Trump 2.0 – New American Protectionism and Tariffs

The aim of this report is to analyze the impact of the tariffs announced during the first four months of President Trump's second presidential term on both the U.S. economy and the global economic system. To this end, we first explore the broad ideological currents-chiefly American exceptionalism and economic nationalism, that shape the Trump Administration, illustrating them with examples from Trump's 2024 presidential campaign. The evidence presented throughout will demonstrate that the discourse and actions of what this report refers as "Trump 2.0" are not mere populist rhetoric, but a strategic choice intended to preserve U.S leadership in the world economy.