A Neo-Mercantilist Analysis of the Political Economy of U.S. Foreign Policy under Trump's Rule

Abstract

Liberal economic policies mostly embodied after Second World War constitute the basis of the U.S. political leadership. Relying on their economic superiority, U.S. governments have consistently implemented policies that facilitate the free movement of goods worldwide. However, the 2008 economic crisis in the United States, which then spread across the world, called into question the current liberal economic order. The leader who has proba-bly questioned this system the most is Donald Trump, elected President of the United States in 2016. Trump blamed the decline of U.S. global power on the international political-economic system established by the U.S. itself, both during his election campaign and dur-ing his presidency. In this context, it is understood that Trump envisioned reviving the United States through neo-mercantilist policies inspired by the slogan “Make America Great Again.” Nevertheless, these policies have adversely affected the international system led by the United States, prompting Trump to take steps to exit what he sees as an obstacle. Furthermore, the policies implemented by the U.S. itself have been perceived negatively even by its allies, causing the U.S. to become isolated in foreign policy.

Keywords

• united states
• neo-mercantilism
• foreign policy
• donald trump
• political economy