For him, the Americans have come to grips with a world that belongs to the past. “In reality, the slogan ‘Make America great again’ is to restore its prestige. The present is a source of dissatisfaction for the voter and the future is frightening. Therefore, there is only one solution: that is to look into the past and think that the past was glorious.”
Serial dismissals, death penalty, existence of “two sexes”… Trump takes direct action, here are his first decisions
This co-founder, economist at Orcadia Asset Management and former advisor to political figures, also dissected one of the strong measures against Europeans with an increase in customs fees. “For me, this is not an error in political strategy since this theme was decisive in the campaign. On the other hand, we are in the domain of intellectual dishonesty. The error is above all economic. The first victim will be the American consumer for whom it will be more expensive to put toys under the Christmas tree at the end of 2025.
The economist does not believe in this measure in the long term. “I think he will quickly realize this and change his mind. Donald Trump is an opportunist. He will use the tariff weapon in a discriminatory manner. In reality, he’s going to say to businesses: ‘be nice to me or I’ll impose tariffs on you.’ These will therefore not be generalized prices, but personalized.”
Trump, a political lesson for Europe?
How should Europe position itself vis-à-vis the United States?
Currently, countries are positioning themselves differently in relation to elections. Some are afraid of it, others absolutely want to collaborate. For Etienne De Callataÿ, dialogue will be essential with our US allies. Even if Europe will have to assert its interests. “Particularly on the tech giants”he clutches. “It would be inconceivable that we would abandon our demands for privacy, competition or educational practices. Above all, we must not give in to the big industrialists who would be supported by Trump.”
-On the other hand, we will have to give ground on other subjects. “Like defense budgets for example. We must accept that today we have to increase the budget. We have benefited from the American umbrella for too long without paying for it. It’s better to spend a little more, both for your safety and for your autonomy.”
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A model that is becoming widespread throughout the world? “A Belgian example can reassure”
Etienne De Callataÿ is not the only one. But he is particularly worried about the rise of extremes. “What is happening in the world is not unique to Mr. Trump. From Argentina to other European countries, we see that this way of approaching things has a certain resonance on the electoral level.”
Which means that we will have to get used to seeing this type of personality in power. “I think that, unfortunately, today the temperate view is not always rewarded.”
An eternal optimist, the economist nevertheless believes that there are bright spots in the gray. And particularly in Belgium. “The elections last June were rather bad for parties that would have been extremist or very radical. And we saw a relatively centrist party, “Les Engagés”, author of a temperate speech, do much better than expected. So we must not despair of the electorate. But it is clear that a good part of this electorate is looking for a message of profound change.”
