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Tuesday October 20, 2020

Trump’s wars have left long-running damage and exacerbate the country’s trade deficit + video

the world Economie

Trump, who had focused his election campaign in 2016 on making his country the largest economic power in the world and pledged to transform global trade arrangements and reduce the country’s trade deficit, failed to fulfill his promises and even increased the trade deficit during his reign, dealing a long-term blow to the pluralistic economic system that forms the basis of Global trade according to analysts.

Analysts and economists have said that Trump’s trade policies have achieved few tangible gains for the US economy while undermining the multilateral trading system, which in turn has caused long-term alliances with disruption to trade partners and the latest in uncertainty..

Amid expectations that the US trade policy will maintain some protectionism and that confrontations with China will continue regardless of who wins in the elections, experts said that Trump succeeded in achieving his primary goal of reducing the trade deficit between his country and China, but imports from Canada and Mexico increased significantly, which is what Deepen the overall deficit.

They also pointed out what the tariffs imposed by the Washington administration on many products caused to raise production costs for American industries and to show the extent of dependence on Chinese suppliers.

The French Center for International Studies and Information considered that Trump is capable of destruction but is unable to build, while the analyzes unanimously agreed that the US President did not show much understanding of the sensitive and difficult multilateral trade negotiations, and that his policy was significantly harmful to Europe and the World Trade Organization, which will be difficult. Fix it.

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While it saw that the Trump administration’s statements and its random policy decisions prevented the United States from being trusted as a trading partner, which prompted certain countries to bypass the United States and conclude bilateral or multilateral trade agreements, similar to the countries in the Pacific region proceeding with an agreement after Trump announced the withdrawal His country from the Trans-Pacific Partnership Agreement.

For more, you have the attached video..

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