Trump pushes America First trade policy

Trump pushes America First trade policy
January 29 19:22 2017 Print This Article

One of President Donald Trump’s big issues throughout the primary and general elections was that America is at a competitive disadvantage in trade agreements. In 2015, America had an estimated $800 Billion trade deficit with other nations.

In his first days in office, Trump withdrew America from the Trans Pacific Partnership, which was never ratified by Congress. National Trade Council advisor Peter Navarro, an academic scholar and best-selling author on trade issues, suggests that shifting to bi-lateral trade agreements with individual countries will give America greater negotiating power.

Trump has also called for renegotiating the North American Free Trade Alliance (NAFTA) with Canada and Mexico. When the deal was authorized in 1993, America had trade surpluses with both countries. Currently, America runs a combined trade deficit exceeding $110 Billion with Canada and Mexico. Changing the terms of NAFTA will require approval by Congress.

In a recent Tweet, Trump remarked, “The U.S. can’t afford to lose millions and millions of jobs. I’m going to renegotiate our trade deals and look out for America’s best interests.”

Among the trade issues addressed by Navarro are foreign currency manipulation, taxes on American exports, commodities dumping and export subsidies. He will craft policies to level the playing field for American manufacturers.