Trade relations of almost every state is having historic low since president Trump in office. The rhetoric of Trump is to Make America Great Again is seen as a threat to multilateral economic framework and globalization. At times. US is interested to strengthen its domestic industry and removing competitors by placing tariffs on imported goods, China is a glaring example.
EU, is another glaring example of this economic tussle. EU is the manifestation of multilateral-ism while US pursue protectionist approach, absolute gains. EU Trade Commissioner Cecilia Maelstrom is currently in Washington to discuss a new trade deal with US. It is to be noted that she stressed it would be limited, not too much broad. She stressed EU is interested to strike a deal in industrial areas only, not in agriculture sector while the framework is yet to decide. Moreover, she announced agreements details will confine industrial goods of limited scope would be carried out once the scope is defined.
After Trump threatens tariffs on auto imports from EU, EU Commission President and Trump is scheduled to reach an outcome and to strike a deal by the mid of 2019. Br-exit phenomenon has already placed EU in hot water whose scope is yet to be decided. The philosophy of economic growth in EU is multilateral-ism and mutual growth which is under threat by forces of protectionism and modern mercantilism. The US sanctions on North Korea, Russia and lately on Iran put EU at odds with the US which would have long term effects on trade deals in a time to come.
