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Tag: trade and constitutional law
Trump Signals Return to Protectionist Policy with Announcement of Major Trade Deal: Legal and Policy Implications of a Renewed Economic Nationalism
Former President Donald Trump announced on May 8, 2025, that he would be holding a press conference to reveal a "major" new trade deal, should he win the presidency again. Without specifying the country involved or any deal terms, the announcement has already catalyzed intense speculation across global markets, legal circles, and foreign policy communities. The declaration, while ambiguous in substance, suggests the likely continuation or expansion of Trump's "America First" trade philosophy that defined his administration from 2017 to 2021.
GDP Contracts for First Time in 2025 as U.S. Faces Deepest Trade-Induced Slump Yet
In early 2025, the United States economy experienced its first contraction since the height of the COVID-19 pandemic, with gross domestic product (GDP) shrinking by 0.3% in the first quarter. While several factors may contribute to economic fluctuations, this downturn occurred against the backdrop of a bold and aggressive trade policy initiative: the reimposition and expansion of tariffs under the renewed administration of President Donald J. Trump. Characterized by nationalist economic rhetoric and sweeping executive action, the new trade agenda triggered both domestic economic disruption and international diplomatic unease.