When Donald Trump takes office in January, the United States could enter a “phase of discovery,” Chris Hayes said Wednesday night after being fooled and re-elected in the first place.
Although the 2025 inauguration is just weeks away, international leaders who are “paying attention are preparing for a series of economic policies from the new Trump administration that could prove costly to both the American people and the global economy,” he said. Hayes. . “And what makes it so surprising to all of us is that they are exactly what Trump said.”
And while Trump “fantasized” about his affiliation and was aware of some of the campaign’s talking points (such as Project 2025), “he was clear and consistent about the central ideas of the economy.” Those ideas include mass deportations that “would have brutal human and economic costs” and the imposition of tariffs “to start the kind of trade war we may not have seen in a century.”
Trump has been so outspoken about the plans that, before the election, 23 Nobel laureates “criticized that economic plan as a disastrous recipe for rising prices, slow economic growth, even a recession or worse.”
“And now, we’re back to a situation where bankers and analysts and CEOs and everyday Americans are watching and hoping that the Trump White House doesn’t do exactly what they said they would do,” Hayes said.
The UK is going through a similar cycle of stupidity, as was discovered after Prime Minister Boris Johnson resigned and was replaced by Liz Truss, who resigned in disgrace after just 50 days in office.
Like Trump, Truss promised “massive tax cuts for corporations, bankers, bonuses and the incomes of the rich,” Hayes said. “And the idea was that those rich creatives would stimulate economic growth and, meanwhile, to make up for the huge amount of revenue lost from the tax cuts, the Conservative government would borrow heavily just to cover their spending.”
Truss’ plan, despite support from “Trump’s former deputy director of the National Economic Council,” did not actually materialize. Within weeks of implementing his plan, Britain was in an economic crisis.
The result was that “the Trust only needed a month and a half to do what it had planned with the UK budget,” Hayes continued. “It sank the British economy. “It made him the shortest prime minister in history.” His political party has become “absolutely radioactive,” which is what Republicans want to focus on, especially after Trump named Jamieson Greer as his candidate for US Trade Representative.
Greer will likely be tasked with implementing Trump’s vision on tariffs, especially since he is a veteran of the Trump White House, which previously imposed tariffs on $370 billion in Chinese imports. “Those tariffs, as we reported on the show, contributed to the trade war,” Hayes said.
“They almost broke the backs of American farmers who lost access to the main Asian market. Like the Conservatives and Truss in London two years ago, Donald Trump told us what he was going to do and, like them, critics said, if you do that, it’s disappearing. “I think we’re just waiting to get into the discovery phase of the story.”
You can see a clip of “All In With Chris Hayes” in the video above.
