With Donald Trump’s re-election in the 2024 U.S. presidential elections, the world is once again preparing for the revival of “Trumponomics” an economic strategy centered on protecting American interests, boosting domestic industry, and reinforcing the U.S. economy. This time, the Trump administration is not only aiming for domestic economic shifts but also looking abroad particularly at Afghanistan’s untapped mineral wealth as a potential asset to strengthen U.S. economic power.

Trumponomics in its first term was driven by the “America First” slogan, seeking to reinvigorate domestic manufacturing, reduce reliance on foreign supply chains, and protect American jobs. It involved tax cuts, deregulation, and a hardline trade stance against China. Although this approach yielded short-term economic gains, critics argue it also led to greater income inequality, trade tensions, and instability in certain U.S. industries. In 2017, Trump’s administration slashed corporate taxes and imposed tariffs on Chinese imports. Notably, it also paid strategic attention to Afghanistan’s vast mineral reserves especially lithium and copper highly valuable in the era of green technology and electric vehicles.

Trump’s renewed interest in Afghanistan’s minerals revives an earlier ambition. Back in 2017, his administration identified Afghan mineral resources estimated at over one trillion dollars as a means to offset the costs of war and stimulate both Afghan and American economic interests. However, challenges related to infrastructure and security rendered most of these resources untapped. Afghanistan lacked adequate roads, railways, and electricity grids, while much of the territory remained under the control of the Taliban or local warlords, making access to mines difficult.

Efforts to extract these resources, including the Aynak copper mine leased to a Chinese company, failed to materialize due to security threats, regulatory disputes, and falling global commodity prices. The U.S. Special Inspector General for Afghanistan Reconstruction (SIGAR) criticized American mining efforts for lacking coordination, which put nearly $488 million in investments at risk.

In his second term, Trump is reportedly drafting a renewed strategy for Afghan mining. His administration proposes the creation of a joint public-private investment fund aimed at addressing infrastructure and security challenges that previously hindered mining operations. By partnering with private security and development companies, Trump hopes to unlock access to Afghanistan’s mineral wealth despite the country’s ongoing political complexities.

Lithium, in particular, has a central place in Trump’s new economic vision. As a critical element in batteries for electric vehicles and green technologies, Afghan lithium holds strategic value. Trump’s team sees Afghanistan as a potential key supplier that could reduce the U.S.’s dependence on China for rare minerals and secure more control over green tech supply chains.

In contrast, Kamala Harris who served as Vice President under Joe Biden and also ran in the 2024 elections offered an opposing economic vision rooted in environmental protection, social equity, and international cooperation. Harris advocated for green energy investment, progressive taxation, and expanded social programs to reduce income inequality. Her vision emphasized sustainable development and global collaboration, diverging sharply from Trump’s more unilateral approach.

Trump’s re-election signals a renewed focus on national pride and economic power. While the strategy for Afghanistan’s mining industry appears promising, it faces familiar hurdles. The Taliban now controls Afghanistan, and the political environment remains highly uncertain. Despite this, Trump’s administration views Afghanistan’s resources as strategically essential not only for domestic economic gain but also for securing the U.S.’s position in the evolving global energy landscape.

As the world transitions toward green technologies, access to rare minerals like lithium has become a matter of national security. Trump's plan to tap into Afghan resources could potentially boost America’s standing in energy production. However, analysts caution that such ambitions much like those in 2017 depend on overcoming logistical barriers, market volatility, and Afghanistan’s unresolved political situation.

The path of Trumponomics intersects with the global quest for economic stability. While Trump’s administration seeks to achieve U.S. economic independence through bold and aggressive strategies, the success of such efforts will affect not only Afghanistan’s future but also the broader trajectory of the global economy. Ultimately, Trump’s pursuit of “economic power” and Harris’s focus on long-term equity and cooperation reflect two competing visions. The world now watches closely to see how Trumponomics will shape the economic future of the United States and its global relationships.