Haddadin: Biden raises oil prices in front of Trump.

The director of  Jobkins Center for Strategic Studies expert, strategic and economic analyst engineer Mohannad Abbas Haddadin said that Biden is still complicating the economic scene in front of Trump when he assumed the presidency in less than two weeks when he approved new sanctions targeting Russian oil revenues, which help finance its war on Ukraine, including oil and insurance companies and 183 tankers, and the US administration expects that decisions cost Moscow losses of up to billions of dollars a month, as Russia acquires 10% of the world oil market, which led to fears in the world oil markets that led to 80 dollars per barrel and this, of course, will raise fuel prices in the United States, in addition to raising prices in general.اضافة اعلان

All this in light of natural disasters from fires that hit the US state of California, whose gross output is about 15% of the gross product of the United States, losses from fires have been estimated at 135-150 billion dollars, where the weak infrastructure to cope with climate change, the Biden administration did not invest in modernizing and strengthening fire fighting methods and avoiding them in some US states, the most important of which is California, where tens of billions went to support two futile wars, namely the Gaza war and the Ukraine war, and these are added to other economic problems that Biden will inherit for the new administration, the most important of which is high indebtedness, which 36.2 trillion dollars, and fears of a rise Inflation during this year is in the shadow of a high dollar, and the next Trump administration plans to raise taxes on imports from China and Europe at different rates. 

As well as the confusion in Trump's statements to revive the American economy through his thinking of occupying Allied countries, and forcing NATO countries to raise their defense budgets to reach a maximum of 5% to benefit the US economy, and this, of course, will lead to the disintegration of the partnership with Europe, whether defensive through NATO or economic, in addition to tension with China, which the United States cannot do without in an integration that benefits both parties.

 All this will pose strong challenges to Trump that will lead to disagreements within the US Congress between the Democratic and Republican parties.