Expect “America First,” tax cuts, tariffs, trade wars and a cryptocurrency boom.

As the world wakes up after election day in the US, it is looking at another Donald Trump presidency. The Republicans have also taken control of the US Senate, which will make it easier for Trump to get his economic ideas passed into law. Though the president has a number of direct executive powers, the last hurdle will be control of the House of Representatives.

Many of his economic ideas are similar to his first time in power. This time though they are more refined and he has more experience and determination to push them through. He has promised tariffs of 10% or 20% on all goods imported into the US and even higher tariffs of 60% on Chinese-made things.

Trump has promised to make America the “crypto capital of the planet” by halting regulation and being more open to innovation. His support for cryptocurrency has given hope to the industry in the U.S.. Other important changes include the apparent fact that Europe will need to up its defense spending in general. On top of that, many of Trump's policies could lead to inflation with roots in the U.S. and affect other countries' ability to borrow money. Taken together, such policies would have particularly negative consequences for Mexico, but also for the eurozone, and closely correlated with it the Central and Eastern European region.