This current trade policy is driven by a 'grievance doctrine,' which views global trade as a zero-sum game instead of a mutual benefit.

On April 2, 2025, the United States implemented sweeping tariffs, fundamentally altering the global trade landscape.

These tariffs specifically targeted industries such as electric vehicles, semiconductors, and steel, leading to increased costs and disruptions in supply chains.

President Trump's speech framed foreign nations as exploiters of American labor, portraying tariffs as tools of retribution rather than effective economic strategies.

Despite their popularity, tariffs have proven ineffective in addressing the US trade deficit and revitalizing manufacturing, which require structural changes beyond mere border taxes.

As a result, businesses must adapt to a new reality where global supply chains are less efficient, making strategies like nearshoring and dual sourcing essential.

Historically, tariff shocks can lead to global retaliation, raising the risk of cascading protectionism as countries respond to US tariffs with their own.

The US's role as the cornerstone of the global trading system is increasingly challenged, highlighting the need for global cooperation to maintain trade stability and foster innovation.

In light of these changes, businesses should prepare for turbulence, adhere to international trade rules, and remain open to the possibility of future US re-engagement in global trade.

Looking ahead, three potential scenarios for global trade emerge: managed multilateral drift with increased regional deals, fighting trade blocs leading to a geopolitical split, and reglobalization without America, where other nations advance trade rules independently.