New rifts emerge as Trump administration rejects free trade statement at G-20 meeting

[DonViejo]

Source: The Washington Post


By Damian Paletta March 18 at 12:07 PM

BADEN-BADEN, Germany – The Trump administration on Saturday rejected a statement from other leading economies that warned against the perils of trade protectionism, the latest sign of how the administration’s more combative approach to diplomacy could create rifts with U.S. allies and leave traditional partners in the dark about the direction of U.S. policy.

Treasury Secretary Steven Mnuchin, appearing at a gathering of economic ministers and central bankers from the 20 largest economists, rebuffed multiple entreaties from German officials to include in the meeting’s joint statement language stressing the importance of free trade and that it should be conducted in a “rules based” manner, following existing standards and agreements.

By rejecting language that would have said the U.S. is opposed to protectionism, the White House sent a clear signal that it would not accept existing trade norms and could pursue a more antagonistic approach with trading partners around the world. Such language has been considered ordinary and uncontroversial in recent G-20 meetings.

“I understand what the president’s desire is and his policies and I negotiated them from here, and we couldn’t be happier with the outcome,” Mnuchin said at a press conference Saturday.

Read more: https://www.washingtonpost.com/business/economy/new-rifts-emerge-as-trump-rejects-free-trade-statement-at-g20-meeting/2017/03/18/aa69b1a2-0bf3-11e7-a15f-a58d4a988474_story.html?pushid=58cd644d3a93043c00000017&tid=notifi_push_breaking-news&utm_term=.c

[JHan]

1. a repeat of History. Republicans have* taken us down this path before.

[beachbum bob]

2. US no longer the single source of anything and american citizens and businesses would suffer in

any trade war..but conservatives dont care....

[yallerdawg]

3. Someone wants to break up the EU and NATO.

Who could it be?

[bronxiteforever]

4. +1000

[ananda]

11. Can we see him from Palin's house?

[BumRushDaShow]

15. Usually when he rears his head

[bronxiteforever]

5. 45 & the gopers are destroying the US in ways that can't be undone

Last edited Sat Mar 18, 2017, 03:09 PM - Edit history (2)

Bannon is a drunk arsonist with a torch inside a bomb factory

[MBS]

13. " " " " n/t

[lies]

6. Frankly

Europe and Asia won't put up with this behavior forever. Nor should they.

At some point the US is going to be isolated, and that will make a LOT of citizens in other countries happy.

[TeamPooka]

7. Exactly what Putin would have them do.

[bucolic_frolic]

8. If you need specialty items from overseas, now is the time to buy

before tariffs, restrictions, embargoes, trade wars

I'm thinking spare parts, technology, anything without suitable US-made substitutes

[logosoco]

9. I am not an economist by any means, but I am thinking

this means higher prices for Americans.

Add this to the higher food prices we will be seeing because of the fear of migrant workers, plus the probable increase in health insurance premiums and I would say that this administration has royally screwed America. Especially many of those who voted for this idiot.

[Blue Idaho]

10. Odd Man Out...

Instead of charting a new direction for the world - Steve and his boss are going to get us excluded from international economic agreements. Trump is going to make Brexit look like minor bump in the road campared to the economic catastrophe he is bringing to our shores.

[MBS]

12. yeah, my feeling, too.

[briv1016]

14. So I guess this next recession is a delayed reaction to Obama policies.

But last month's jobs report is all Donald.

[Solly Mack]

16. K&R

smh

[Little Tich]

17. Seems like the G20 could become the G19. n/t

[xxqqqzme]

18. Hang on, just a minute.

I thought tRump was the 'great' negotiator. Why wasn't he using his sterling skills in this economic forum? I thought this was his 'thing'.

[hollowdweller]

19. Free trade will not be a winning issue for Democrats

I think it's more popular in areas that have not lost large numbers of jobs and benefit from it, like farm country and both coasts.

However the reason we lost was we lost several states we used to win were heavily hurt by outsourcing.

I don't think that what Trump is doing is the way to go about it. Withdrawing from the world won't help, esp when we need their cooperation. However I think we need to be VERY careful how we handle this issue and if we are the free traders and Trump is the protectionist he will win states the next time too that used to go for us.

We need to have some sort of a strategy that protects US workers but that doesn't either alienate our friends or cause rampant inflation.

Free trade has helped the US but it has not helped the average american worker in many parts of the country. Had we worried as much about the lost jobs in the Rust Belt as we had sucking up to the big money donors that benefit from these people losing their jobs , we wouldn't have large numbers against it and we wouldn't have Trump.

[justgamma]

20. When did the Cons

change from being free traders to advocating for protectionism? I remember in the 90's when they were all yelling about the Dems being protectionists and they were the free traders. They make my head spin.