When people in other countries talk about the United States these days, the conversation usually turns to the policies of the present administration. Even though President Trump has not put all his radical economic ideas in place, there are enough in place to let the world know that the United States is no longer a reliable trading partner on the world stage.
Trump has given The World Trade Organizations many sleepless nights over the last twelve months. He is pulling the plug on climate change policies as well as policies that do not serve his interests. The United States went from a loyal trading partner who took the good with the bad when it was the right thing to do, to a country that only accepts the good in a trade deal. In other words, the rest of the world owes Trump’s United States a favor. And Trump wants to collect what he thinks the world owes him.
No one expects Trump to start a trade war. His passive aggressiveness is obvious, however, and it is making the economic well-being in countries around the world vulnerable to political predators.
The United States set the global economic mood after World War II. Trump is throwing 72 years of global economic growth out the window, and many of the countries that support U.S. economic policies are on Trump’s chopping block too. Trump’s idea of making America Great Again comes at a high cost. The United States is losing friends and gaining economic enemies. Those enemies will hurt American consumers when the smoke from Trump’s economic shotgun approach starts to clear.