Over the course of the last few weeks, I have seen a popular discourse online of dread at Donald Trumpsā recent election as US president. I believe itās important to not only know whether you approve or disapprove of his manifesto, his morals and who he is as a person, but how the New York billionaireās presidency can impact you and I in the UK. So, here is a broken down, slightly simplified version of the sorts of things we can expect to see in the coming months.
Unfortunately, Trumpās protectionist trade policies, including tariffs and incentives for US based production, has the potential to raise the cost of living even further for British consumers by contributing to inflation via increased costs of imported goods, including electronics, vehicles and agricultural products. The National Institute of Social and Economic Research has predicted that Trumpās policy for a 10% rate of tariffs on all goods exports to the US would reduce the UKās GDP growth by 0.7 percentage points, contrasting dramatically with the 0.1% growth our economy saw last year.
Despite Keir Starmer offering a āheartyĀ congratulationsā to Trump upon his election, it is evident that he is not Donaldās biggest fan, underscoring the significance of Trumpās win for UK-US relations. Trumpās presidency will likely intensify pressures on Starmer and his government. The US president seems to plan to curtail military aid, creating a stark divergence from Starmerās āiron-cladā backing of Ukraine. With a record-high budget and unprecedented spending under Labour, Trumpās return could force the UK government to prioritise defence funding to uphold NATO commitments. If the UK feels compelled to increase defence spending, it could lead to cuts in other public services or higher taxes, directly affecting household budgets.
Additionally, Trumpās tough immigration stance could affect British citizens traveling to, or working in, the US. Visa restrictions might become more stringent, increasing the complexity and cost of visiting the United States. Families planning holidays, students pursuing education abroad, and professionals working in transatlantic roles could all feel the pinch.
Trumpās presidency may influence social and political debates within the UK. His divisive approach to immigration, climate policy, and global diplomacy could inspire similar ideological divides in Britain. Discussions around national identity, public spending priorities, and international commitments might grow more intense, influencing public discourse and policymaking.
Lastly, Trumpās rollback of green initiatives could slow international progress on climate change, discouraging Britons who prioritize environmental sustainability and leaving them concerned about the future of global cooperation.
While Trumpās presidency may seem far removed from daily life in Britain, its impacts could be felt in higher costs of living, shifting public priorities and evolving global relationships, all of which have a real effect on every one of us.