Trump's economic program. The impact it can have in Albania
By Kreshnik Kucaj, DATAROOM, SCAN
Donald Trump has returned to the White House setting several records for the American elections. The 47th president of the USA was born in 1946 and has a degree in economics. In addition to his career in business, he is also known for his television career, where he was the producer and host of one of the most famous reality shows in the world, "The Apprentice".
But what are Trump's main promises?
One of the most delicate points of the program is the US economic relationship with China. Trump has declared that he will impose very high tariffs on Chinese goods. In fact, China is the main exporter of technological equipment such as phones or computers etc. to the USA. It is also an important supplier of machinery, spare parts and other equipment. Many American and international companies operate in China because of lower costs.
But what could be the impact that such a policy could produce on Chinese goods?
The risk of a China-US trade war is not ruled out. But if this happens, one of the options that economic analysts and policy makers foresee is the possibility of shifting production from China to other countries. Many international companies, to avoid this tension, can be oriented towards other countries, which also have low costs. This could be a move to avoid charges. And in this case, countries like Vietnam, Bangladesh, India, but also the countries of the Balkans where Albania is a part, can benefit.
But could the imposition of these tariffs cause a shock to international trade?
There are two options. The first option is for companies that face such tariffs to lower their prices for European countries and other markets in order to circulate goods that they may not be able to sell in the American market due to the price burden created by the tariffs. . While the second option is for prices to increase as a result of the invoicing of the product, the increased tariff from the US. In both cases, the most affected products are technological and construction, as China is a major global exporter of steel.
ALBANIA, IN TRUMP'S AMERICA
Currently in Albania, according to CENS2023, there are 1,367 people who have American citizenship. Apart from Tirana, which holds the first place, Korça is in second place, followed by Vlora and Shkodra.
On the other hand, there are many Albanians living in the United States of America. According to "Diaspora in Figures", the number of Albanians in the USA varies from 200-250 thousand and 90% of them are immigrants after the 90s.
Meanwhile, from year to year, the number of American or related companies has been increasing. Currently, the number has reached 214.
The increase in the number of foreign tourists in Albania in recent years has also been reflected in the increase in American tourists.
In addition to human exchanges, Albania and the United States of America have significantly increased the level of exchanges. In recent years, the USA has become an important destination for Albanian exported goods, ranking at the top of the list. Albanian medicinal plants have an important market in the USA.
Meanwhile, the weight of American investments has also been increasing.
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