Trump's protectionism has historical precedent
By Dan Steinbock | China Daily | Updated: 2017-01-23 07:46
After his inauguration, US President Donald Trump has begun to reset the White House trade policies. But the consequences of his "America First" stance could be disastrous.
After his inauguration on Friday, Trump announced the United States will withdraw from the Trans-Pacific Partnership agreement and declared the North Atlantic Free Trade Agreement will be renegotiated. If Mexico and Canada refuse to renegotiate the trade deal, he has threatened to withdraw the US from NAFTA.
Trump has also promised to renegotiate or reject other US international commitments. And he has threatened to impose 35-45 percent tariffs on imports.
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