The world economy would take a new, rough turn under Trump governance.

He has many of the same economic ideas as when he was first in office. However, they are more sophisticated this time, and he is more determined to see them through because of his greater experience.

In addition to higher tariffs of 60% on Chinese-made goods, he has pledged 10% or 20% tariffs on all goods imported into the US.

He has also pledged to deport millions of illegal immigrants, lower taxes, and bring manufacturing home.

Even though some of these promises might seem extravagant, many voters who were having financial difficulties due to rising food and housing costs were persuaded that they would be better off supporting Trump.

How are the global markets reacting?

In addition to having a significant effect on the US economy, Trump’s policies will have significant global repercussions.

A Trump victory elicited a mixed response from Asian stock markets, which were the first to open following the election. The S&P/ASX 200 in Australia and the Nikkei in Japan were both up.

The Hang Seng Index for Hong Kong, however, was declining.

Thus far, European markets have been quiet, and mainland Chinese stocks have not moved much.

The US markets were both hopeful and wary of Trump’s victory. The Dow Jones Industrial Average surged 3 points, the S&P 500 Index jumped 2 points, and the Nasdaq Composite jumped 2 points.

All three indexes reached all-time highs on Wednesday, while the MSCI index of global stocks increased 1 point.

Since the 10-year US Treasury bills sold off and yields spiked toward 4% amid fears that a growing deficit under Trump would force the government to pay up for borrowing, the bond market did not show any signs of such an increase.