Please explain in detail
Analysis of Trump's trade polices and its impact on global business
Mr. Donald Trump had a promise in
his presidential campaign to make America great again. In the light
of it, Trump administration has formulated the trade policies. Till
now, the trump administration:
· has come out of Trans-Pacific partnership discussion
as it was considered disadvantageous for the USA.
· Has put extreme pressure upon the partner nations of
NAFTA such as Canada and Mexico to renegotiate the terms of trade
under NAFTA.
· Has put ban upon multi-billion Chinese products and
also faced the ban of US products in China in retaliation
· Ban of different products such as Steel from
Europe
· Strained trade relationship with excessive focus to
renegotiate the terms of trade that will now equally favor the
USA.
The Agenda of the Trump administration is to renegotiate the trade
terms with everyone in the world as past agreements were supposed
to be less profitable for the USA. Though, he forgot that USA
offered favorable trade terms to other nations, because other
nations accepted USA to be a global leader and gave strategic
advantage in terms of votes in UNO, participation in war and
support of USA in different global conflict. Though, Trump
neglected these aspects and hoped for the renegotiation. It caused
other nations to find other partners for export and import. It also
has the scope of create a vacuum at world trade, though it has not
yet happened. The extreme impact is the ban on Chinese imports to
the USA in different product categories, causing China to find some
other allies. So, loss of USA is the gain of others in world
trade.
Please explain in detail Analysis of Trump's trade polices and its impact on global business
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