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America After the Election: What Does Donald Trump's Election Win Mean for the USA and Europe?

Author

Listed:
  • Harm Bandholz
  • Detlef Junker
  • Thomas Jäger
  • Holger Schmieding
  • Josef Braml
  • Stormy-Annika Mildner
  • Julia Howald

Abstract

Donald Trump's surprising victory in the US presidential elections has created a great deal of uncertainty. For Harm Bandholz, UniCredit Group, New York, only one thing is certain at the moment: "The uncertainty that the new president brings with him." The major threat to the world economy is that of greater protectionism. The argument put forward by Detlef Junkers, Heidelberg Center for American Studies (HCA), is that: "Trump will lead us into a double crisis: a further fragmentation of the USA and a weakening and fragmentation of the Transatlantic West." For Thomas Jäger, University of Cologne, Trump has "flexible beliefs" with a clear focus on the economic success of his presidency. Holger Schmieding, Berenberg, fears that Donald Trump's election victory could have severe consequences for Europe, whereby the political risks outweigh the economic opportunities. Josef Braml, German Society for Foreign Policy, expects Donald Trump's nationalistic economic programme to further increase US government debt. If the USA does not take timely steps to counteract this, the country may face financial collapse and political paralysis, with far-reaching consequences for the world economy. Stormy-Annika Mildner and Julia Howald, BDI, see Trump's trade policy announcements as a bitter setback to transatlantic economic relations. Giving up TTIP would mark a lost opportunity for both the EU and the USA.

Suggested Citation

  • Harm Bandholz & Detlef Junker & Thomas Jäger & Holger Schmieding & Josef Braml & Stormy-Annika Mildner & Julia Howald, 2016. "America After the Election: What Does Donald Trump's Election Win Mean for the USA and Europe?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(23), pages 03-22, December.
    • Handle: RePEc:ces:ifosdt:v:69:y:2016:i:23:p:03-22
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    References listed on IDEAS

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    1. Marcus Noland & Gary Clyde Hufbauer & Tyler Moran & Sherman Robinson, . "Assessing Trade Agendas in the US Presidential Campaign," PIIE Briefings, Peterson Institute for International Economics, number PIIEB16-6, October.
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    More about this item

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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