Donald Trump Economic Policy
Since the end of Second World War the United States played very crucial role in shaping and maintaining the global trade system but under the administration of Donald Trump the leading role of United States in pressing for new free-trade agreements and multilateral trade rules seems very much complex. After the emergence of China as new hegemonic economic power the role of United States was in trouble and after the trump victory. If Americans view free trade positively they are very much uncertain about the free-trade agreements.
There has been very much conventional and moderate approach shown by trump administration although Trump’s campaign suggested a fundamental change in trade policy. It is to be noted that Trump has presidential powers on trade but the role of congress, economic and voter preferences the growing international environment on the trade and the interference of agencies and cabinet cannot be undermined.
The vital pillars of Trump’s policy include the tackling of perceived unfair practices, reducing the US trade deficit and the more aggressive use of trade remedies in the international trade system. It is to be noted that there is very much uncertainty between the bilateral deals and the negotiations going around with EU on trade.
There have been negative economic consequences of the trade war with the other states, especially with China and more moderate trade-restrictive measures for the US as well as the whole world. The trade policies possesses by the Donald trump have wide range of geostrategic implications considering the role of trade in deal making and the friction in the international forum mainly World Trade Organization.