Trump’s trade policy ‘doomed to fail’ – EU Commissioner for Trade

Donate

According to EU Commissioner for Trade Cecilia Malmstrom, The trade policy of US President Donald Trump is “doomed to fail.”

Trump's trade policy ‘doomed to fail’ – EU Commissioner for Trade

US President Donald Trump holds up an executive order withdrawing the US from the Trans-Pacific Partnership after signing it in the Oval Office of the White House in Washington, DC, January 23, 2017 (Photo: SN / APA / AFP / Saul Loeb)

The trade policy of US President Donald Trump is “doomed to fail,” EU Commissioner for Trade Cecilia Malmstrom said on Tuesday. At the same time, she stressed that the EU still maintains its commitment to open borders and economies.

“Those who in the 21st century think that we can become great again by rebuilding borders, re-imposing trade barriers, restricting people’s freedom to move, they are doomed to fail,” Malmstrom said.

The EU Commissioner for Trade noted that building of walls is not the right answer, and stressed that the EU’s success is based on its open societies.

According to Malmstrom, currently, there is no hope that the Transatlantic Trade and Investment Partnership, launched by former US President Barack Obama, would help US digital and service-based companies to enter the EU market.

“The election of Donald Trump seems likely to put our EU-US negotiations firmly in the freezer, at least for a while,” Malmstrom noted.

On Monday, Trump withdrew from the Trans-Pacific Partnership, which would have linked the US and Pacific Rim countries. The decision was considered as a marker of a more closed US trade policy.

Reportedly, the US President also intends to sign an order to eliminate the free trade agreement between the US, Canada and Mexico, known as the North American Free Trade Agreement (NAFTA).

Donate

SouthFront

Do you like this content? Consider helping us!

  • hhabana

    Yeah right. Let every poor bloke from Latin America into the United States and I will work for their welfare benefits. These people suffer from Fantasy Life Syndrome.

  • Robert Ferrin

    The EU was doomed from conception ,for the only clear winner would be Germany at the expense of the smaller countries, and now Germany is doomed from dreams of cheap labor from the refugees the EU is bankrupt and the soone its laid to rest the better..

    • Aurelian

      Donald should also tell these libtards they are now assuming the finance for the defence of europe.

      EU has 1 more generation at most to go, they have lost, islam has won donny is spot on to put american interests first

      • Robert Ferrin

        The horse has already left the barn why close the door now,with a 100,000,000 unemployed the stock market hitting new highs today, while the only thing propping it up was the auto industry and now the lay-offs are hitting them,its not the defense of Europe that’s raised so much hell with us as the 900 + bases we have around the world whose cost runs into the billions,and I rather doubt we even have one more generation as the economy gets ready to head south…

    • Bob

      EU was always a German-French project, as they were neighboring protagonists in three major wars – 1870/1914/1939 and idea was to curtail it post 1945. But as EU really rapidly expanded post 1989, it slowly became apparent German-French political and economic interests don’t always translate to those of of the various and disparate regions of Europe. Certainly the fact that Germany remain a US vassal on economic and foreign affairs issues contributes to the unfolding EU disharmony on raft of political and economic issues.
      One of more curious aspects of EU is that, without being hyperbolic, over time its agenda has begun to resemble that of the Nazi program for a united Europe; single common currency, dominant German central bank, German economic and political policy centralization, German stripping of peripheral Europeans financial assets (Greece was previously financially asset stripped by Nazi’s in 40’s) and an increasing Russo-phobia (German-US driven).
      Thatcher once said of EU – to roughly paraphrase – we (UK) would be chaining ourselves to the German destiny.

      • Robert Ferrin

        Well stated and its the truth..

  • Barba_Papa

    Thing is though, closing borders and trade tariffs have never really worked. If everybody closes off their borders, nobody can trade. They tried that in the 1930’s and it only served to make the Great Depression greater and longer. The trick is in finding the right balance between free trade and movement of persons and goods vs. protection of worker’s rights. We have to fix the bad without throwing out the good as well.

    • Nexusfast123

      Just drop the globalism crap and embrace free trade. They are not the same as the idiot in euroland would like you to believe.

    • Robert Ferrin

      Of course it has the best times the country ever saw was when the tariffs were in place and closing the border with Mexico would be a giant step in the right direction, as far as the 30’s were concerned it was not tariffs that caused the problems but political deals such as when FDR was running for re-election the congressman from Nevada who had investments in the silver mines talk FDR in to raising the ceiling on the price of silver which was what China’s currency was tied to, thus putting China into the depression and saw the exports to China drop from 30+% down into the teens thus putting more American worker into the street..

    • Bob

      Trade tariffs are used in west, just under different name – politically termed ‘sanctions’ – and are an economic weapon in constant use by western powers at any given moment. Noticeably, currently, to damage and limit the economic growth of Iran and Russia. Sanctions policy is simply a weaponized tariff policy – to restrict the economic activity of perceived non compliant competitor and damage their growth prospects by excluding them from access to the compliant bloc. The west uses tariffs all the time – just under different name and format to traditional assumptions.

      • 888mladen .

        Sanctions are an act of war. Where is a war there are casualties as well on both sides of the conflict. It’s all done by desire to take an advantage of others. And the laws of physics are still operating in international politics. The result of every action will be a reaction.

    • Ronald

      The US – Mexican border sees five thousand Mexicans a day bye pass customs , that is an unsustainable volume of illegal immigration . On the northern border with Canada there are two hundred a year , if that . The “Wall” is sadly a necessity or America will be in the hopeless situation of Europe .

      • Barba_Papa

        Oh, I don’t deny that the Mexican border wall is a good thing. Build that thing up, and then build it up some more, just to be sure. I meant closing borders across Europe. As the populists want to do. United we stand, divided we will fall.

        • Ronald

          The free movement of trade goods and people are two different items . Nations that are sovereign , inspect goods / or not by their own laws and requirements . Likewise individuals present their identification and are generally granted entrance , excepting those deemed ” unwanted or criminal” for any number of reasons. The European Union began as a trade block, and then moved into a political block , but without any democratic foundation .
          It is a nightmare now , as there is no mechanism to oust this un-elected government . As this EU is currently organized , it needs to fall , as there is no “United” at present . They waste massive funds just translating . Europe is trying to be just like “Daddy” USA , but with no common language or culture . It will not fly .

  • Daniel Castro

    “EU’s success is based on its open societies.”

    “EU’s success”

    LOL

  • Jon Ganji –

    USA makes a lot of cash via Global business… lets see how they do once they get closed out of international markets via trade barriers.. they work both ways…

  • 888mladen .

    Free fair trade != Free grab. However every nation has a right to protect Its economy and resources from those who want to plunder them.