The US economy continues to dominate global growth, with companies like Walmart, Alphabet, and Apple leading the charge. Despite President Trump’s claims of being cheated in trade deals, the US remains a major hub for international business. The Forbes Global 2000 list, which ranks the world’s largest companies by revenue and profit, shows that the US is still the top economy, with 612 companies on the list. China is second, with 317 companies represented.
The growth of global economies is driven by the increasing interconnectedness of the world’s major markets. The S&P 500 index has seen a significant increase over the past two decades, with many US companies enjoying substantial growth in revenue and market value. Tech giants like Nvidia have also seen rapid growth, with some companies even surpassing the previously top-ranked Apple.
However, trade tensions between the US and other countries have raised concerns about potential disruptions to global economic growth. The tariffs imposed by the US on various countries, including China, Canada, and Mexico, have increased costs for businesses and consumers. This could lead to reduced profits for companies on the Global 2000 list, particularly those with significant international operations.
Despite these challenges, many bankers are optimistic about the potential benefits of deregulation and tax cuts, which they believe could boost mergers and IPOs. However, if trade tensions continue to escalate, it could have negative consequences for global economic growth.
The US economy’s dominance is reflected in its strong presence on the Global 2000 list. Banking profits have increased due to high net interest margins, while diversified financial companies like Goldman Sachs and Blackstone have also seen significant gains. The tech sector, however, has been less represented, with only a handful of companies making it into the top 100.
As the world navigates these complex trade tensions, the global economy will continue to be shaped by the decisions made by governments and businesses. It remains to be seen whether the benefits of globalization will outweigh the costs of protectionism and trade wars.
Source: https://www.forbes.com/sites/hanktucker/2025/06/12/inside-the-global-2000-trumps-tariffs-havent-stopped-the-worlds-growth-yet