Trump has won. The end of innocence, and maybe the end of this blog? (Or maybe not!) I began it in the early Obama days, on a note of huge optimism. Obama gave us Obamacare but he didn’t sort out the malaise in the American blue-collar economy and in the end he, and Biden after him, had no answer to a Southern Baptist-style resistance to any kind of deep social change. The open economy will become as far as Trump can take it a closed economy, operating behind tariff barriers.

I’ve been as guilty as anyone of denigrating Trump. I say ‘guilty’. Yes, he does remind me of the Antichrist of the Left Behind novels. He has Messianic tendencies. He’s happiest dealing with autocrats. He aspires to be one himself. Power rather than leadership is his game. And yet… he read the runes, he caught the mood and he’s been remarkably consistent. He made the economy the one big decisive issue, which it always is. Yes, it’s performed well compared to the rest of the  world over the last three years but it hasn’t brought jobs back where it matters in the Rust Belt, and inflation, however much it can be tied to the response to Covid, is a real big issue.

(I am, however, reminded of a comment by an Austrian ex-Nazi I came across yesterday. He argued in 1946 that he’d only supported the Anschluss in 1938 because he thought it would solve his country’s economic problems. Prioritising the economy can take us down perilous routes.)

How quickly tariffs, by reducing imports, can open up new jobs and a new prosperity for American workers is a very open question. Will they have the opposite effect? We may soon be back with higher levels of inflation, underpinned by low interest rates, if Trump can somehow override the opposition of the Federal Reserve.

The other big and decisive issue has of course been immigration. If a pushback in the other direction stops the northward movement in its tracks then the immigration tide might just be turned. If there no promised land you’ve nothing to head toward. How he plans to send back illegals in their millions is an open question. Is it feasible? And who will receive them? And what impact could it have on an American economy which needs immigration?

Putin will be happy this morning. Xi Jinping has reasons to be worried. If tariffs hit home then he’ll have to find new markets, not least by injecting demand into his own economy. Narendra Modi will be smiling: he will once again have a like-minded president to deal with. Israel – Trump could bear down on Netanyahu in a way Biden couldn’t and Harris wouldn’t have been able to. Netanyahu won’t have much pushback if Trump wants to be assertive. Trump is of course strongly pro-Israel but he will also want to show that he has a magic power to bring wars to an end.

Ukraine. It should have been the first of my list of foreign policy issues. The conflict has become normalised. We can get used to war. Boundaries will be as they are now on the battlefield. The Donbas will be lost to Ukraine, maybe forever. Ukraine won’t get NATO membership. What guarantees will it get? An end to war on terms which allow for their country’s survival may be acceptable to most Ukrainians.

As for NATO, it will survive but in how much of an emasculated form? And the EU: Trump won’t give its concerns and welfare a second thought. It might be different if there was a big European figure with Trump-like tendencies he could sit down with. Hungary’s Viktor Orban writ large. Nor will he have reason to give the UK much attention, save insofar as it can provide him with more golf courses.

We have to hold our breath, to hope he doesn’t take on his domestic ‘enemies’ as he has threatened to do. That he doesn’t attack institutions as the Heritage Foundation have suggested he should, and impose new conditions of loyalty on Federal officials. That the next midterm election will be free and fair.

As I write I don’t know if the Democrats will regain control of the House of Representatives. If the Republicans control both sides of Congress then Trump will have untrammelled power.

Welcome to the uncertainty. We just don’t know how it will all play out.