TRADE POLICY IN THE TRUMP ERA: GLOBALIZATION, TRADE WARS, AND U.S.-BRICS COUNTRIES TARIFF RELATIONS – AN EMPIRICAL ASSESSMENT

<p>This article analyzes the transformative shift in U.S. trade policy during Donald Trump’s presidency, characterized by a move from traditional free trade toward protectionism through the implementation of tariffs and trade restrictions. Employing a mixed-method approach, including econometric modeling and secondary data from global institutions, the study evaluates the economic and geopolitical impacts of these policies. Findings indicate that Trump’s protectionist measures, notably tariffs on Chinese imports, led to increased consumer costs, reduced export competitiveness, disruptions in global supply chains, and slower economic growth domestically and internationally. Empirical evidence underscores that the primary welfare losses were borne by U.S. consumers and firms, with significant global trade contractions and regional disparities. The escalation of trade wars, especially with China, contributed to trade fragmentation, supply chain realignment, and weakened multilateral institutions. The analysis highlights the long-term costs of unilateral protectionism and emphasizes the importance of balanced trade strategies that integrate protection with multilateral cooperation. Key lessons from the Trump era stress the need to harmonize economic resilience with strategic geopolitical considerations, advocating for policies that promote sustainable global trade and supply chain diversification. These insights are crucial for shaping future U.S. trade strategies that aim to mitigate protectionist harms while safeguarding national interests in an interconnected world. The research examines emerging and urgent issues that are becoming increasingly vital in our dynamic, globalized environment, underlining their importance in the present context.</p>