My take: In the medium term, capital will begin to shift away from the US and flow to other countries such as China, Canada, Mexico, Brazil, and some larger European countries such as France and Germany. In the 21st century, no sufficiently advanced and complex market society can survive on its own. Even Russia itself depends heavily on India and China.
"It may be surprising when capital constrains the designs of right-wing governments but only when we lose sight of the limits placed on capital itself. Capitalist firms operate and produce materially under definite limits and conditions independent of their will. For capital, barriers to accumulating value realized as profit appear as existential threats. Competition with other firms puts capitalists and firms at constant risk, exerting immense pressure to expand market share and realize ever greater amounts of profit in whatever place in the world market it can. Whether it is protectionist trade measures or the crippling of state capacity to service debt and maintain social order, capital will take measures to defend against policies that cut into its ability to accumulate.
The liberal democratic state’s role as a facilitator of capital accumulation has been essential to the march of capitalism around the globe. Not only does the state serve a legitimating ideological function of market processes, but it also coordinates and mediates between different factions of capital in the expansion of international trade and investments. In times of crisis, where competition between capital and state intensifies, the state takes on an even more prominent role. For instance, to whatever extent the retaliatory tariffs and other measures taken by the Canadian state impacted the Trump Administration’s decision to delay the tariffs, they were effective because they unified and amplified a response from the capitalist class ..."
https://socialistproject.ca/2025/03/trump-tariff-challenge-rule-of-capital/