The election of Donald Trump as the next President of the United States (US) has rendered the future of world trade uncertain. Mr Trump has been an outspoken advocate of greater protectionism for longer than he has been in politics. He is convinced that the global-trade system has been set up to give the US, in particular, a bad deal. While he thinks that China has been the biggest offender in this respect, he has not been shy of accusing India and others of getting disproportionate benefits at the cost of the US, either. However, it is worth noting that Mr Trump's policies in his first term were somewhat milder than his rhetoric. Those that he did implement, such as tariffs on steel and an effective veto of dispute resolution at the World Trade Organization (WTO), were in fact implicitly carried on by his Democratic successor, President Joe Biden, as well.
This story is from the November 15, 2024 edition of Business Standard.
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This story is from the November 15, 2024 edition of Business Standard.
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