Arirang Culture Connect Special Report
---
The Trump 2.0 Era and Global Economic Shifts
With the re-inauguration of President Donald Trump in 2025, the 'Trump 2.0' era has officially begun, bringing sweeping changes to U.S. economic and foreign policy. His economic strategy, termed ‘Maganomics,’ is centered on tax cuts, deregulation, and job creation while emphasizing protectionism and ‘America First’ policies.
On February 1, 2025, President Trump signed several executive orders addressing trade, climate, immigration, and national security, marking a significant shift in U.S. economic and diplomatic strategies. These measures are expected to have a profound impact on global supply chains and international trade dynamics.
Key Policy Changes and Their Global Impact
The Trump 2.0 era is characterized by a departure from ‘Bidenomics’ to ‘Maganomics,’ reinforcing tariffs, deregulating environmental policies, and intensifying strategic decoupling from China. The key executive orders include:
Tariff Imposition: A universal tariff policy has been implemented, imposing at least a 10% tariff on all imports. Additionally, tariffs of 60% on Chinese products and a potential 100% tariff on foreign-manufactured automobiles are expected to reshape global supply chains.
Canada and Mexico Tariffs: While tariffs on Canada and Mexico were initially scheduled, their implementation was postponed by one month until March 3, 2025. However, tariffs on China were enforced immediately.
Climate and Energy Policy: The administration declared an energy emergency, withdrew the U.S. from the Paris Climate Agreement, and abolished electric vehicle mandates.
Immigration Policy: Measures include declaring a national emergency at the southern border, restricting birthright citizenship, and suspending the refugee admission program.
Additional Measures: Executive orders also targeted federal employee regulations, delayed the TikTok ban, and initiated the withdrawal of the U.S. from the World Health Organization (WHO).
These policy changes signal a shift toward stronger trade protectionism, increased geopolitical tensions, and significant economic restructuring worldwide.
Response Strategies of Different Countries
Various nations are adjusting their policies to mitigate trade friction, resolve trade imbalances, and diversify supply chains in response to these shifts.
South Korea is expanding its imports of U.S. LNG, reinforcing the Korea-U.S. alliance, and diversifying supply chains to reduce dependence on China. It is also considering diplomatic measures to avoid excessive tariff burdens.
China is focusing on strengthening its domestic industries and expanding trade with emerging markets in response to U.S. tariffs. It is seeking new trade partners in the Middle East, Africa, and Latin America.
Europe is pursuing sustainable industrial policies while responding to U.S. climate deregulation with green economic initiatives.
Canada is promoting economic growth through immigration policies and expanding infrastructure and industrial investments to counterbalance potential trade disruptions with the U.S.
These shifts highlight the necessity of strategic planning and global cooperation to navigate the evolving trade environment.
Economic Impact: Global Supply Chain Restructuring
President Trump’s aggressive tariff policies are expected to cause inflationary pressures, increase production costs, and disrupt supply chains.
Price Inflation: The new tariffs on Chinese goods and foreign automobiles could lead to rising consumer prices and production costs across multiple industries.
Supply Chain Disruptions: The relocation of manufacturing bases from China to Southeast Asia, Mexico, and India is being accelerated by multinational corporations seeking tariff-free production zones.
Uncertainty in Trade Policies: The ongoing review of unfair trade practices suggests that tariff hikes on major trade surplus nations could continue, further increasing economic uncertainty.
The long-term effects of these policies will depend on how businesses and governments adapt to this new economic environment.
South Korea's Cultural Sector Response: Strengthening Global Networks and Digital Expansion
The Trump administration’s trade protectionism is also impacting the cultural industry. South Korea is taking proactive measures to expand international cultural exchange based on intangible cultural heritage while leveraging digital platforms to access new markets beyond traditional trade routes.
As protectionist barriers rise, the importance of cultural diplomacy and global cultural exchange is increasing. Culture Masters is at the forefront of this movement, turning challenges into opportunities through various initiatives.
Culture Masters' Global Cultural Strategy
Culture Masters is strengthening global cultural networks through innovative cultural projects such as the World Intangible Heritage Festival & Contest (WIN), designed to foster cross-cultural collaboration and create economic opportunities for intangible heritage practitioners worldwide.
WIN: The Hub of Global Cultural Exchange
Culture Masters plans to host the World Intangible Heritage Festival & Contest (WIN) in the fall, 2028. This event will bring together intangible heritage practitioners, artists, and cultural stakeholders from around the world, providing a creative platform for the fusion of tradition and modernity.
* If special circumstances arise, the 2028 World Intangible Heritage Conference may be rescheduled to 2026.
This festival is designed with three main objectives: the protection and transmission of intangible heritage, the development of the cultural content industry, and the expansion of global networks. The event will feature collaborations between traditional music and K-pop, the integration of traditional crafts with digital technologies such as NFTs and AI, and creative performances combining media art with traditional dance.
Additionally, there will be exchange programs for intangible heritage practitioners and artists from different countries, as well as an international cultural business forum linked to urban regeneration projects based on intangible heritage. To ensure sustainability, the festival will strengthen collaborations with UNESCO and international organizations, attract global sponsors and partnerships, and engage with national governments and private organizations for joint projects.
Preliminary Project: World Intangible Heritage Invitational Performance Program (2025–2027)
Ahead of the 2028 World Intangible Heritage Festival (WIN), Culture Masters is launching the World Intangible Heritage Invitational Performance Program as a preliminary project from 2025 to 2027. Based on a feasibility study conducted over the past two years, the project will take place in five selected cities: Seo-gu, Bupyeong-gu, and Yeonsu-gu in Incheon Metropolitan City, as well as Suwon and Siheung in Gyeonggi Province.
This invitational performance program is a global cultural exchange initiative, featuring UNESCO-listed intangible heritage performances and Arirang Masters performance teams, combined with modern K-content. The project aims to explore the fusion of Korean traditional culture with contemporary content, providing valuable experience and laying the groundwork for the successful hosting of the 2028 World Intangible Heritage Festival (WIN).
Culture Masters' Four Global Strategies
I. Promoting Cultural Diversity: A Global Cultural Connector
Culture Masters emphasizes cultural diversity and inclusivity while expanding cooperation with the global intangible heritage community. It supports and protects intangible heritage artists through the Arirang Master Designation Program, provides digital competency and leadership education through CM Global Academy, and disseminates global intangible heritage news via the Arirang Culture Connect digital platform.
II. Leveraging Digital Platforms: Expanding Cultural Content Globally
Culture Masters maximizes digital accessibility by operating the Arirang Culture Connect global news platform, offering CM Global Academy online education, and launching digital exhibitions integrating traditional arts with advanced technology.
III. Strengthening Social Responsibility: Sustainable Development and Heritage Protection
Culture Masters integrates corporate social responsibility and sustainability, initiates heritage transmission projects, and is developing an intangible heritage certification system to ensure long-term cultural preservation.
IV. Building Global Cooperation Networks: Cultural Diplomacy and Creative Industry Development
With an International Advisory Board (IAB) spanning 15 countries, Culture Masters collaborates with UNESCO, governments, and corporations to establish policies for heritage protection, develop cultural CSR projects, and advance multinational cultural exchange initiatives.
Conclusion: New Opportunities for Cultural Diplomacy in the Trump 2.0 Era
The Trump 2.0 era presents both challenges and opportunities for global economic and cultural landscapes. Amid shifting trade policies and increased protectionism, Culture Masters is pioneering cultural diplomacy strategies that integrate creative industries, sustainable development, and international cooperation.
As a leading force in global cultural exchange, Culture Masters is committed to shaping a shared vision for the future of culture worldwide, ensuring that cultural heritage remains an essential pillar of economic and diplomatic engagement in the evolving global order.
📢 "Join us in celebrating and safeguarding the world’s intangible cultural heritage. Your support helps sustain cultural traditions, empower artists, and connect global communities for future generations." 👉 Sponsorship Opportunity