The note discusses the strategic foundations of the US’s new protectionism. Contrary to the argument that protectionism serves to curb deindustrialisation stemming from globalisation, the paper highlights that the reduction in the proportion of manufacturing output in US GDP ultimately depends on financialisation. From this perspective, tariffs can be seen as an attempt to discourage the international movement of capital, a key component of globalisation that directly supports financialisation.
Forges Davanzati, G., Scarano, G. (2026). TARIFFS, GEOPOLITICAL CONFLICTS AND US REINDUSTRIALISATION: A NOTE.
TARIFFS, GEOPOLITICAL CONFLICTS AND US REINDUSTRIALISATION: A NOTE
Guglielmo Forges Davanzati
Writing – Original Draft Preparation
;Giovanni Scarano
Writing – Original Draft Preparation
2026-01-01
Abstract
The note discusses the strategic foundations of the US’s new protectionism. Contrary to the argument that protectionism serves to curb deindustrialisation stemming from globalisation, the paper highlights that the reduction in the proportion of manufacturing output in US GDP ultimately depends on financialisation. From this perspective, tariffs can be seen as an attempt to discourage the international movement of capital, a key component of globalisation that directly supports financialisation.File in questo prodotto:
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