The Duran Podcast Liberation Day, the end of globalization
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Apr 3, 2025 The discussion kicks off with the profound impact of 'Liberation Day' tariffs, designed to invigorate U.S. manufacturing while reshaping Vietnam's geopolitical ties. It then delves into the fading dominance of globalization, as U.S. tariffs signal a retreat from international leadership and prompt a reassessment of trade agreements. The vulnerabilities of the EU amid these shifts become apparent, especially in relations with Russia. Finally, the varied reactions among EU leaders to sanctions and tariffs reveal deep frustrations and complex challenges ahead for European governance.
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End of Globalization and Unipolarity
- Trump's tariffs signal the end of globalization centered around the US market and dollar.
- This shift also suggests the end of the unipolar moment, as the US retreats from its global hegemon role.
Lack of US Backlash
- There's little backlash against these tariffs within the US, indicating a shift in public opinion.
- This suggests a move towards protectionism and onshoring, likely to persist regardless of future administrations.
WTO's Irrelevance
- The World Trade Organization (WTO), designed to uphold globalization, becomes irrelevant.
- The US, its pivotal member, no longer supports the globalized system, leading to the WTO's likely dismantling.