Wednesday 30 / October / 2024
MUSCAT: President Donald John Trump was sworn in as the 45th President of the Unites States on Friday, vowing to ‘drain the swamp’ of lazy politicians and “put America first”. For Americans in Oman, industrialists and analysts, Trump should be given time to make good on his promises.
With 20 new cabinet picks, including the appointment of son-in-law and senior adviser Jared Kushner to broker peace between Israel and Palestine, President Trump began his presidency with seismic policy interventions – including freezing spending on Obamacare, the controversial healthcare scheme started by outgoing President Barack Obama.
Good or bad?
Oman based analysts and industrialists say it’s too soon to tell whether a Trump presidency will be good or bad for the Sultanate – but existing relations between the two countries are currently on a high and it would benefit neither to end a special relationship.
Americans living in Oman say America is bigger than one man and that Trump should do as promised and work for the good of all Americans. Jonathan Stearns, who runs Peak United Company in Oman, said that after watching some US news stories showing reaction towards the new president, he is surprised by how extreme some people are being.
“We have to remember, a country is bigger than one man. That is why America’s founders put checks and balances into the government structure. He is now the president. I believe it is time to stop attacking one man and start supporting all of our government branches to make tomorrow better than yesterday,” Stearns said.
Scott Brink, an American teacher in Oman, said that he is concerned about the perception the international community may now have towards the American government with Trump as president due to the negative rhetoric during his campaign and in his inauguration speech.
“However, I am confident that the local and international population in Oman will continue to treat me, an American, with kindness and respect. I have lived in Oman with my family for 15 years now. Regardless of what is being said in the news or by politicians, I have found that the local population has always been quick to greet me with an open mind and a willingness to learn more about me through dialogue,” the teacher added.
In December, Oman’s Minister for Foreign Affairs Yousuf bin Alawi bin Abdullah, said: “Why should we be concerned? This is not the first US administration to be deemed unfit.
“But it could be fit. The new Washington language, despite its dialect, can be accepted by some and rejected by others, just
like rain.”
While Trump has ushered in a new period of American protectionism, economists and investors in Oman have adopted a ‘wait and see’ policy over whether his policies will impact Oman, already hit hard by the dip in oil prices.
A recent ABC News/Washington Post poll found trump had the lowest favorability rating of any incoming president since the 1970s.
“On his first day he made clear that he wants to put “America first” by rolling back Obamacare and initiating a nationalistic vision for the country. This reveals that, at least for the first few months, he will be focusing more on homeland issues and then thinking about the GCC and the Middle East. So, we have to wait,” Loai B Bataineh, chief investment officer at Ubhar Capital, told Times of Oman.
“Economically, he has hinted about imposing taxes on European goods. So, we can expect the same for the goods from here. Here also, we have to wait to know what he is planning,” the investment specialist added.
On Friday, in his inaugural speech, Trump said that the American “carnage stops right here, right now”, a reference to the job losses across America he claims have been caused by cheap labour deals. “From this day forward, a new vision will govern our land. From this day forward, it’s going to be only America first. America first,” he added.
Meanwhile, Anvwar Al Balushi, an industrialist, said that it is quite early to predict on the impact of Trump’s policies on global trade and we have to wait and see as the global market is intertwined and any changes anywhere in the world will have an impact on all.
“However, while talking about Oman and US bonds, we are quite hopeful on both economic and political sides. For US, our country is a trusted partner. I don’t think Trump will act to lose that,” Anvwar added.
An investment advisor in Oman also said that Oman and the US have always maintained good relations, be it political or economic.
“Let it be regional political issues like Yemen, Syria or Iran, we have seen that the US trusts Oman as a good ally who can find a solution. I strongly believe that Trump will not destabilise everything, especially the economic balance,” Dr Anchan CK, the investment advisor, said. A recent World Bank report stated that Trump’s policy impact remains unclear.
The report noted that Trump’s tax cuts and spending plans could deliver a shot in the arm to the US economy, lifting growth around the world, although uncertainty about his trade policies adds to the risks. The report adds that Trump’s administration could squander the economic gains of fiscal stimulus if it imposes new trade barriers that provoke retaliation by other countries.
“Overall, it is too early to assess what the net impact will be of Trump’s economic policies,” the World Bank reported.
