In his single-minded quest to reduce US bilateral deficits with key trading partners, President Donald Trump has adopted a strategy that promises to make America's economic "adversaries" even more competitive in the future. Worse, he is alienating America's friends just when it needs them most.
WASHINGTON, DC – US President Donald Trump’s “trade war” with China has been slogging along for more than a year now, and could escalate further if current talks do not lead to a deal. But in the meantime, the Trump administration has also accused two longstanding US partners, Turkey and India, of benefiting unfairly from the US Generalized System of Preferences (GSP) for developing countries. Having already erected trade barriers against Turkey last year, the US will now revoke the preferential treatment afforded to certain Turkish and Indian imports under the program.
WASHINGTON, DC – US President Donald Trump’s “trade war” with China has been slogging along for more than a year now, and could escalate further if current talks do not lead to a deal. But in the meantime, the Trump administration has also accused two longstanding US partners, Turkey and India, of benefiting unfairly from the US Generalized System of Preferences (GSP) for developing countries. Having already erected trade barriers against Turkey last year, the US will now revoke the preferential treatment afforded to certain Turkish and Indian imports under the program.