International Trade After Trump: 4 Business Issues Explained By Economist

Forbes Business

by Bill Conerly, Senior Contributor

February 26, 2026

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International trade is entering a new era following the Trump presidency, marked by increased tariffs, transactional deals, and shifting political dynamics. According to economist Greg Ip, this new landscape will be more orderly but less chaotic than before. Business leaders must adapt their strategies to navigate these changes, as free trade principles that once dominated U.S. policy are being replaced by a focus on protectionism and local interests. The first key shift is the rise in trade restrictions. Unlike previous decades, when global trade liberalization was the norm, today’s environment sees more tariffs and barriers than at any point since Trump took office. This reversal reflects a growing political shift toward protectionism, with major parties using tariffs to support key constituencies. The Republican Party has moved away from free-market principles, embracing tariffs to aid blue-collar workers, while Democrats have long opposed imports that threaten union jobs. A second critical change is the increasing importance of local policies in shaping international trade. Political leaders worldwide are now more willing to impose tariffs and restrictions when it suits their domestic agendas, a trend accelerated by Trump’s aggressive use of trade wars. Corporate buyers must now consider specific product-level impacts of these policies, relying on trade associations and lobbyists for guidance. This means global sales will depend heavily on individual countries’ regulations, requiring businesses to gather more detailed, localized intelligence. Finally, the distinction between commodities and custom products becomes crucial. Commodities are subject to more predictable tariffs and quotas, while custom goods face additional challenges due to longer lead times and supply chain complexities. As a result, businesses must adopt a nuanced approach to sourcing and production, potentially diversifying suppliers or investing in domestic manufacturing to mitigate risks. Overall, the post-Trump trade landscape demands careful planning and strategic adjustments for businesses. While some aspects of global trade

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Originally published on Forbes Business on 2/26/2026