MUHAMMADIYAH.OR.ID, YOGYAKARTA – U.S. President Donald Trump’s trade policies, particularly the controversial tariffs, have had a major effect on the global economy and sparked significant changes in international relations.
In a press briefing, the Minister of Finance of Indonesia Sri Mulyani explained that Trump’s tariff policy was intended to create balance and fairness in the global economy. However, it also brought uncertainty and disruption.
Speaking at a seminar titled “Trumponomics and Its Impact on the Global Political Economy”, organized by the Center of International Security Studies (COISS) at Universitas Muhammadiyah Yogyakarta on April 23, U.S. foreign policy expert Ratih Herningtyas said the impact of the U.S. tariffs began to show clearly in early 2025, with countries reacting in different ways.
Ratih also highlighted the situation inside the U.S., noting a drop in public support for Trump.
“Data shows that public approval of Trump dropped sharply, even within the first 100 days of his presidency compared to previous presidents,” she said. This decline in support was also seen in nine swing states that were key to Trump’s earlier election victory.
Meanwhile, International relations expert Ali Muhammad added a geopolitical perspective. He said the tariff policy reflected a growing U.S. tendency toward unilateralism since 2017.
“The U.S. pulled out of major global agreements, such as the Paris Agreement and the World Health Organization, which has created instability,” he said.
Ali warned that global trade has suffered as a result, with predictions showing a potential drop of up to 80 percent in 2025. “This could lead to a global recession,” he explained.
He also noted that the U.S. stepping back from international leadership has opened the door for other powers.
“When the U.S. loses the world’s trust, that leadership gap can be filled by China,” he said.
