American Prestige Bonus - The Trump Tariff Order and the Future of U.S. Influence w/ Nicholas Mulder
Nov 16, 2025
Nicholas Mulder, a historian and writer at Weltinnenpolitik, dives into Trump’s tariff strategies and their impact on global economics. He examines how Trump's policies avoid taxing finance while increasing costs for U.S. allies. Mulder describes this approach as a 'subscription model' of empire rather than a solid industrial strategy. He also discusses the unintended consequences in countries like India and Europe, and how economic coercion has affected immigration policies and partnerships. The conversation reveals the complexities of U.S. economic influence in a shifting global landscape.
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Domestic Causes Drive U.S. Economic Pain
- U.S. domestic failures, not foreign competition, explain much of middle-America decline.
- Strong welfare and redistribution in Europe tempered deindustrialization compared with the U.S.
China Shock Began Before WTO Entry
- Outsourcing to China began in the 1980s as U.S. firms tried to compete with Japan.
- Deng Xiaoping's China was an ally of American business in undercutting Japanese costs.
U.S. Less Exposed To Trade Vulnerabilities
- The U.S. is relatively less trade-dependent than many countries, so exposure to Chinese goods affected it differently.
- European welfare systems absorbed shocks that the U.S. did not.