It’s official: Donald Trump has returned to the White House. Whether you’re cheering or groaning, his stunning comeback is a moment few could have confidently predicted. Yet, here we are.

So how did this happen? And perhaps more importantly, what could his return mean for the global economy? Let’s explore the pieces of this puzzle.

A Return Built on Discontent

First things first: Many Americans feel left behind. Despite headlines about a strong economy under Biden, a significant swathe of the population – especially in the industrial heartlands – has a very different story to tell. Real wages have barely budged, manufacturing jobs have shifted overseas, and communities have struggled to hold on to the prosperity they once knew.

This is where Trump’s promises hit home.

Talk of bringing jobs back, rewriting trade deals, and “putting America first” resonated deeply with voters who feel like globalisation has done them no favours. As the Financial Times put it, this wasn’t just a political swing; it was a protest vote from people tired of feeling ignored.

A Masterclass in Communication

Love him or hate him, Trump knows how to grab attention. Social media, particularly platforms like X (formerly Twitter), played a huge role in his campaign. By speaking directly to his supporters – and let’s be honest, with more than a little controversy along the way – he bypassed traditional media and kept his base fired up.

His unfiltered style isn’t just noise; it’s a calculated way to stay relevant, even dominate the narrative.

What’s more, his rallies were theatrical spectacles. With everything from 80s glam rock to anthems like My Way, he created events that were part concert, part political rally. They weren’t just campaign stops; they were cultural moments. This connection – personal and powerful – mobilised his supporters in ways few candidates could dream of.

Weak Opponents and Cultural Tensions

Of course, Trump didn’t win just because of his strengths. The Democrats had their own issues. Kamala Harris struggled to inspire key demographics, from Latino voters to young people. And while Biden-era economic gains were real on paper, rising grocery prices and other cost-of-living issues alienated many Americans. The Democrats seemed out of touch with voters’ everyday realities.

Trump also played into cultural anxieties. For many Americans, issues like immigration and law enforcement aren’t just talking points – they’re deeply personal. By presenting himself as a defender of “traditional values,” he positioned himself as a bulwark against what some see as unwanted societal shifts.

And Then … The Unexpected

No political campaign is without its surprises, and this one was no exception. From last-minute news stories to even astrological musings – yes, some commentators genuinely pointed to cosmic alignments – unexpected twists shaped the final weeks. It’s a reminder that in politics, timing can be everything.

What’s Next for the Global Economy?

Trump’s return doesn’t just matter for the U.S.; it’s set to shake up the global economy in big ways. Here’s what’s likely on the horizon:

• Trade Tensions and Tariffs

Trump’s “America First” mantra could spell trouble for international trade. Remember his previous tariffs on China? He’s hinted at going even further this time. This isn’t great news for global markets. Strained trade relations could disrupt supply chains, raise prices, and make it harder for businesses to operate across borders.

• Domestic Deregulation and Tax Cuts

Expect tax cuts and fewer regulations in industries like energy and finance. While this might spur short-term growth in the U.S., it could also lead to inflation and ballooning deficits. If U.S. borrowing costs climb, global markets won’t be immune.

• International Relations: A Rocky Road

Trump’s foreign policy often felt transactional, and many allies – think NATO countries – braced themselves for tougher demands. We’re likely to see more of this. A “pay your way” approach could create friction, leaving international alliances a bit shaky.

• Winners and Losers

On one hand, Trump’s policies could boost U.S. stock markets, particularly in industries like fossil fuels and defence. On the other hand, economies heavily reliant on exports to the U.S. – like China or Mexico – might face serious challenges.

What Does It All Mean?

Trump’s comeback reflects something bigger than one man or one election. It’s a signal that many people feel left out of global progress and want something – or someone – who promises to fight for them. Economically, we’re looking at a period of uncertainty. From trade wars to shifting alliances, Trump’s policies are bound to ripple through global markets.

What’s clear is that we’re entering a new chapter. Whether you see it as an opportunity, a challenge, or a bit of both, Trump’s return to the presidency is set to leave its mark – on America and the world.