The President Donald Trumpthat I had promised, among other things, to clean up the economy and achieve a peace agreement between Russia and Ukraine “on the first day of my presidency”, will turn a hundred days in the position on April 30, and even some of its main defenders admit that it has been a disaster.
The S&P 500 stock index has fallen up to 10% in the first three months of the second government of Trumpthe worst fall in that period of any US president since the great depression, according to Dow Jones Market Data.
The tariffs of Trump to friends and adversaries, which the president had to partially reduce before a wave of criticism, have led to International Monetary Fund (IMF) to forecast a world economic slowdown. He IMP It now projects that world economic growth will fall from 3.3% last year to 2.8% this year.
International tourism to USA has fallen significantly since Trump He assumed command on January 20. The news about German and Canadian tourists arrested during the mass deportations of Trump scared many potential visitors. In March, foreign tourism to USA It fell almost 12% compared to the same month last year, according to official figures.
Instead of increasing world respect for US government, the promises of Trump To buy Greenland, resume the Panama Canal and turn Canada into the 51st state of USA. They have converted to Trump in the world’s laugh.
Meanwhile, China could not be happier with Washington’s break with its traditional allies and with the almost total cuts of foreign aid and the programs to support democracy of the democracy of USA For Africa and Latin America.
On the internal front, the attacks of Trump Democratic institutions have climbed almost daily. His forgiveness at the 1,600 convicts who broke into the Capitol and wounded dozens of police on January 6, 2021 took many of his voters by surprise.
A new Survey of the Fox News chain, which usually supports Trump enthusiastically, shows that 55% of Americans disapprove of the general performance of Trumpwhile 44% approves it. Another PEW Research survey places Trump’s general approval rate by 40%.
The clearest and most concise critic that I have heard so far about the performance of Trump Miamense billionaire wine and a great donor of Trump Ken Griffin.
The Republican tycoon said on April 23 that the trade war initiated by Trump has caused enormous damage to USA.
“USA It was more than a nation. It is a brand. It is a universal brand, either for our culture, for our financial strength or by our military force. It was like an aspiration for most of the world. And now we are eroding that brand, ”said Griffin.
In fact, USA It owes much of its economic power to the international perception that it is a country of strong institutions, and that it is not at the mercy of the whims of the ruler on duty. Latin Americans have always saved in dollars because they see the US currency as a refuge against instability.
But now many foreigners have begun to sell dollars and treasure bonds United States To diversify your savings.
“No brand approached the fortress of the US dollar and the strength and solvency of treasure bonds,” said Griffin. “We have put that brand at risk.”
Alberto Bernal, Global Estratega Chief of XP Securities, until recently an enthusiastic in favor of Trumphe wrote last week Trump Its commercial war continues, the US economy will probably fall into a “deep recession.”
“I supported Trump Due to his promises of tax cuts, but I never imagined that he would increase tariffs to the highest levels from the great depression, ”Bernal told me.
I would not be surprised that Trumpbefore the disaster he has caused, he continues to reverse and further reduce his tariffs.
But the damage is already done. It will not be easy to recover the credibility of the United States after these first hundred days of its erratic government.
–Glossado and edited–
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