trump power. They strike fear into allies and enemies, from governments to corporations.
This is a president who runs his presidency like a medieval emperor or mafia don.
It is one reason why since his election we have seen what one statesman called a conga line of sycophants make their way to the White House, from world leaders to titans of industry.
The conga line will grow longer as they now redouble their efforts hoping to special treatment from Trump’s tariffs. Sir Keir Starmer among them.
President Trump’s using similar tactics at home, deploying presidential power to extract concessions and deter dissent in corporate America, academia and the US media. Those who offer favours are spared punishment.
His critics say he seeks a form power for the executive or presidential branch of government that the founding fathers deliberately sought to prevent.
Whether or not that is true, the same playbook of divide and rule through intimidation can now be applied internationally. Thanks to tariffs
Each country will seek exceptions but on Trump’s terms. Those who retaliate may meet escalation.
This is the unforgiving calculus for governments including our own plotting their next moves.
The temptation will be to give Trump whatever he wants to spare their economies, but there is a jeopardy that compounds the longer this goes on.
Read more:
Do Trump’s numbers on tariffs really add up?
Trump hits island home only to penguins with 10% tariffs
Could America’s traditional allies turn to China? Pic: AP
Malcolm Turnbull, the former Australian prime minister who coined the conga line comparison, put it this way: “Pretty much all the international leaders I have seen that have sucked up to Trump have been run over. The reality is if you suck up to bullies, whether it’s global affairs or in the playground, you just get more bullying.”
Trading partners may be able to mitigate the impact of these tariffs through negotiation, but that may only encourage this unorthodox president to demand ever more?
Ultimately the world will need a more reliable superpower than that.
In the hands of such a president, America cannot be counted on.
When it comes to security, stability and prosperity, allies will need to fend for themselves.
And they will need new friends. If Washington can’t be relied on, Beijing beckons.
America First will, more and more, mean America on its own.
The King has written to former US president Joe Biden after he was diagnosed with an aggressive form of prostate cancer, Buckingham Palace said
The monarch, who is undergoing his own treatment for an undisclosed cancer, hosted the 82-year-old for tea and talks at Windsor in July 2023.
Mr Biden was diagnosed on Friday, with tests revealing the cancer had spread to his bones.
The former president posted an image of himself and his wife Jill on X on Monday and wrote: “Cancer touches us all. Like so many of you, Jill and I have learned that we are strongest in the broken places. Thank you for lifting us up with love and support.”
The King and Joe Biden at Windsor Castle in July 2023. Pic: Reuters
The King’s letter comes after British Prime Minister Sir Keir Starmer said he was “very sorry to hear President Biden has prostate cancer”.
“All the very best to Joe, his wife Jill and their family, and wishing the President swift and successful treatment,” he added.
Meanwhile US President Donald Trump said he was “saddened” by the news, adding: “We extend our warmest and best wishes to Jill and the family, and we wish Joe a fast and successful recovery.”
Former US president Barack Obama said: “Michelle and I are thinking of the entire Biden family.
“Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery.”
Read more: Biden diagnosed with ‘aggressive’ form of prostate cancer
Barack Obama (right) with Joe Biden at a campaign event in 2022. File pic: Reuters
After a poor debate performance against Mr Trump and amid escalating concerns around his age and fitness to serve, Mr Biden withdrew from the 2024 presidential election race and endorsed his vice president Kamala Harris.
Ms Harris wrote on X after his diagnosis: “We are keeping him, Dr. Biden, and their entire family in our hearts and prayers during this time.
“Joe is a fighter – and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership. We are hopeful for a full and speedy recovery.”
Please use Chrome browser for a more accessible video player
Mr Biden’s diagnosis: What we know
Former US president Bill Clinton wrote on social media: “My friend Joe Biden’s always been a fighter. Hillary and I are rooting for him and are keeping him, Jill, and the entire family in our thoughts.”
Hillary Clinton, who unsuccessfully ran for president in 2016, said she was “thinking of the Bidens as they take on cancer, a disease they’ve done so much to try to spare other families from”.
Speaker of the US House of Representatives Mike Johnson said it was “sad news” and his family “will be joining the countless others who are praying” for Mr Biden.
Read more from Sky News:
UK and EU sign reset deal – live updates
Gary Lineker to leave BBC next week
Listen to The World with Richard Engel and Yalda Hakim every Wednesday
Former House speaker Nancy Pelosi described Mr Biden as a “great American patriot” and said she was “praying for him to have strength and a swift recovery”.
Mr Trump’s secretary of state, Marco Rubio, wrote on social media that he and his wife were “united in prayer for the Biden Family during this difficult time”.
Politicians have sent messages of support to Joe Biden, who has been diagnosed with prostate cancer.
The 82-year-old, who is the oldest person to ever serve as US president, was described as a “fighter” with people wishing him a “fast and full recovery”.
US President Donald Trump said he was “saddened” by the news, adding: “We extend our warmest and best wishes to Jill and the family, and we wish Joe a fast and successful recovery.”
Former US president Barack Obama said: “Michelle and I are thinking of the entire Biden family.
“Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery.”
Read more: Biden diagnosed with ‘aggressive’ form of prostate cancer
Barack Obama (right) with Joe Biden at a campaign event in 2022. File pic: Reuters
British Prime Minister Sir Keir Starmer said he was “very sorry to hear President Biden has prostate cancer”.
“All the very best to Joe, his wife Jill and their family, and wishing the President swift and successful treatment,” he added.
After a poor debate performance against Mr Trump and amid escalating concerns for his health, Mr Biden withdrew from the 2024 election and endorsed his vice president Kamala Harris.
Ms Harris wrote on X: “We are keeping him, Dr. Biden, and their entire family in our hearts and prayers during this time.
“Joe is a fighter – and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership. We are hopeful for a full and speedy recovery.”
Please use Chrome browser for a more accessible video player
Mr Biden’s diagnosis: What we know
Former US president Bill Clinton wrote on social media: “My friend Joe Biden’s always been a fighter. Hillary and I are rooting for him and are keeping him, Jill, and the entire family in our thoughts.”
Hillary Clinton, who unsuccessfully ran for president in 2016, said she was “thinking of the Bidens as they take on cancer, a disease they’ve done so much to try to spare other families from”.
Speaker of the US House Of Representatives Mike Johnson said it was “sad news” and his family “will be joining the countless others who are praying” for Mr Biden.
Read more from Sky News:
UK and EU sign reset deal – live updates
Gary Lineker to leave BBC next week
Listen to The World with Richard Engel and Yalda Hakim every Wednesday
Former House speaker Nancy Pelosi described Mr Biden as a “great American patriot” and said she was “praying for him to have strength and a swift recovery”.
Mr Trump’s secretary of state, Marco Rubio, wrote on social media he and his wife were “united in prayer for the Biden Family during this difficult time”.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business3 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway