World trade and Trump

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Series Title
Series Details No.7, March 2017
Publication Date 15/03/2017
Content Type

Upon taking office in January 2017, President Trump signed an executive order formally ordering the withdrawal of the US from the Trans-Pacific Partnership (TPP). This Brief examines the implications of Trump’s protectionist trade policies: the opportunities for third countries, as well the potential of sparking a trade war.

Upon taking office, President Donald Trump confirmed his intention to swiftly carry out some of his campaign promises on trade, which he blames for the loss of blue-collar jobs, as it allegedly exposes US workers to ‘unfair’ competition and lower standards from abroad.

The first casualty was the Trans-Pacific Partnership (TPP), an agreement signed by President Obama in 2015 after seven years of protracted negotiations with 11 partners that account for 44% of US exports. Still not ratified by Congress and criticised even by Hillary Clinton during the presidential campaign, TPP was a relatively easy target, so one of Trump’s first acts as President was to order the withdrawal of the US from it.

Source Link https://publications.europa.eu/s/c5Wo
Related Link(s)
ESO: Background information: Trump trade reset gives China and Europe opportunity to rebalance relations http://www.europeansources.info/record/trump-trade-reset-gives-china-and-europe-opportunity-to-rebalance-relations/
ESO: Background information: Trump, trade and the EU: two wrongs don't make a right http://www.europeansources.info/record/trump-trade-and-the-eu-two-wrongs-dont-make-a-right/
ESO: Background information: US Presidential executive act http://www.europeansources.info/record/us-presidential-executive-act/
ESO: Background information: Comments on future US Foreign and Trade Policies http://www.europeansources.info/record/comments-on-future-us-foreign-and-trade-policies/

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