Trump Prepares To Unleash Global Trade War
ZeroHedge, June 30, 2017
One of Trump’s recurring campaign promises was that he would «punish» China and other key US trade counterparties for taking advantage of free-trade by imposing steep tariffs and duties on foreign imports to «level the playing field». The President’s stance changed drastically after the election following his amicable meeting with China’s president Xi Jinping in March. And also as a result of pressure by his ex-Goldman advisors to keep existing trade arrangements in place and not «rock the boat.»
Now, all that may be about to fall apart.
One of the most consequential and contentious internal debates of his presidency unfolded during a tense meeting Monday in the Roosevelt Room of the White House where with more than 20 top officials present, including Trump and Vice President Pence, the president and a small band of America First advisers made it clear they’re hell-bent on imposing tariffs — potentially in the 20% range — on steel, and likely other imports.
In other words, Trump is set to launch a global trade wars after all, one where then main country impacted would be China. However, the collateral damage would extend to Canada, Mexico, Japan, Germany and the UK.
And what may be even more striking is that Trump overruled his cabinet, as the sentiment in the room was 22 against and 3 in favor — but since one of the three is named Donald Trump, it was case closed. While no final decision has been made, the President is leaning towards imposing tariffs, despite opposition from nearly all his Cabinet.»
Needless to say, if Trump follows through, the outcome would have a profound effect on U.S. economic and foreign policy.
What is also notable, is that this is the first time — so far off the record — in which Trump has openly defied his Wall Street establishment advisors, while siding with the Bannon «populist» front. Everyone left the room believing the country is headed toward a major trade confrontation.
For all his bluster and outrageous media outbursts, Trump had largely been in Wall Street’s pocket so far. If Trump indeed launches global trade war, his future decisions will become increasingly market unfriendly.
Здешние политиканы, «эксперты», подконтрольные ЦРУ СМ»И» нахваливают псевдодемократическую, якобы процветающую Америку.
Те, кто любит «наших американских (государственных) партнеров», «забывают» о грязных, злых уродах США. О таких монстрах, как коварный и крайне опасный мошенник, расист, лжец, неофашист и убийца Дональд Трамп. И о таких, как порочный Конгресс, кровавые милитаристы США, нацистские ФБР — ЦРУ, лживые американские СМ”И”…
Арнольд Локшин, политэмигрант из США