New trade tariffs and barriers imposed by US President Donald Trump could lead to greater global economic shocks and weaken the United States’ position on the international stage, Foreign Affairs magazine wrote.
The article pointed out: “Trump’s aggressive economic policies, even if they can induce other countries to make concessions, may undermine more US foreign policy goals, such as curbing China’s influence, while also exacerbating the global economic crisis and forcing other countries to seek ways to protect themselves from the next use of US power.”
The article said that the US’s measures to strengthen protective tariffs will provide opportunities for competitors. The trade agreement signed by the European Union with four South American countries in December formed one of the world’s largest economic zones. In addition, China is also continuing to increase its economic participation in the Western Hemisphere.
The EU is concerned that Trump may resume protectionist policies and fears that he will once again raise tariffs on EU products. Trump had planned to impose a 10% tariff on Chinese goods and signed an executive order requiring a 25% tariff on all goods from Mexico and Canada. In addition, the US leader also advocated that all NATO members should increase their defense spending to 5% of their GDP. He said: “They can all afford it.”
