{"id":1296,"date":"2026-07-14T10:41:32","date_gmt":"2026-07-14T10:41:32","guid":{"rendered":"https:\/\/commercialrelocationpros.com\/?p=1296"},"modified":"2026-07-14T10:41:32","modified_gmt":"2026-07-14T10:41:32","slug":"trumps-anti-growth-agenda","status":"publish","type":"post","link":"https:\/\/commercialrelocationpros.com\/?p=1296","title":{"rendered":"Trump\u2019s Anti-Growth Agenda"},"content":{"rendered":"
\n

In June 1897<\/span>, Great Britain, at the apex of empire, organized an elaborate pageant celebrating Queen Victoria\u2019s 60 years on the throne. The industrial revolution had turned a small island nation into an economic and military superpower. The writer Rudyard Kipling, one of imperialism\u2019s greatest apologists, was asked to contribute an ode for the queen\u2019s Diamond Jubilee. Yet far from boasting about the empire that Kipling adored, the poem he wrote imagined its eventual end. \u201cFar-called, our navies melt away; \/ On dune and headland sinks the fire,\u201d he wrote. \u201cLo, all our pomp of yesterday \/ Is one with Nineveh and Tyre!\u201d<\/p>\n

Read more Todd Blanche\u2019s War Against Journalism<\/a><\/p>\n

Much less humility was on display as the United States celebrated its 250th anniversary. \u201cWe will always be on top,\u201d Donald Trump said in his July 4 speech. \u201cWe will never let our country fall.\u201d Yet even as he insisted that U.S. global dominance will last forever, Trump is busily dismantling the very economic underpinnings that would ensure future American might.<\/p>\n

When economies lag, hegemony becomes unsustainable. Britain\u2019s decline took only a few short decades. The Soviet Union rivaled America militarily but could not keep up economically, and unraveled as a result of its inability to grow. Americans today enjoy material abundance scarcely imaginable in Kipling\u2019s day. That is the reaped reward of scientific prowess, high-skilled immigration, the rule of law, free trade, and stable monetary policy\u2014all of which Trump is jeopardizing in his current term.<\/p>\n

In the postindustrial<\/span> world, ideas are the ultimate engine of growth. \u201cProductivity isn\u2019t everything, but, in the long run, it is almost everything,\u201d the economist Paul Krugman once remarked. Much of America\u2019s outperformance of Europe in the past two decades can be explained by greater efficiency in creating goods and services. The United States is still the best place in the world to be rewarded for inventions and other advancements. Yet the pace of future discoveries could soon decelerate. Out of distaste for elite universities and the study of disfavored subjects, the Trump administration suspended and canceled nearly 8,000 scientific grants in 2025, according to calculations by the journal Nature<\/em>. The National Science Foundation and National Institutes of Health are issuing roughly 25 percent fewer grants than before Trump returned to office. Federal scientific agencies have seen their workforces slashed. If the president had his way with the federal budget, non-defense research funding would be cut by 35 percent.<\/p>\n

One reason for America\u2019s technological ascendance has been its capacity to siphon brainpower from the rest of the world. From 1901 to 2024, 410 Americans have won the Nobel Prize in chemistry, medicine, economics, and physics. Of those, 35 percent were immigrants. Today, America\u2019s lead in AI depends on imported talent: 59 percent of the world\u2019s top AI researchers work in the U.S., and more than 65 percent of them are foreign-born. Even seven out of 10 Chinese-educated AI researchers work in America today. A recent analysis found that 59 percent of America\u2019s \u201cunicorns\u201d\u2014private start-ups worth more than $1 billion\u2014have at least one immigrant founder or co-founder.<\/p>\n

This immigration-innovation linkage ought to be easily detectable even from the Oval Office: The president\u2019s biggest campaign booster in 2024, Elon Musk, himself immigrated from South Africa. So did David Sacks, the president\u2019s AI and crypto czar until recently. Yet the Trump administration\u2019s hostility toward immigration is not limited to undocumented or low-skilled entrants. The president has attempted to add a $100,000 fee to applicants seeking H-1B visas, intended for skilled workers in health care and technology. The administration is also close to finalizing four-year limits on student visas\u2014which would make most Ph.D. programs difficult to complete for international students.<\/p>\n

In their book Why Nations Fail<\/em>, the Nobel Prize\u2013winning economists Daron Acemoglu and James A. Robinson argued that dependable, pluralistic institutions are essential for long-run growth. Perhaps the paramount proof for their case was the United States, a country that both respected property rights and allowed dominant companies to be replaced by competitors. These norms and institutions are buckling under the pressure. The president treats the law as a tool to punish enemies and reward friends.<\/p>\n

The private sector understands that favors can be gained\u2014and antitrust enforcement and other painful federal interventions warded off\u2014by demonstrating sufficient deference. So business titans are tiptoeing around the president\u2019s sensibilities, offering gaudy tributes (such as a gilded desk clock from Rolex), and donating copiously to his pet projects such as the White House ballroom. Under Trump, the federal government is gradually becoming more dirigiste, directly involving itself in the operation of businesses: seizing effective control of U.S. Steel, becoming the largest shareholder of Intel, asking for revenue from Nvidia\u2019s chip sales to China. Far from avoiding conflicts of interest and the appearance of impropriety, the president is aggressively monetizing the office\u2014earning $2 billion last year, largely from cryptocurrency sales. The president wields his pardon opportunity to reward his supporters, even those convicted of corruption in elected office and serious fraud. Such capricious governance has not immediately made America less hospitable for investment. However, the risk is not of imminent economic recession, but a steady erosion that becomes apparent only years from now.<\/p>\n

Just as British might was once underwritten by the ascendancy of the pound, America benefits from the dollar\u2019s status as the default currency of global commerce. The dollar\u2019s place in international finance is sustained only in trust: in the strength of American institutions, in the full faith and credit of the Treasury, and in the stability of the global financial system. Trumpism is an attack on all three pillars. Trump has tried to undermine the independence of the Federal Reserve, which manages America\u2019s monetary policy, more than any predecessor before him\u2014pointing a weaponized justice system at its officials who do not bend to his will. Because of his tax cuts, the American debt has continued to grow at an extraordinary rate. Trump\u2019s unilateral imposition of sweeping tariffs on the rest of the world\u2014and the abusive way he speaks of allies\u2014weaken trust in both Pax Americana and the dominance of the dollar.<\/p>\n

Trump has committed his administration to an idiosyncratic vision of American greatness. It is a greatness so internally brittle that it requires extraordinary governmental pressure against institutions and people who disagree with the administration\u2019s aims. Yet it is also so self-assured that America can safely jettison the postwar international order it built, in trade and military alliances, without risk to American supremacy.<\/p>\n

Read more How Lindsey Graham Persuaded Trump to Attack Iran<\/a><\/p>\n

Defenders of the<\/span> president often point to the performance of the stock markets\u2014which have reached all-time highs thanks to the market\u2019s exuberance for artificial intelligence. But surges in share prices can be transitory\u2014you never know whether you\u2019re in a bubble until you\u2019re out of it. Defenders of Trump\u2019s economic policies argue, more substantively, that they are part of a larger plan to forestall the rise of China. After Silicon Valley made its peace with MAGA, the administration has pledged to put few guardrails on America\u2019s frontier tech companies as they try to outrace their Chinese counterparts.<\/p>\n

Thanks to the One Big Beautiful Bill Act, the president\u2019s signature legislation this term, tech companies, and American corporations generally, have been given permanent reductions in their tax rates and allowances that promote research. Trump, as his defenders tell it, has canceled the expensive clean-energy projects of his predecessor Joe Biden, while supporting fossil-fuel electricity generation that will power the data centers needed here and now. In the AI race between America and China, the country with the most computing power installed may win. Tariffs and direct intercessions into the operations of businesses could be justified on untangling supply chains from dependency on America\u2019s greatest rival. If AI really is the wellspring of future productivity growth, then accelerating it could ultimately be the most consequential decision that Trump makes.<\/p>\n

This argument\u2014a monomaniacal fixation on preventing America from being overtaken by China as Britain was overtaken by America\u2014is worth taking seriously. But it is undercut by Trump\u2019s other actions. Today\u2019s advantages in artificial intelligence will be hard to maintain unless the United States keeps attracting the field\u2019s best minds\u2014especially given the declining literacy and numeracy of American students. Building supply chains that exclude China would be easier if allies were not also charged high tariffs. Disregarding the eventual harms of climate change does not just affect future Americans; it also cedes the field of clean-energy technology to China.<\/p>\n

In the short term, the One Big Beautiful Bill Act will likely boost growth. But it will also add trillions to American debt, worsening the eventual political crisis that will come within the next decade when the Social Security trust fund runs dry. The bill\u2019s cuts to Medicaid, alongside the cancellation of Affordable Care Act subsidies, are expected to cause millions of Americans to lose health insurance. These problems will be harder to sort in the next decade\u2014when Americans are older, payments on the national debt are higher, and the government\u2019s budgetary flexibility is correspondingly constrained.<\/p>\n

A world order led by China\u2019s authoritarian rulers will still be less attractive than the American-led one that Trump is creating. But the more mercurial the United States acts\u2014the more markets are balkanized, private wealth is contingent on political favor\u2014the less advantage the rest of the world will see in choosing Washington over Beijing.<\/p>\n

A more measured<\/span> defense of Trumponomics is to note that it may last only two more years. Courts have also blocked some of the president\u2019s most aggressive actions\u2014such as his attempts to remove a Fed governor and impose blanket tariffs under emergency authority, and his retaliation against law firms that challenge him. Only his tax law is congressionally sanctioned and therefore difficult to repeal. The rest\u2014the attacks on the Fed, the limitations on immigration, even the tariffs\u2014all rest only on executive authority and could be immediately rescinded when Trump leaves office. Even so, four years of such policies will still take a serious toll, both on quantifiable measures such as health-care costs and scientific capacity and unquantifiable ones such as the trust that allies place in America\u2019s security guarantees. Furthermore, Trumpism may linger as the dominant ideology in the GOP even after Trump leaves office. The irony is that policies intended to \u201cmake America great again\u201d would instead push it toward Britain\u2019s fate.<\/p>\n

For Britain, decline set in slowly. Despite inventing the technologies that permanently altered the world, it eventually fell behind America and Germany in technical prowess and output. This slippage could be obscured for as long as Britain retained its empire and London remained the epicenter of the global financial system. But the productivity gap would ultimately result in Britain\u2019s dethroning. After World War II, the country was saddled with debt, dispossessed of its colonies, and forced to watch the pound\u2019s privileges pass on to the dollar. Then came humiliations\u2014the Suez crisis of 1956, the bailout required from the International Monetary Fund in 1976. What started as a modest loss of economic advantage would ultimately cost Britain everything.<\/p>\n

Reflecting on what turned out to be his country\u2019s apogee, Kipling wrote a memento mori, presciently reminding his compatriots that power is inevitably transient. Trump entertains no such thought. \u201cWe will always be the best,\u201d he said in his July 4 speech. Perhaps this really is, as the president claimed, \u201cthe dawn of the golden age of America.\u201d Or maybe the United States is eroding its supremacy right now\u2014all of its own accord.<\/p>\n

Read more Winners of the International Aerial Photographer of the Year<\/a><\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

When a superpower\u2019s economy lags, hegemony becomes unsustainable.<\/p>\n","protected":false},"author":1,"featured_media":1295,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ideas"],"yoast_head":"\nTrump\u2019s Anti-Growth Agenda - Commercial Relocation Pros<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/commercialrelocationpros.com\/?p=1296\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s Anti-Growth Agenda - Commercial Relocation Pros\" \/>\n<meta property=\"og:description\" content=\"When a superpower\u2019s economy lags, hegemony becomes unsustainable.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/commercialrelocationpros.com\/?p=1296\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Relocation Pros\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-14T10:41:32+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/commercialrelocationpros.com\\\/#\\\/schema\\\/person\\\/3a3374a445f1b5d4852b1d7c15b9fe3a\"},\"headline\":\"Trump\u2019s Anti-Growth Agenda\",\"datePublished\":\"2026-07-14T10:41:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296\"},\"wordCount\":1970,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/commercialrelocationpros.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/b7fb1a5ecb859d1be107f8c6d1574199.avif\",\"articleSection\":[\"Ideas\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296\",\"url\":\"https:\\\/\\\/commercialrelocationpros.com\\\/?p=1296\",\"name\":\"Trump\u2019s Anti-Growth Agenda - 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