US Trade Policy Shifts Under Trump's \"America Alone\" Strategy
US President Donald Trump’s renewed push to impose steep tariffs on Canadian and Mexican goods has drawn warnings from economists about potential global economic fragmentation. In a recent interview with CGTN, Xing Yuqing, an economics professor at Tokyo’s National Graduate Institute for Policy Studies, argued that Trump’s approach risks isolating America by leveraging its economic dominance to unilaterally reshape trade terms.
The High Cost of Going Solo
\"The US is the world’s largest economy, and Trump believes this gives him absolute leverage,\" said Xing. \"But alienating close allies like Canada and Mexico could destabilize supply chains and weaken America’s long-term geopolitical influence.\" Data from the World Trade Organization shows North American trade partnerships account for over $1.3 trillion annually.
Global Reactions and Future Implications
Analysts suggest the move may accelerate efforts by other G20 nations to diversify trade alliances, particularly in Asia and Europe. Meanwhile, businesses worldwide are bracing for potential price hikes on automobiles, electronics, and agricultural goods if tariffs take effect.
Reference(s):
cgtn.com
