By Aleksandra Sidorova
Ten hours after the Associated Press called the presidential race in favor of Donald Trump, political science professor Daniel Lake explored how the country might change when he takes office.
The discussion titled “What Just Happened?” was hosted by the Institute of Ethics in Public Life, which Lake is the director of.
The greatest consequences of the election are already felt: stocks and cryptocurrencies are seeing gains — even breaking records, as Reuters reports.
“People react to the prospective economic policies, even if we don’t know what most of them are yet,” Lake said.
One of the policies Trump has proposed includes tariffs on imported goods intended to move production to the United States. However, companies are likely to pass the cost onto consumers. A participant asked Lake why the increased costs didn’t turn away voters concerned for the economy.
“When I’m teaching politics to students, I tell them that perception matters and reality doesn’t, because people don’t vote based on reality,” Lake said. “People vote based on what they think reality is. So when they think this is good for the economy because they’ve been told it’s good for the economy, they’ll respond to it.”
Lake weighed in on foreign policy as he specializes in international relations.
Trump may cut foreign aid to Ukraine, in which case other European countries, or even South Korea, may need to step in, Lake said. Lake also noted Trump’s dislike of NATO, a military alliance between 30 European countries, Canada and the United States, which he may try to pull out from.
Iran, Israel and Russia may also be more free to operate. However, the exact outcomes will depend on whom Trump decides to appoint to executive positions, as Trump’s perspectives are known to change.
