United States: “National Egoism” Policy under the COVID-19 Pandemic

Abstract

The rising “national egoism” in the US economic policy has been taken place since D. Trump’s inauguration (January 20, 2017), with focus on protectionist measures, priorities for domestic production; on encouraging US companies to invest at home instead of foreign markets; control the fields of foreign investors in the American economy, etc. Covid-19 pandemic seems to have a massive impact on global diffusion of “national egoism” practices, making states more isolationist. The outbreak of the coronavirus has already become an important factor of influence on the national economies and relations between them. The article reviews the ways COVID 19 pandemic is intensifying the economic policies of President D. Trump based on nationalism, pointing out the trade and investment restrictions, their global effects. In light of the uncertainty about the pandemic’s duration and its economic impact, the paper is focusing on the immediate and more long-term global consequences of the US economic policy. All sorts of US government policy innovations during Trump’s presidency, including imposing and threatening to impose sanctions (which become usual, as to the US policy, before pandemic), tariff protections have their effects, spreading around the globe. Most of the new policies have become even more important under coronavirus pandemic, particularly concerning major strategic competitors of the United States. The American approaches to developing new rules and updating existing ones for the international connections, new import and export control actions are designed to promote economic objectives and political objectives as well. Being a powerful political and economic actor US have many instruments to influence the relations between countries. At the same time reinforced “national egoism” practices can make the economic and international trade recovery even more sluggish in the post – pandemic world.

Keywords

• economic policy
• us
• international trade
• covid-19