The election of Donald Trump as the U.S. president in 2024 marks a historic return following his defeat in the 2020 elections. Upon his victory, Trump promised to end regional wars, tighten border controls, revive the U.S. economy, and implement economic policies that could impact the global economy, particularly the economies of the Gulf Cooperation Council (GCC) countries.
One of the key policies he is expected to address upon assuming office in the White House includes raising tariffs on imports from China, Europe, Latin America, and other countries in an attempt to bolster the U.S. economy. Additionally, he plans to reduce corporate taxes from the current 21% to 15%, issue broad licenses for American energy projects, and invest in advanced technology initiatives, among other policies. These measures are anticipated to have significant effects on both the U.S. and global economies.
Note: This article has been automatically translated.
Source: Akhbar Alkhaleej
Ali Faqeeh, Research Associate