Have Trump’s customs duties killed the economy of globalization around the world?

The British Prime Minister at Downing Street said that globalization was not only failing, but also completely, in a shocking statement issued a few days ago. But according to what was published by the British newspaper “The Guardian”, what is currently happening is still more like an autopsy, while the real victim may be the economic populism that was strangled by the policies of “Wall Street”, the stronghold of globalization, in what appears that what was called the “liberation day” announced by US President Donald Trump, may actually be the day of burial of globalization.

Official denial to try to drop globalization

In the face of this reality, Trump aides are rushing to emphasize that the White House goal was never to hit globalization, or even protect the American economy through customs duties, but rather to reduce global fees and punish China for its commercial practices.
Also read: Including China .. Trump: Customs duties will be concluded with all countries

However, these justifications that promote media lack credibility, especially in light of Trump’s repeated statements in which customs duties are praised as a way to increase public revenues and support the local manufacturing sector.

Restructuralism of global trade .. a suicide mission

The Guardian confirms that the markets have not tolerated Trump’s attempt to redraw the global trade map overnight, a step that former British Treasury Jim O’Neil described as a “comprehensive suicide mission.” The markets faced great disorder, severe fluctuations, and the absence of stability.
Also read: Morgan Stanley: America is the most affected by Trump customs definitions

Customs dispute with China is the most violent in a century

Yale University data indicates that the average actual customs duties between the United States and China reached 27%, which is the highest level since 1903, which confirms that the trade conflict between the two economic powers exceeded mere commercial dispute to a comprehensive economic war.

Deep repercussions on the global system

This approach weakened confidence, violated internationally agreed commercial rules, and undermined a degree of political stability that was necessary to continue Globalization system It relies on cross -border supply chains. Globalization was not just an exchange of goods and services, but rather an integrated system of institutions and ideas that dominated the global economy since the end of World War II.

The end of an 80 -year American leadership

With this transformation, the era in which the United States has taken over the leadership of the global economic system, through confidence -and -exchange alliances, appears to have ended. Analysts note that today we are witnessing features of a new world -lower and more open world order.

Crowgman: Trump destroyed one of America’s greatest achievements

The Nobel Prize -winning economist, Paul Crujan, commented that Trump has retracted one of the pillars of modern American trade, which is the “mutual trade agreements law” approved in 1934, and wrote: “It was one of the greatest achievements of American policy … and Trump burned everything.”

Commercial restrictions escalate globally after the financial crisis

Since the global financial crisis in 2007-2008, the world has witnessed an escalation in the registered measures of trade such as fees, non-customs controls, and investment restrictions. In 2024 alone, more than 3000 new commercial measures were imposed, which shows a global shift towards protection and isolationism.

National security is an argument for imposing fees

Several countries, in all their orientations, took advantage of the pretext of national security to justify the imposition of strict customs duties, and to place restrictions on foreign trade and investment. New terms have also emerged in economic discourse such as “regional approach” and “geopolitical positioning”, which are concepts aimed at align supply chains with the interests of geopolitical states.