Financial Times: Trump Demands End to Asia’s “Chronic Trade Abuses”

In addressing the Asia Pacific Economic Cooperation summit in Vietnam, Donald Trump said the United States would not tolerate chronic trade abuses and he urged fair and reciprocal economic relationships. The talk came after his visit to China, the country that has the biggest trade deficit with the United States. Yet the presidents of both countries flattered each other, and Trump said he did not blame China. “During visits to Japan, South Korea and China earlier in the week, Mr Trump touted the importance of the ‘Indo-Pacific’ as his administration tries to engineer a new strategy for Asia,” report Demetri Sevastopulo and John Reed. “His speech to Apec, however, was more laden with the kind of tough talk he employed during the election campaign than a recipe for creating stronger bonds in the region.” The United States has abandoned promotion of democratic values or human rights, and Trump said he expects all countries to put their own interests first. He also seems to prefer bilateral agreements over multilateral trade agreements like the Trans-Pacific Partnership, with negotiations continuing without the United States. The sentiment against big trade agreements overlooks the potential for massive job creation and influence, despite deficits in trade. Trump also criticized the World Trade Organization. The president's “America first” rhetoric forces small developing nations to weigh concerns on trade and security and could nudge many twoard China as Asia’s largest economy. – YaleGlobal