US trade policy in the age of Trump: What role for Europe in the “New Nationalism”? EPC Commentary, 13 November 2017

Rashish, Peter S. (2017) US trade policy in the age of Trump: What role for Europe in the “New Nationalism”? EPC Commentary, 13 November 2017. [Policy Paper]

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Abstract

A year ago[1] the United States had just elected in Donald Trump a Republican president whose hostility to business-as-usual in trade policy helped propel him to victory over his Democratic rival, Hillary Clinton. In the new President’s view, the economic pillar of the liberal international order – the World Trade Organization (WTO) and trade agreements like the North American Free Trade Agreement (NAFTA) and the proposed Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) – was not a generator of US prosperity and a multiplier of its national interest. Rather, these institutions and agreements had sapped US manufacturing prowess, encroached on its sovereignty, and allowed countries like China to unfairly dominate world trade.

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