In my opinion it is quite likely that the new political leadership will concentrate its efforts on calming the situation created by the previous administration, I would bet on an intense diplomatic activity focused on expelling Chinese economic influence from South America, adopting a series of saving measures that help eliminate taxes on the domestic economy. It does not seem a good scenario to increase defense spending, before that the new administration will most likely increase arms sales to Israel and Europe, perhaps creating incentives for those weapons to be necessary... and expensive.
In my opinion, this is what a good businessman who wants the growth of his country would do.
I don't think he accepts the game of being the firefighter and the policeman of the world no matter how many provocations his external and internal enemies make, that story no longer works.