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, anticipation of his second term has had far-reaching consequences from Kiev to Ottawa to London, according to a BBC report.
Gaza ceasefire agreement
The effects of the ceasefire agreement in Gaza are being seen in the Middle East even before Trump begins his tenure in the Oval Office. Trump rightfully basked in the glory of securing a ceasefire agreement in Gaza because President Biden did not put enough pressure on Israel. In May 2023, Biden had put the ceasefire agreement on the negotiating table, but Israel’s Prime Minister Benjamin Netanyahu used delaying tactics to ally with his ultra-nationalist coalition partners.
‘Mini Cabinet’ in Britain
Britain has held a series of secret “mini-cabinet” meetings with Prime Minister Sir Keir Starmer, Chancellor Rachel Reeves, Foreign Secretary David Lammy and Business Secretary Jonathan Reynolds, according to BBC sources. What’s to come or “trying to plan for what’s to come”. Although there hasn’t been much preparation, as the source said, “you’ll drive yourself crazy” trying to understand Trump’s erratic moves. However another source said that various papers have been prepared to be presented before the entire Cabinet. The uncertainty that Trump has brought with him seems to be shocking to the British political establishment.
Russia-Ukraine war agreement
As the Russians continue to escalate, the Trump presidency will bring with it pressure for a deal, and it likely will not be on Ukraine’s terms. While on the campaign trail, Trump vowed to end the Russia–Ukraine war, saying he would do so within “24 hours” after being sworn in. However, now his envoy to Ukraine and Russia, General Keith Kellogg, says there is hope that a deal will be reached within the first 100 days of Trump’s presidency. Additionally, Russian President Vladimir Putin congratulated Trump on television, saying, “We are ready for dialogue with the new US administration on the Ukrainian conflict”, also saying that the agreement would lead to “lasting peace based on respect”. Must ensure. The legitimate interests of all people”.
Trump’s tariff threat to Canada amid turmoil
Canada is undergoing political instability, fueled by Trump’s threat to impose 25% tariffs on Canadian goods. Until recently, Prime Minister Justin Trudeau was determined to remain in office, and was eager to face off against his ideological opposite Pierre Poilievre in the election. However, the sudden resignation of his chief 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 discontent within Trudeau’s own party, with several members publicly withdrawing their support for his leadership. This internal conflict ultimately led Trudeau to resign as prime minister earlier this month.
The change in leadership comes at a critical time for Canada, which is grappling with a complex web of challenges, including potential tariffs and ongoing diplomatic tensions with the US.
Possible US-China trade war
According to Beijing’s latest announcement, China’s economy showed a rebound in the last quarter of 2024 and barely met its 5% growth target. However, this growth rate is the slowest in decades, reflecting the world’s second-largest economy’s ongoing struggle with a chronic wealth crisis, high local government debt and youth unemployment.
Despite the challenges, the head of China’s Bureau of Statistics described the country’s economic achievements in 2024 as “hard-won.”
However, investors remain cautious due to the looming threat of President-elect Donald Trump’s tariffs on $500 billion of Chinese goods. This uncertainty, combined with ongoing economic challenges, could hinder China’s ability to achieve its growth goals in the coming year.
