Trade Agreements America

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Trade Agreements America

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US President Donald Trump has clearly broken with the trade policy of his predecessors. Under Trump, the United States withdrew from the Trans-Pacific Partnership (TPP); agreements with Mexico and Canada (NAFTA and USMCA) and South Korea (KORUS) have been renegotiated. The Trump administration has imposed tariffs on steel and aluminum, threatened tariffs on cars and launched a customs spiral with China. Washington has triggered a deep crisis within the World Trade Organization (WTO), with the Trump administration blocking the appointment of new members of the appeals body and the appointment of a new director general. President Trump wanted to bring jobs back to the United States. But its trade policy also harmed its own economy. Joe Biden has not solved the last four years and not all trade disputes are resolved overnight. Joe Biden will also want to prove that he defends American jobs, and his trade policy will also contain protectionist elements. But it will be more cautious in the application of tariffs and will try to close ranks with partners like the EU in its activities with China. Overall, a large majority of Americans now believe (according to a February 2019 Gallup poll) that international trade is good for the country. Overall, Republicans and Democrats have a relatively good part on this issue, but Democrats (79%) are more likely to believe that trade is an opportunity for economic growth than Republicans (70%). Until 2011, Republican supporters were even more positive than Democrats on trade. Opinion polls over the past four years do not indicate that Americans are very satisfied with Trump`s trade policy.

In 2018, only 31% of respondents said they expected positive effects from special tariffs. In 2019, Trump`s trade policy has been no better evaluated than his overall performance as president of the United States. The United States is a member of the World Trade Organization (WTO) and the Marrakesh Agreement establishing the World Trade Organization (WTO) contains rules for trade among the 154 members of the WTO. The United States and other WTO members are currently participating in the WTO negotiations on development in Doha and a strong and open Doha agreement on both goods and services would go a long way in managing the global economic crisis and restoring the role of trade in promoting economic growth and development. The business community was extremely critical of Trump`s tariffs. Farmers, in particular, who have suffered heavy losses due to Chinese reprisals, have repeatedly called for the removal of additional trade barriers. As Barack Obama`s vice president, Joe Biden was a strong advocate for the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) negotiations. As president, it is questionable whether he will take this thread and give a high priority to trade policy. It seems certain that he will not prioritize trade agreements, at least during the first period of his presidency. At the beginning of his presidency, he will instead focus on emergency measures for the national economy.


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