What is it about?
As at January 2017, no one knew what to expect from the incoming Trump administration – more importantly in respect of trade and global relations. Some indicators which had already been provided in respect of what could be expected focused primarily on matters such as the Paris Global Agreement on Climate Change, the Trans Pacific Partnership Agreement, NAFTA – as well as greater focus on domestic policy matters – in fulfilment of the campaign promise to “Keep America First”. In respect of national defense and security, there were concerns relating to tensions between Iran, North Korea – as well as possible alienation of NATO partners…… Further, it had been expected that there would be a shift in trading policy stances – particularly to a more protectionist nature – and naturally, that these would impact its major trading allies; namely China, Mexico, Canada and the European Union.
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Why is it important?
The impact of trade relations on global financial stability has never been more evident as is the case and impact of ongoing trade wars, currency wars on global financial markets and global financial stability.
Perspectives
Despite current financial market turmoils and global market volatility, it does appear that the Trump administration will find a common ground with major trading partners and eventually reach a consensus which may even align itself with the expectations of a majority (including an unexpected majority). So far, the administration, despite difficult and challenging times (including government shut-downs, and threats of impeachment proceeding), has managed to weather many storms. Everything however - also boils down to the state of the economy - on a short term - and even more importantly, a longer term basis.
Prof Marianne Ojo
Northwestern University
Read the Original
This page is a summary of: Free Trade and Global Climate Agreements, IGI Global,
DOI: 10.4018/978-1-5225-4131-8.ch008.
You can read the full text:
Resources
Paris Agreement: Impacting Economic Consequences and Legacy of Future Generation
Paris Agreement: Impacting Economic Consequences and Legacy of Future Generation, U.S- China Focus
Obama’s Legacy: US-China Relations and the 2016 U.S Presidential Results
Obama’s Legacy: US-China Relations and the 2016 U.S Presidential Results Oct 07 , 2016
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