Financial Times: How could Trump destroy his own political movement?
The Financial Times, published an article by Gideon Rachman, who talks about, How Trump Could Destroy His Political Movement.
Rachman believes that US President Donald Trump is the “Make America Great Again” movement’s greatest asset, but also its “greatest liability”.
This movement, known by its acronym MAGA, is a political organization that brings together supporters of President Trump from across the social and political spectrum in the United States.
Trump used the phrase “Make America Great Again” as a political slogan in his 2016 presidential campaign, as well as in 2024.
Trump praises the MAGA movement… Who are its supporters? What is their ideology?
Trump imposes additional tariffs… Which countries are affected and how did they respond?
Rachman believes that “Trump is a political genius, but he is also, as his first Secretary of State, Rex Tillerson, is credited with, a ‘fool’ when it comes to understanding politics”.
Rachman believes that this tension between the genius Trump and the “idiot” Trump poses a threat to the “Make America Great Again” movement, which Trump founded and leads.
According to the article, Trump’s “genius” enabled him to completely reshape American politics after winning the presidential election by a decisive margin, giving him absolute power within his party and enabling him to do whatever he wants.
However, the problem is that what he wants is likely to be extremely destructive to America.
Rachman provides examples of this, most notably the imposition of tariffs on US imports from certain countries.
“The most obvious example of the self-destructive nature of Trump’s policies is his obsession with tariffs,” he wrote.
The US president cannot, or won’t, understand that tariffs are paid by importers, and that a large portion of the cost will be passed on to consumers.
He also considers the unpredictability of his decisions to be a virtue.
So, tariffs are imposed, lifted, and then re-imposed, seemingly on a whim.
The result is that businesses cannot plan for the future, and consumers and investors panic.
Trump has committed many “disgraceful acts” in the past, such as attempting to overturn the results of the 2020 presidential election.
But few of his previous actions have impacted the daily lives of ordinary Americans, and it would be different if he had caused an economic recession, high inflation, or a stock market crash, the author says.
The article continues, “About 60% of Americans own stocks, often in their retirement funds. Many will be dismayed by the recent decline in stock prices. Consumer confidence is also declining, with inflation expectations rising”.
Rachman pointed to Trump’s tendency to provoke conflicts with America’s neighbors and allies, including threatening to annex Canada—another ludicrous idea—which sparked an unnecessary trade war with a peaceful neighbor.
“If Canadians retaliate by raising the price of oil or electricity exports to the United States, ordinary Americans will suffer. Tariffs on Mexico could also raise store prices. About 50% of the fruit imported to the United States comes from Mexico. The profits of the Big Three American auto companies could be wiped out by a 25% tariff on imports from Canada and Mexico,” Rachman wrote.
Finally, Rachman believes that the economic impact of Trump’s policies will determine the future of his presidency, but he also puts Americans at risk in other ways, such as by firing FBI agents and intelligence officers and appointing two conspiracy theorists to head the National Intelligence Service and the FBI.
“Watching Trump unleash his inner stupidity on the US government reminds me of a prediction I heard from a prominent American businessman in January: If Trump does even half of what he promised, this whole thing will blow up. It will discredit the MAGA movement for a generation”.
