Washington sources have stated that the general trend of global economics is towards freer trade, whatever the noise around protectionism. Meanwhile the latest World Trade Organization (WTO) statistical review revealed that trade restrictive measures had fallen to their lowest level since 2008. Accordingly a threatened increase in tariffs grabs headlines, but its economic effects will be at the margins given the fundamentals underpinning global trade flows.
Meanwhile America also lacks the type of unemployment safety net and skills retraining common across Europe so the effects of factory closures are starker. Further with such a toxic mix, President Trump with the crucial mid-term elections approaching is making a political argument to the voters of Pennsylvania.
Furthermore President Trump's policy is not just
America First, but America Decides and meanwhile he is attempting to show that
it will be for America to call the tune on trade, whatever the warnings from
Theresa May about her "deep concern" about protectionist moves.
According to sources free trade deals with the US with the UK for example
will be on America's terms. Moreover it was John Wayne who quoting the words of
John Mitchum said of America that "his pulse runs fast at the might of her
domain".
