The impact is already huge and Trump is reorganizing the dynamics of market systems. Across all core indicators, the economic architectures of many nations are going to be radically changed. As he fights with tariffs and brash bravado which no leader in Europe, Africa and Latin America can match, he reminds company boards to look into and how their firms will play.
I was stunned that the USAID was paying salaries of 28,000 healthcare workers in Nigeria: “The Nigerian government has announced plans to retain 28,000 health workers whose salaries were previously covered by the United States Agency for International Development (USAID), whose activities have been halted by US President Donald Trump.” But for years, no one has ever disclosed that denying the American people the goodwill for that support at scale. More so, I expect many healthtech startups across Africa to struggle as the direct and indirect sources of most of their funding vectors have been cut-off.
But let us see how Trump play is affecting the American citizens, and we can extrapolate from the favourite shopping apps of the last few quarters: ‘U.S. sales for Shein and Temu have plummeted since the Trump administration announced harsher trade policies aimed at China — even after it reversed course and left a duty exemption on inexpensive packages in place. An analysis of debit and credit card data shows that Shein’s U.S. sales fell as much as 41% from Feb. 5-10, while Temu’s dropped 32%. It suggests the new geopolitical climate is having “a chilling effect on American consumers.’
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Yet, this government has not even spent 30 days which means everyone must take time to evaluate how all these changes will affect national economies and corporate bottom lines. For example, I expect the price of crude oil to fall by June as the US normalizes relations with Russia, and thereby making it possible for Russia to join the mainstream oil trading platforms. Nigeria must model how that will affect us because cheaper oil will further reduce US inflation and Trump wants interest rates down; Russia will gladly help there for the favours.
Are you paying attention to Trump’s reset and updating your business playbook?
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We always wait for problems to meet us, before we start thinking what to do. Like it’s said, hope is not a strategy. Any future you are desirous of, you must create it yourself. Trump is helping people of the world to rediscover themselves, but some are angry. But again, it’s a complete waste of time being angry with someone you stand no chance of taking a revenge on. Create your own future or you have an unfavourable one handed to you.