Last Updated on November 9, 2024
A Comeback that truly “Trumps” all comebacks. And the lot coming with it, of course!
Particularly his proposed economic strategies being at the forefront of global debate. One that includes offers of a 60% threshold for Chinese imports and a 10% across-the-board tariff on imports from every country.
For those unaware, these tariffs would be some of the highest since the Second World War!
Pantheon Macroeconomics suggests that a 10% tariff could result in a 0.8 percentage point increase in inflation, which will put pressure on both manufacturers and consumers in the United States. Pundits are similarly anxious because while companies may hope to reshore businesses back to American soil, high labor costs in the country may preclude this from happening.
Ripple Effects on the UK and EU Economies
The international ripple effect of these tariffs is significant. Goldman Sachs has already cut its expectation for Britain’s growth next year to 1.4% from 1.6%. Similarly, the officials note an EU downward trend in exports to the U.S., approximately 150 billion (£125 billion) in the coming years. At its worst, estimates provided by the National Institute of Economic and Social Research suggest that Trump’s proposed tariffs could cut the UK’s growth by over half, fuel inflation, and possibly push up interest rates.
This would place additional financial strain on British households, with rising costs on goods and services.
Educational Sector Concerns
Specifically, under Trump’s administration, fears are mounting regarding more regulation of U.S. institutions, particularly those receiving state funding, which may hamper students’ prospects of studying abroad. Government grants will also be areas subjected to a reduction, impacting students from non-English speaking nations.
However, all that said, Trump’s pledge in June to introduce a plan to offer green cards for overseas graduates of US colleges might be the game-changer needed. If such a promise is to be translated, it is likely to increase the attractiveness of US universities for Indian students and many others around the world.
Potential Impact on Indian Students
Indian students, who are among the most prominent international student groups in the U.S., stand at a crossroads. While the green card pledge could enhance the attractiveness of USA universities, concerns over changes to the OPT and H-1B visa programs persist. Previous suggestions from Trump to limit these plans have been a subject of controversy because these pathways are essential for overseas learners wanting employment in the region after graduation.
Most in the sector think that Trump’s policies can shift the preferences of Indian students for studying abroad. A more favourable U.S. visa and residency landscape makes it the top choice, while restrictions redirect flows to the UK, Australia, or the rest of Europe.
Spotlight on the UK and the rest of Europe as Alternatives
If U.S. immigration policies become restrictive under Trump’s administration, the top UK and European universities may emerge as preferred alternatives. Institutions such as Oxford, Cambridge, Imperial College London, University College London (UCL), and the London School of Economics (LSE) are already popular among Indian students. These universities could attract even more applicants if Trump’s policies limit access to the U.S. market. Students might also start looking into Europe, with Paris, Ireland, Netherlands, Germany, and Australia being affordable and budget-friendly choices–with greater ROI and career prospects. Alongside that, and with the anticipated challenges in the UK’s economy, these universities might also introduce more competitive scholarship programs or incentives to maintain their appeal amid global shifts.
The world of international education is shifting, and in uncertain times, having the right support is everything.
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Bhaskarjyoti Paul is a seasoned content writer with over three years of experience within the ed-tech space. Specialising in study abroad and academic content, Bhaskarjyoti excels at creating SEO-optimized articles that drive traffic and engagement and blog and website content that engages and informs readers. Bhaskarjyoti handles social media content for Admissify, designs compelling narratives and spearheads engagement across multiple platforms. With a desire to help students and a keen eye for detail, Bhaskarjyoti brings a wealth of knowledge to every project.
