Opinion: Trump trade policy shows positive results
EDITOR'S NOTE: Boris Epshteyn formerly served as a Senior Advisor to the Trump Campaign and served in the White House as Special Assistant to The President and Assistant Communications Director for Surrogate Operations.
WASHINGTON (Sinclair Broadcast Group) - America first. That has been President Trump’s slogan since the campaign and continues to be the mantra of the administration when it comes to international trade.
What does an “America First” trade policy mean?
It means fair trade, smart trade, taking a hard line with our trading partners, including our closest allies.
In fact, just this week President Trump echoed this approach in his meeting with President Macron of France:
“We must also confront unfair trade practices that hurt our workers and pursue trade deals that are reciprocal and fair,” Trump said during a news conference while visiting the country.
At times these aggressive trade policies have drawn criticism, including from some world leaders. Having said that, a new report, recently released by the Centre for Economic Policy Research, reveals that those policies are producing results in the United States’ favor.
Remember the president’s meetings last week at the G20 summit in Germany? He met with our biggest trade partners.
Well, those same countries have imposed 29 percent fewer tariffs, duties and quotas against U.S. businesses so far this year than in this same period last year.
The report’s authors believe this may be caused by the G20 countries being apprehensive of “economic retaliation” by the Trump administration.
President Trump has continued to take a hard stance on trade. He has increased tariffs, duties and quotas against the other G20 countries by more than double the average number implemented during comparable periods of President Obama’s second term.
As the Trump presidency moves forward, expect to see tough trade positions taken on such vital industries as steel and aluminum.
International trade is a topic which hits home for all Americans. A strong U.S. position on trade translates into more good-paying jobs and higher income here at home. That’s your bottom line.