Trade wars are becoming a reality. After a short period of apparent detente, US President Donald Trump recently declared that Washington is ready to levy tariffs on Chinese imports for $50bn, as well as broader investment restrictions. Now, trade talks have come to an impasse: the US Administration will also impose steel and aluminum tariffs on the European Union, as well on Mexico and Canada.
In the past decade, the EU has shown the world its ability to struck ambitious trade deals and to create the conditions for win-win agreements. Today, its trade policy is endangered by the threat of a trade war initiated by the United States, the EU closest ally and main trade partner.
Donald Trump won the Presidency promising to upend decades of American trade policy. A year and a half into his administration, has he delivered on these promises? And what is the future of American trade policy?
Will Trump Launch a Trade War?
Durante l’imminente visita di Stato del Presidente Trump in Cina, le relazioni commerciali tra le due economie più grandi del pianeta saranno uno tra i temi più caldi, secondo quanto annunciato ieri dalla Casa Bianca.
The United States’ regional hegemony in Asia is under threat like never before. For the first time in decades, both allies and rivals are openly questioning America’s staying power in the world’s most dynamic region.
Thus, the U.S. President Donald Trump’s visit to the region comes at a critical juncture. During his two-weeks-long overseas trip, he will visit key allies of Japan, South Korea and the Philippines as well as a former enemy (Vietnam) and chief global rival (China).
Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump will play golf in Japan in November. That will take place when Japan’s old – and after Tokyo’s Lower House election of October 22 also new – Prime Minister Abe will host Trump on November 5-7 on the first leg of his Asia trip. Yet another occasion for Abe to demonstrate that he agrees on essentially “everything” with the short-tempered Trump, who continues to conduct domestic and foreign policies mainly over Twitter in the early hours of the day.
Understanding the current iteration of the two-decade long North Korean crisis is not easy. It is, for what of a better word, complicated. Furthermore, the fact is that it has finally imploded while Donald Trump is President. “Of all the presidents in all the world, why did you have to start a North Korean crisis with him...?” This is not an administration that lends itself to level analysis. And nor is the topic, for that matter.
Recent political events – from Trump’s election to the outcome of the Brexit Referendum - have somehow caught the world by surprise, and are contributing to a growing sense of concern or even alarm about the future of the Western world and, particularly, Western democracies as we know them.