New Protectionism and Trade Wars in Foreign Trade: Trumpism
New Protectionism and Trade Wars in Foreign Trade: Trumpism

Summary/Abstract: Protectionism in foreign trade includes government policies designed to restrict imports and support local industries. These policies consist of the implementation of tools such as tariffs, quotas, subsidies, and trade restrictions that aim to protect local economies from global competition. While protectionist measures in foreign trade support local industries and lead to increased domestic employment and reduced unemployment, they also carry the risks of causing several problems such as economic inefficiencies, trade wars, and higher costs for consumers. The two main objectives of this study are to demonstrate through historical analysis that protectionism in foreign trade is not a situation specific to the Trump administration. The second is to examine the possible outcomes of Trump’s protectionist policies in foreign trade that he will implement during the 2025-2029 period. As a result of the study, it is demonstrated through a historical analysis that protectionism is not a situation specific to the Trump administration. The possible economic outcomes of Trump’s protectionist policies in foreign trade that he will implement during the 2025-2029 period are; While it is expected to cause a weakening of economic growth, an increase in inflation and unemployment on a global scale, its geopolitical and social consequences are expected to be the rise of tensions on a global scale, an increase in regional polarization, the rise of nationalism and anti-globalization sentiment, an arms race and paving the way for war.

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