Wellington Management
February 03, 2025
Tracing our history to 1928, Wellington Management is one of the largest independent investment management firms in the world. We serve as a trusted adviser for institutions in more than 60 countries.

What an “America first” foreign policy may mean for markets

In my  last piece , I discussed how President Trump’s domestic economic plans might affect growth, inflation, and markets. It is also worth discussing what an “America first” foreign policy might mean for the next four years, given that he has spent much more time talking about geopolitics since November than following his election in 2016, when he focused mostly on the US economy.

Three pillars of Trump’s “America first” foreign policy

There appear to be three main components of Mr. Trump’s foreign policy plans: a return to regional hegemony, global economic dominance, and tariffs designed to affect geopolitical outcomes. I’ll tackle these issues separately and discuss their various market implications.

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