President-elect Donald Trump, who has placed “America First” at the forefront of his political agenda, is set to be inaugurated as the 47th President of the United States on January 20th. Despite continuing to deny his defeat in the 2020 presidential election and the significant legal risks stemming from the January 6, 2021, Capitol riots, Trump has managed to reclaim power in a historic “tightrope walk” after four years. This marks the beginning of Trump 2.0, a new chapter in American leadership that promises to reshape global security and the international trade order. His administration, which centres on American interests and draws little distinction between allies and adversaries, is expected to bring transformative changes to the world stage, particularly in regions like the Korean Peninsula.
The second Trump administration is already showing signs of an even more aggressive approach than his first term, as evidenced by his territorial expansion policies and the emergence of the so-called ‘Donro doctrine’—a mix of Trump’s ideas and the Monroe Doctrine. This signifies a shift toward a more assertive “Make America Great Again” (MAGA) vision, which has set the world on high alert. With strategic challenges from countries like China, Russia, North Korea, and Iran, which are increasingly cooperating to undermine the U.S.-led world order, Trump’s return to the White House is expected to hasten changes in the post-war international order, previously structured around democratic values and free trade.
Trump’s inauguration will take place at the Rotunda of the U.S. Capitol in Washington, D.C., on the afternoon of January 20th. He will take the oath of office before Chief Justice John Roberts, deliver his inaugural address, and outline his vision for the next four years. His term officially begins at noon, as mandated by the U.S. Constitution. After the ceremony, Trump is expected to head to the White House, where he will attend a congressional luncheon and review military operations. Known for his bold promises during the campaign, Trump is expected to take immediate action on issues such as the economy, trade, immigration, energy, and foreign policy through around 100 executive orders. One of the most closely watched aspects will be whether he follows through on his pledge to impose high tariffs on Canada, Mexico, and China, which he promised during his election campaign in response to issues like illegal immigration and drug inflow.
Trump has already signalled his intention to impose additional tariffs on these nations—25% on Mexico and Canada, and 10% on China—on the day of his inauguration. These tariffs are intended to pressure foreign manufacturers to move production to the U.S. by making it financially unappealing to produce goods overseas. If Trump moves forward with this plan, it could spark a global trade war, with retaliatory measures already being prepared by Canada and Mexico. The World Bank has warned that such tariffs could significantly reduce global economic growth. As international tensions rise, Trump’s stance on global conflicts such as the war in Ukraine will also be of significant interest. While he has pledged to end the conflict, he has acknowledged that it is a complex issue. Trump’s potential meeting with Russian President Vladimir Putin could be pivotal in determining the direction of the war, and the outcome of any negotiations could reshape security alliances in both Europe and the Indo-Pacific region.
In addition to foreign policy challenges, Trump is expected to focus on domestic issues. He has vowed to address North Korea’s nuclear ambitions and emphasized his personal relationship with North Korean leader Kim Jong-un. On the domestic front, Trump is anticipated to press South Korea to increase its defence cost-sharing, a position he has held since his first term. He has also indicated plans to push for the return of the Panama Canal, as well as incorporate Greenland and Canada into the U.S., using both military force and economic leverage if necessary.
Economically, Trump plans to roll back certain policies, such as the “electric vehicle mandate,” and may take a hardline stance on investments in sectors like semiconductors, challenging the status quo under the Biden administration. His plans to address issues like illegal immigration, with large-scale deportations and changes to birthright citizenship, could have significant social and economic implications. The second Trump administration will likely be characterized by a cabinet composed entirely of his loyalists, and with the Republican Party controlling both the Senate and House of Representatives, Trump will have significant leverage to push his policies. However, the lack of a firm majority in Congress and internal GOP disagreements over spending could complicate the execution of his agenda.
Despite his control over the executive branch, the inflationary impact of his trade policies and the challenges of balancing American power abroad without direct intervention are potential stumbling blocks. The Stimson Centre, a think tank, has raised concerns that Trump’s second term could create confusion and global risks due to contradictory goals, making the international landscape even more complex and dangerous than during his first term. As President-elect Trump takes office, the world will be watching closely as his policies unfold and reshape both domestic and international dynamics.