As Donald Trump attends his inauguration as President of the United States, Toby Illingworth takes a look at his likely trade policies:
🇺🇸 Trump Trade Policy
by Toby Illingworth
In the week where we will see the inauguration of the 45th President of the United States of America, The Channel Group has been investigating what sort of trade policy will emanate from the new administration.
It is becoming clearer that Donald Trump is keen to purvey the image of an administration with its foreign policy firmly rooted in Reaganism. To this end, the President-Elect has indicated his desire to replicate the negotiations between Ronald Reagan and Mikhail Gorbachev when meeting with Vladimir Putin for the first time. Trump is keen that the first meeting of the two Presidents takes place on ‘neutral territory’ such as Reykjavik, where the two titans of the Cold War met in 1986.
In addition to this, Trump has also nominated Robert Lighthizer to the position of US Trade Representative. Lighthizer served as deputy trade representative to President Reagan. His nominee for Secretary of State, the former Chairman and CEO of ExxonMobil, Rex Tillerson, has often been seen as an advocate of restoring relations with Russia. He has been awarded the Russian Order of Friendship and strongly opposed sanctions against Russia in 2014. This indicates that there will be a thawing of relations between the US and Russia, potentially leading to the opening up of new trading links between the two countries.
Friday’s inauguration will begin the premiership of the 45th President, but we are still unsure what this means for US relations with Mexico, China and Europe. NATO members have at least been partially reassured that they can count on US assistance, but if America really embarks on a protectionist revolution, we could see the world becoming more insular and therefore less stable.
Trump’s planned trade policies:
- Withdraw from TPP
- Renegotiate or withdraw from NAFTA
- Label China a currency-manipulator
- Direct ‘all appropriate agencies to use every tool under American and international law’ to stop violations of trade agreements that harm US workers