What can Make America Great (again): Greed or Leadership?

Will America's future greatness be defined by greed or leadership

Introduction

What on earth is happening? Given how interconnected our world is, the tariffs imposed by President Trump, really begs the question, “Should greed influence a country's decision-making policies?” 

While one can understand that the tariffs were intended to support American manufacturing and address trade imbalances, a key part of the "Make America Great Again" promise, what they might actually end up doing is making no one great … again.

Let me see if I can understand the complexities of global trade, the actual impact of these tariffs, and whether pursuing financial gains is worth the potential harm by asking some simple questions.

Was America Ever Not Great?

The slogan "Make America Great Again" implies that the U.S. had fallen from some previous height. This was, from the beginning, Trump’s clarion call to his base. Even in 2016, when he was first elected.

The second time around, in 2024, the U.S. is still the world's largest economy, with a GDP of $29.02 trillion in 2024. It's a leader in technology, finance, and, of course, military hardware. The U.S. dollar is still the world's reserve currency. However, there were issues of wealth inequality and job losses resulting from automation, which were challenges that the new administration was keen to address. But none of these issues make a country more or less great … or do they?

The Hypocrisy of Being Anti-Globalisation

It's interesting to hear some Americans criticise globalisation, given how much their country has benefitted from it. Around the world, names like Apple, Amazon, Walmart, and Nike are known only because they have used global supply chains and outsourced production to countries with cheaper labour. They have boosted their profits and created wealth for many Americans. So, what are they really criticising?

The Problem with "Bringing Jobs Back"

The idea of bringing manufacturing jobs back to the United States sounds appealing, but is that realistic? We cannot avoid automation, which is a significant threat to jobs. A Brookings study suggested that 25% of U.S. jobs are at high risk of being replaced by technology.

(https://www.brookings.edu/wp-content/uploads/2019/01/es_2019.01_brookingsmetro_automation-Ai_report_muro-Maxim-Whiton-Final.pdf). Even if manufacturing returns, many of those jobs are likely to be performed by robots. So, what are the jobs that will be ‘coming’ back?

The Confusion about Consumer Benefits

These tariffs have increased costs for consumers. While estimates vary, it is suggested that as of April 7, 2025, there has been a huge impact on the consumer. The Tax Foundation approximates that tariffs could cost the average U.S. household $1,900 per year. The Budget Lab at Yale estimates the average annual cost at $3,800 per household, with lower-income households incurring costs of around $1,700 and middle-income households approximately $3,000. The Peterson Institute for International Economics (PIIE) estimates a cost of over $1,200 per year for the typical household based on tariffs announced by early February 2025, but this could rise to over $2,600 if broader proposals are implemented. Some estimates, such as those from the Center for American Progress, based on White House projections, suggest that costs could be as high as $5,200 per household per year. These numbers are regularly being quoted in the media and may be confusing, but the question remains: is the consumer really benefitting?  

Trade Wars

Wars of any colour never end up well for one or another or both parties. In the trade war between the US and China, the U.S. trade deficit with China hit $295.4 billion in 2024. Manufacturing is a slow job growth industry. Countries like China, Russia, and India are starting to trade in their own currencies, reducing their reliance on the U.S. dollar and potentially weakening America’s economic power base. These trade wars have also exacerbated supply chain issues, which are already struggling due to the pandemic. All this leads to higher costs for businesses and consumers. So, is the trade war worth it?

Perusing wealth through relationships

Let’s be honest: the pursuit of wealth through tariffs primarily benefits a small group of individuals while everyone else bears the cost. For example, tariffs on Chinese goods have raised prices on items such as electronics and clothing, hurting low-income families the most. We’ve already had the ‘soybean wars’, which will once again impact farmers in the US trying to export their produce. Countries unable to ‘re-negotiate’ as Trump wants them to do, will seek relationships with other regions and countries and try to avoid America altogether.  Someone will benefit, and it may not be the United States. So, is greed everything in building relationships?

Greed Isn’t Everything—Leadership Is

There is no doubting that the U.S. is a powerful nation, both economically and strategically. It is a country that has the highest percentage of foreign students and there are many in the world who still aspire to the “American Dream”. But what is happening now through these tariffs (not to mention the internal policies of deportations, budget cuts, slashing of DEI programmes, targeting individuals) does nothing for its image or reputation. America is coming across as a greedy bully-boy, aggressive and abrasive. It seems to want to assert its global influence by sledgehammer rather than soft power, politically as well as economically.

This isn’t making America great again. It is showing the world that it has side-lined innovation, fair trade, and shared prosperity, let alone the democratic ideals of “liberty, equality and fraternity”. The current path, driven by tariffs, risks damaging global cooperation and long-term growth. By investing in its people, leading in clean energy, and addressing inequality, the U.S. can redefine its greatness in a way that is sustainable and benefits everyone. If you ask me, making America great is understanding that greed isn’t everything. Leadership is.

#GlobalTrade #EconomicImpact #TradeWars #USChinaRelations #LeadershipMatters #Tariffs #GlobalEconomy #AmericanEconomy #InnovationOverIsolation #EconomicPolicy #GlobalizationDebate #ManufacturingJobs #ConsumerCosts #AmericanDream #EconomicLeadership #AjmalSamuel