Economic Update with Richard D. Wolff Trump 2.0 The First Year: An Assessment
Feb 17, 2026
A sharp assessment of how a declining American empire shaped political choices and limits. Discussion of Republican priorities that favor corporate and wealthy interests. Analysis of tax cuts, tariffs, deficits, and military actions as political and economic responses. Examination of rising inequality, damaged international alliances, and the shifting balance with China.
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Declining Empire Limits Presidential Options
- Trump inherited a declining American empire that undercuts any simple domestic fix.
- Richard D. Wolff explains decline means lost global economic leverage, rising competitors like China, and fewer external supports for US prosperity.
Tariffs Didn't Reshore Manufacturing Jobs
- Trump's tariffs failed to reshore manufacturing; manufacturing jobs fell by about 70,000 in his second-term year.
- Wolff emphasizes tariffs mostly paid by Americans and didn't reverse decades-long manufacturing decline.
Republican First Priority Is Corporate Wealth
- The Republican Party prioritizes corporate interests and rewards them with tax cuts and deregulatory policies.
- Wolff cites Trump's signature corporate tax cuts in 2017 and a major 2025 tax bill as first acts serving wealthy donors.