PM [1]
Rank : Helper
Status : Super Owner
#1
President-elect Donald Trump is just hours away from taking office, but the world can already feel the impact of his presidency. Since his election victory in November, the anticipation of his second term has had far reaching consequences from Kyiv to Ottawa to London, as per a report in the BBC.
Ceasefire deal in Gaza
The Middle East already sees an impact with the ceasefire deal in Gaza even before Trump starts his term at the Oval Office. Trump justifiably revelled in the glory of getting the ceasefire deal in Gaza, since President Biden did not put enough pressure on Israel. In May 2023, Biden had put a ceasefire deal on the negotiating table, but Israel's Prime Minister Benjamin Netanyahu used delaying tactics in alliance with his ultra-nationalist coalition partners.
'Mini-cabinet' in UK
In the UK, per BBC sources, there have been a series of secret "mini-cabinet" meetings with the Prime Minister Sir Keir Starmer, the Chancellor Rachel Reeves, the Foreign Secretary David Lammy, and the Business Secretary Jonathan Reynolds, in anticipation of what's to come or "trying to plan for what might come". Although there hasn't been too much preparation as the source said, "you'd drive yourself crazy" trying to understand Trump's fickle steps. However another source informed that various papers have been prepared to be presented to the entire Cabinet. The uncertainty that Trump brings along with him is what the British political establishment finds shocking.
Russia-Ukraine war settlement
As the Russians keep moving forward, the Trump presidency will bring with itself pressure - for a deal, and that most probably will not be on Ukraine's terms. On the campaign trail itself, Trump had vowed to end the Russia-Ukraine war saying he would do it in "24 hours" after taking oath. However, General Keith Kellogg, his envoy to Ukraine and Russia now says that it can be hoped that the deal will be reached within the first 100 days of Trump's presidency. Moreover, Russian President Vladimir Putin, in televised remarks, while congratulating Trump said, "We are also open to dialogue with the new US administration on the Ukrainian conflict", he also added that the deal should ensure, "lasting peace based on respect for the legitimate interests of all people".
Trump's tariff threat to Canada amid turmoil
Canada is going through a period of political instability, fuelled by Trump's threat of 25% tariffs on Canadian goods by the US. Until recently, Prime Minister Justin Trudeau was determined to stay in office, eager to face off against his ideological opposite, Pierre Poilievre, in the polls. However, the sudden resignation of his key deputy, Chrystia Freeland, in mid-December, citing Trudeau's perceived failure to take Trump's threats seriously, marked the beginning of the end.
Freeland's resignation sparked a wave of dissent within Trudeau's own party, with many members publicly withdrawing their support for his leadership. This internal backlash ultimately led to Trudeau's resignation as Prime Minister earlier this month.
The change in leadership comes at a critical time for Canada, which is navigating a complex web of challenges, including the potential tariffs and ongoing diplomatic tensions with the US.
Potential US-China trade war
China's economy showed a rebound in the last quarter of 2024, barely meeting its 5% growth target, according to Beijing's latest announcement. However, this growth rate is one of the slowest in decades, reflecting the ongoing struggles of the world's second-largest economy with a prolonged property crisis, high local government debt, and youth unemployment.
Despite the challenges, the head of China's statistics bureau described the country's economic achievements in 2024 as "hard-won".
However, investors are cautious due to the looming threat of President-elect Donald Trump's tariffs on $500 billion worth of Chinese goods. This uncertainty, combined with existing economic challenges, may hinder China's ability to achieve its growth targets in the coming year.