The effect on history of the last one — the Trump populist revolution — remains to be seen. What is certain, however, is that the Trump phenomenon, its support base and the logic of reform it represents, will not simply vanish.

His poorly conceived global tariff war will severely affect U.S. consumers, increase inflation, damage America’s reputation as a reliable partner and put the entire global trade system and practices that the U.S. once championed at risk.

US President Donald Trump’s “Liberation Day” announcement of sweeping new tariffs on imports from more than 180 countries will be remembered as a man-made economic tsunami. Many are already comparing it to President Herbert Hoover’s 1930 Smoot-Hawley Tariff Act, which slashed global trade by 66% in five years and deepened the Great Depression. Trump’s tariffs – most of which have been abruptly paused for 90 days – have rattled financial markets, prompting analysts to warn that the United States could enter a recession in 2025.

If the Trump administration remains oblivious to the dangers and provocations of Lai Ching-te’s policies, the confrontation between Beijing and the United States over the island will intensify.

The second Trump administration’s China policies have thus far been very opaque and difficult to discern. However, in recent weeks a variety of indicators are beginning to make them clearer—and one dominant theme emerges: China will be viewed as America’s principal adversary.

The introduction of reciprocal tariffs represents a pivotal shift in U.S. trade policy. The move from multilateral trade engagements to bilateral or regional agreements is a strategic effort to redefine international trade and ultimately give the United States an advantage.

Trump’s foreign policy moves have been polarizing to say the least - but with competing voices within his own cabinet involved, the strongman approach may not be the ultimate outcome of the early administration’s moves.

Talks are underway for a U.S.-China summit this spring, with the choice of venue crucial to balancing Trump’s unpredictability and Xi’s preference for control. Hawaii and Hainan stand out as potential neutral sites, offering luxury, security, and a level playing field for both leaders.

Trump’s Oval Office ambush of Ukrainian President Zelensky highlights the unpredictability and volatility of U.S. diplomacy under his second term—an unsettling prospect for China as it prepares for a potential Trump-Xi summit. With Trump emboldened and increasingly unpredictable, China may face new challenges in navigating an engagement with a leader who thrives on disruption.

Peter Hegseth’s inability to name an ASEAN country underscores the Trump administration’s broader indifference to Southeast Asia, favoring trade protectionism, military burden-shifting, and transactional diplomacy over sustained regional engagement.