Trump's America Inc is TikToking towards mercantilism

WHEN he was running for the presidency, then New York tycoon Donald Trump, in polishing his image as a deal-making business executive, marketed himself to voters as the future CEO of America Inc.

Candidate Trump blasted US companies that had closed their American operations and relocated them to low-wage economies. He pledged to personally save American jobs by punishing businesses that refused to reverse their policies. After entering the White House, he continued to strong-arm American companies, not to mention foreign corporations, that did not bend to his dictates. He pressed Boeing to reduce the price of a new Air Force One plane, and threatened to discipline media companies and Silicon Valley giants which he accused of promoting political campaigns against him.

It is true that contrary to the myth of America as a free market paradise that remains beyond Washington's control, all US presidents did not shy of intervening directly and trying to influence corporate decisions that impact on the US economy. But unlike his predecessors who tended to deal with business leaders behind the scenes, Mr Trump has launched personal attacks against corporate heads - such as Amazon's founder Jeff Bezos - while constantly tweeting about his latest fights with this or that company. Indeed, Mr Trump seems to assess the value of American and foreign businesses by how they advance his political agendas at home and abroad. Hence his embrace of a mercantilist strategy under which the United States is supposed to win trade wars and, in that context, give him the right to dictate corporate decisions.