The US, Trump & Markets

In his articles and appearances, Kliment Robev treats US economic policy under Donald Trump not as a string of impulsive decisions but as a strategy with its own internal logic – and a clear cost for financial markets. After Trump’s election victory he described him as the more favourable choice for Wall Street, chiefly because of the promised cut in corporation tax, yet in “Trump, Musk and Wall Street: optimism or illusion?” in 2025 he warned that the new administration’s unpredictability would bring increasingly frequent bouts of high volatility.

His analysis in 2025 centres on tariffs and the motives behind them. In his view the United States is being run like an indebted corporation with three priorities: lower public spending, more revenue from tariffs and reindustrialisation, and lower interest rates. In “Recession to order: Trump’s strategy” he concludes that the key is a cheaper dollar, achieved through pressure on the Federal Reserve, and that without it the strategy is doomed to fail. He sees tariffs above all as a negotiating tool rather than an end in themselves.

In “Donald Trump’s presidential volatility”, published in 2026, Robev describes the recurring cycle – dramatic statement, market panic, reversal and rally – and asks whether it can hold when the war with Iran, oil above $100 a barrel and inflation limit the Fed’s room for manoeuvre. What links these pieces is an effort to separate political noise from the economic mechanisms that actually move markets.