US Politics in the “Trump Era” is the Theme of a Webinar

The economic policy of the United States under Donald Trump was one of the topics addressed by strategic commodities consultant Pablo Maluenda during a webinar hosted by the Brazilian Wheat Industry Association – Abitrigo, earlier this week. According to the expert, the protectionist stance of the US government has generated uncertainty in the commodities market and could lead to a global recession.

Abitrigo’s superintendent, Eduardo Assêncio, describes this moment as an opportunity to understand the impact of this turbulent scenario on the economic market. “The world seems to have lost faith in the potential of globalism. Then, people like Trump appear and promote significant changes in the world order, and a healthy concern arises to understand how this affects our lives,” he began.

Maluenda highlighted the use of the slogan “America first” by the US president. “It is a motto that was widely used in the 30s, before the war with Germany. Today, it is resurfacing to convey the message that ‘everything for America, the rest of the world doesn’t care’,” he said.

In Maluenda's analysis, this strategy could represent the end of globalization by privileging internal economic interests, with the implementation of import tariffs that increase costs for North American consumers and companies.

“The Trump administration is focused on containing inflation without causing a recession, but has shown indifference to the impacts of this strategy on the private sector,” he summarized.

The expert highlighted that the US is one of the largest exporters of grains and oilseeds in the world, with exports of corn, wheat and soybeans totaling 124 million tons in the 2023/24 harvest. However, trade disputes with countries such as Mexico, China and Japan, its main markets, generate uncertainty about the future of American exports.

Despite the challenging scenario, Maluenda pointed out one positive factor: the devaluation of the US dollar against the Canadian dollar could bring opportunities to some agricultural markets. “The economic situation requires attention and constant monitoring by players in the sector,” he said.