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Also see: NAFTA; tariffs;
Jump to: 2016; 2017; 2018; 2019;
2020;
Undated: Free trade is a policy followed by
some international markets in which countries' governments do not restrict
imports from, or exports to, other countries.
https://en.wikipedia.org/wiki/Free_trade
Undated: Free
trade is
international trade left to its natural course without
tariffs, quotas, or other restrictions.
https://en.oxforddictionaries.com/definition/free_trade
-- 2016 --
July 25: [Trump] is unequivocal
on his position: He would renegotiate NAFTA and impose a 35% tariff, a tax
on imports, from Mexico. Or, he'd rip up the trade agreement entirely.
With
China, Trump says he would impose a 45% tariff on Chinese imports.
https://www.usatoday.com/story/news/world/2016/07/25/donald-trump-trade-policies-china-mexico/87521852/
November 16: During his campaign Trump vowed
to secure U.S. energy independence from “our foes and the oil cartels,” while
also creating “complete American energy independence."
However, on Wednesday, Saudi Arabia's oil minister fired back. Khalid Al-Falih,
also the chairman of Aramco, said in an
interview that “at his heart President-elect Trump will see the benefits [of
Saudi oil imports] and I think the oil industry will also be advising him
accordingly that blocking trade in any product is not healthy.”
https://www.forbes.com/sites/timdaiss/2016/11/16/no-saudi-oil-says-trump-saudi-arabia-fires-back/#3e6a601620fe
-- 2017 --
January 6:
According to the
World Trade Organization (WTO) website,
based on 2014 data, the U.S. has an average applied tariff of 3.51 percent for
all products being imported from other WTO members (known as the most-favored
nation, or MFN, tariff). This is the maximum tariff that the U.S. promises to
impose on imports from other WTO members, averaged across all industries. For
other nations that the U.S. has a free-trade agreement, such as Canada and
Mexico through NAFTA, tariffs are typically lower and in some cases, zero. Mr.
Trump is basically advocating for a tenfold increase in the average import
tariffs that are already in place. [As of 2017, no WTO member is imposing import
tariffs that are anything near 35 percent] ...
https://www.brookings.edu/blog/up-front/2017/01/06/trumps-trade-policy-protecting-american-workers-at-the-expense-of-american-consumers/
January 25: Will Donald Trump mean the end
of global trade?
For decades there has been a consensus that globalisation brought more jobs,
higher wages and lower prices - not just for richer countries but also for
developing and poorer nations.
But there is now a growing movement of anger as people see jobs being taken by
machines, old industries disappearing and waves of migration disturbing the
established order.
Global trade flows are falling and trade deals are being ripped up.
The new US President Donald Trump has threatened to impose tariffs of up to 45%
on Chinese goods, accusing the country of economically "raping" the US.
http://www.bbc.com/news/business-38731812
February 7: GOP Plan to Overhaul Tax Code
Gets Held Up at the Border ...
Linchpin of potential legislation is a concept known as ‘border adjustment,’
which is splitting the business world into competing camps
https://www.wsj.com/articles/gop-plan-to-overhaul-tax-code-gets-held-up-at-the-border-1486485339
March 18: The world's biggest economies have dropped a long-standing public
endorsement of free trade at their first meeting with the Trump administration.
http://money.cnn.com/2017/03/18/news/economy/g20-trade-protectionism-trump-germany/index.html
March 24: The Trump administration is
preparing new executive orders to re-examine all 14 U.S. free trade agreements
and review government procurement policies to aid American companies, two
administration officials said.
http://fortune.com/2017/03/24/trump-executive-order-trade-deal/
April 26: President Donald Trump told the leaders of Canada and Mexico
Wednesday he was not immediately planning to end the North American Free Trade
Agreement, a pact which he railed against as a candidate and as recently as
last week declared was harmful to US workers.
... Trump's decision
to remain in NAFTA came the same day a senior administration official revealed
the White House was considering an executive order to withdraw from the trade
accord.
http://www.cnn.com/2017/04/26/politics/trump-nafta/index.html?adkey=bn
April 29: President Trump [is] directing a
review of U.S. involvement in NAFTA and other free trade agreements and creating
a permanent trade policy office at the White House.
https://www.usatoday.com/story/news/politics/2017/04/29/100-days-trump-order-review-free-trade-agreements-commerce/101066150/
July 7: The growing international isolation
of the United States under President Trump was starkly apparent Friday as the
leaders of major world economies mounted a nearly united opposition front
against Washington on issues ranging from climate to free trade [with] tough
clashes with the United States and even talk of a possible transatlantic trade
war
https://www.washingtonpost.com/world/at-g-20-eu-warns-of-trade-war-if-trump-imposes-restrictions-on-steel/2017/07/07/0ffae390-62f4-11e7-a6c7-f769fa1d5691_story.html?utm_term=.8aecd639d467
July 10:
Europe and Japan secure landmark deal that seemed a long shot before US
president’s election.
July 27:
The
Trump administration and congressional Republican leaders have ditched a
controversial border-adjusted tax proposal as part of an effort to present a
united front for a broad tax overhaul.
http://www.latimes.com/business/la-fi-tax-reform-border-20170727-story.html
September 2: President Trump has instructed
advisers to prepare to withdraw the United States from a free-trade agreement
with South Korea, several people close to the process said, a move that would
stoke economic tensions with the U.S. ally as both countries confront a crisis
over North Korea’s nuclear weapons program [a move opposed by top aides]
https://www.washingtonpost.com/news/wonk/wp/2017/09/02/trump-plans-withdrawal-from-south-korea-trade-deal/?utm_term=.5f66233b01a5
September 5: ... congressional leaders
overseeing trade are calling on the
White House to pursue further discussions instead of pulling out of a pact
with an important economic and geopolitical partner [South Korea], particularly
at a time of heightened tensions in the Korean peninsula.
http://www.latimes.com/business/la-fi-south-korea-trade-agreement-20170905-story.html
October 3: Trade tensions between the North
American neighbors have escalated in recent months, with
spats over jet planes, timber and dairy. President Trump, meanwhile, has
thrown into doubt the future of NAFTA, the free trade deal that links the
two countries and Mexico.
In
a filing with the World Trade Organization --
made public on Monday -- the U.S. accuses Canada of unfair restrictions on
the sale of foreign wine in British Columbia, Canada's westernmost province and
a big wine-producing region.
http://money.cnn.com/2017/10/03/news/economy/us-canada-wine-trade/index.html
November 3: Trade Policy Under President
Trump: Implications for the US and the World
If a new trade policy framework can be developed, Trump’s presidency could offer
a chance to move the debate forward and actually strengthen global trade by
addressing some genuine shortcomings within the current system.
https://www.chathamhouse.org/publication/trade-policy-under-president-trump-implications-us-and-world?gclid=EAIaIQobChMI_oL7w_bC2QIVRrbACh1jDALtEAAYASAAEgLAqPD_BwE
November 17: Republicans’ beliefs are
bending to Trump. Here’s why they might not even notice.
We don’t often remember when we change our minds.
https://www.vox.com/science-and-health/2017/11/17/16585982/psychology-memory-polls-trump
November 28: Free Trade Agreement Pros and Cons
https://www.thebalance.com/free-trade-agreement-pros-and-cons-3305845
December 29: Why Did Donald Trump Kill This
Big Free Trade Deal? ... one of Trump’s “America First” policies is the
withdrawal from the Trans-Pacific Partnership (TPP).
TPP is a free trade agreement by 12 nations that have coastlines on the Pacific.
800 million people live in these countries, and they make up 40 percent of the
world’s GDP. Japan, Vietnam, Malaysia, Singapore and Brunei (who are the key
players of the South China Sea dispute) have signed this deal.
Many believe that Trump’s withdrawal from the TPP can benefit both the U.S. and
China, because both the S&P 500 and the Shanghai Composite Index reacted
positively once the U.S. had pulled out.
Former president Barack Obama and other TPP supporters believed that this deal
could have helped the United States increase its influence over Asia-Pacific
while countering China’s growth in power.
https://www.forbes.com/sites/peterpham/2017/12/29/why-did-donald-trump-kill-this-big-free-trade-deal/#1e0e8ec4e627
-- 2018 --
January 9:
Trump-Loving
Farmers Let Him Know That They Love Free Trade Too
They loved President Donald Trump at the
American Farm Bureau Federation convention in Nashville, cheering during his
speech and praising his policies. Well, most of them.
https://www.bloomberg.com/news/articles/2018-01-09/trump-loving-farmers-let-him-know-that-they-also-love-free-trade
January 11: Trump is trying to dismantle
free trade.
That’s almost impossible.
https://www.washingtonpost.com/opinions/trump-is-trying-to-destroy-free-trade-thats-almost-impossible/2018/01/11/18a1fa8a-f578-11e7-b34a-b85626af34ef_story.html?utm_term=.310472192091
January 15: America Last? EU says Trump is
losing on trade
https://www.reuters.com/article/us-eu-trade/america-last-eu-says-trump-is-losing-on-trade-idUSKBN1F425S
January 22: Trump gets a lot wrong about
free trade, but so do most people
A trade deficit doesn’t make an economy smaller than it would be without one,
nor does a trade surplus make it larger. This is such a common mistake that we
see it in newspaper reports about trade figures all the time. Things like “a
larger trade deficit was a drag on GDP” and so on, something which is just flat
out untrue.
Economists really are right about this: Trade deficits just don’t really matter.
And we’d have better economic and trade policy if people understood this simple
point.
http://www.washingtonexaminer.com/trump-gets-a-lot-wrong-about-free-trade-but-so-do-most-people/article/2646718
January 23: The world is pressing ahead with
big multilateral free trade deals despite opposition from President Trump.
The
Trans-Pacific Partnership (TPP) deal that Trump ditched in January 2017 has
been revived by the remaining 11 nations, who will work towards signing it in
early March.
Japan, Canada, Mexico, Australia, Singapore and the other nations wrapped up
negotiations on the deal after two days of talks in Tokyo.
"The agreement reached in Tokyo today is the right deal," Canadian Prime
Minister Justin Trudeau said at the World Economic Forum in Davos, Switzerland.
"Today is a great day for Canada, but it's also a great day for progressive
trade around the world."
The revised deal is called the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP).
http://money.cnn.com/2018/01/23/news/economy/trade-deal-tpp-agreement/index.html
January 24: Trump’s America First Policy Is
Still ‘Absolutely’ Committed to Free Trade, Treasury Secretary Says
http://www.newsweek.com/trump-america-first-trade-treasury-789548
January 24:
China Piles Up Free Trade
Deals as Trump Abandons Them
Just as the U.S. throws up new barriers to
cross-border commerce, its largest trading partner China is redoubling its
efforts to seal free-trade agreements.
From deals with blocs including the Association of Southeast Asian Nations to
bilaterals with tiny countries like Maldives, China’s FTAs already cover
21 countries. That compares with the
20 countries covered by U.S. agreements. More than a dozen additional pacts
are being negotiated or studied, according to the Ministry of Commerce.
While President Donald Trump this week imposed
tariffs on solar panels and washing machines, underscoring his America first
outlook, China is hoping for a "bumper year" for new trade deals, according to
the Commerce Ministry.
https://www.bloomberg.com/news/articles/2018-01-24/china-wants-to-rack-up-free-trade-deals-as-trump-tramples-them
January 25: Yes, Trump’s Against Free Trade.
That Doesn’t Mean He’s For Good Jobs.
What would a progressive alternative to the TPP and NAFTA actually entail?
https://www.thenation.com/article/yes-trumps-against-free-trade-that-doesnt-mean-hes-for-good-jobs/
January 26: The UK must lead on free trade
with Trump in the White House
http://brexitcentral.com/uk-lead-free-trade-trump/
January 27: Trump seeing the light on free
trade? Perhaps
http://www.france24.com/en/20180127-trump-seeing-light-free-trade-perhaps
January 28: 'We are all Davos men now': Free
trade triumphs despite Trump's trade tantrums
https://www.smh.com.au/world/we-are-all-davos-men-now-free-trade-triumphs-despite-trumps-trade-tantrums-20180127-h0p4xb.html
February:
Trump Administration Sends Annual Trade Agenda Report to Congress
https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/february/trump-administration-sends-annual
February 20: The Trump administration is
moving toward scoring an “own goal” on the American economy with its current
trade strategy in Asia. Just as when one scores a goal for an opponent in
soccer, an “own goal” in international trade occurs when a country takes actions
that harm itself and advantage its competitors.
The focus of the Trump administration’s trade agenda in Asia has been on
negotiating bilateral free trade agreements, securing greater balance in trade
with China, and renegotiating the U.S.-Republic of Korea (KORUS) free trade
agreement. So far, the record is negative and trending worse.
https://www.brookings.edu/blog/order-from-chaos/2018/02/20/time-to-rethink-u-s-trade-strategy-in-asia/
February 22: Australian Trade Hangs in the
Balance as Turnbull Meets Trump
https://worldview.stratfor.com/article/australian-trade-hangs-balance-turnbull-meets-trump
February 23: Free trade groups write open
letter to Trump condemning steel import tariffs ... Six free trade advocacy
groups wrote an
open letter to President Donald Trump on Thursday urging him not to impose
tariffs on steel and aluminum imports from overseas.
The groups, who favor limited government and free enterprise and swing to the
right on economic issues, called the economic case for the recently proposed
import restrictions "weak" and warned that, rather than help protect American
jobs, it would significantly hurt them.
https://www.cnbc.com/2018/02/23/free-trade-groups-condemn-steel-import-tariffs-in-letter-to-trump.html
February 22: Trump’s war on NAFTA is already
taking a heavy toll on U.S. farmers
As Mexico begins to look for imports elsewhere, working families suffer.
https://thinkprogress.org/nafta-fallout-trump-caab3aeab96b/
February 23: Trump Says U.S. Re-Entering
Pacific Trade Deal a ‘Possibility’
https://finance.yahoo.com/news/trump-says-u-entering-pacific-194420973.html
August 27: The United States and Mexico have
reached a preliminary agreement resolving key bilateral trade issues.
Under the current law, about 62% of the
parts in any car sold in North America must be produced in the region or
automakers have to pay import taxes.
The agreement between the two countries could restart negotiations on NAFTA with
all three parties -- the United States, Mexico and Canada.
In May, the United States imposed
steep tariffs on steel and aluminum from much of the world, including
Mexico. In response, Mexico
slapped tariffs on $3 billion of US goods, including steel, pork, apples,
potatoes, bourbon and different types of cheese.
Canada imposed tariffs on $12.5 billion of US goods, including steel,
toffee, maple syrup, coffee beans and strawberry jam.
https://www.cnn.com/2018/08/27/politics/mexico-us-trade-deal/index.html
August 27: Canada said ... it would only
sign a new NAFTA if it benefited the country and its middle class, despite
showing optimism for progress the U.S. and Mexico made on a bilateral agreement
of their own.
https://www.foxbusiness.com/economy/us-mexico-reach-new-trade-agreement
August 27: U.S. and Mexican negotiators
worked through the day Sunday to conclude their talks, which focus primarily on
autos that will be accepted without tariffs in the United States. The agreement
provides that 85 percent of the parts in the car must be made in North America
to be considered for tariff-free imports.
Trump had demanded a rewrite of NAFTA, claiming that Mexico was stealing jobs
and taking advantage of the previous NAFTA agreement, citing the fact that
Mexico enjoyed a $63.6 billion trade surplus with the United States in 2017.
Critics pointed out that much of that surplus came from cars that were assembled
from parts made in the U.S. and Canada, but the total car price was included in
the bilateral Mexican-U.S. trade figures.
By requiring higher content made in the U.S. and Canada, the new trade deal may
fractionally increase employment in the U.S., but most of these factory jobs
have now been taken over by robots.
https://www.forbes.com/sites/charleswallace1/2018/08/27/trump-secures-a-trade-deal-with-mexico/#4d4beee37806
August 27: To hear President Donald Trump
tell it on Monday, the
United States is abandoning the NAFTA free trade deal between the US, Canada
and Mexico in favor of a bilateral agreement between the US and Mexico. And
possibly a second bilateral deal with Canada.
But none of that is happening.
There is no formal free trade deal between the US and Mexico, only an agreement
between the two countries on how to resolve key issues in their trade
relationship as part of the NAFTA talks. The US trade representative's office
officially described the agreement as "a preliminary agreement in principle ...
to update the 24-year-old NAFTA with modern provisions representing a 21st
century."
https://www.cnn.com/2018/08/27/politics/trump-nafta-deal/index.html
October 3:
Free-trade groups urge Trump to drop tariffs on Canada, Mexico
https://www.washingtontimes.com/news/2018/oct/3/free-trade-groups-urge-trump-drop-tariffs-canada-a/?utm_source=GOOGLE&utm_medium=cpc&utm_id=chacka&utm_campaign=TWT+-+DSA&gclid=EAIaIQobChMIxZDf86eH3wIV9x6tBh1aCwF3EAMYAyAAEgL8QvD_BwE
October 19:
Angela Merkel defies Trump, defends free trade at EU-Asia meeting
German Chancellor Angela Merkel has rebuked the "America First" approach to free
trade of US President Donald Trump. Meeting in Brussels, European and Asian
leaders have pledged to create "win-win" situations.
https://www.dw.com/en/angela-merkel-defies-trump-defends-free-trade-at-eu-asia-meeting/a-45956338
November 27: BMW Still Preaches Free Trade
as Trump Tariff Threat Lingers
https://www.bloomberg.com/news/articles/2018-11-27/bmw-keeps-preaching-free-trade-as-trump-tariff-threat-lingers
November 30:
USMCA: Trump Signs New Trade Agreement With Mexico And Canada To Replace NAFTA
https://www.npr.org/2018/11/30/672150010/usmca-trump-signs-new-trade-agreement-with-mexico-and-canada
December 1:
How Trump
is rewriting Bush’s trade legacy
Bush expanded free trade. Now Trump is shrinking it.
Late President George H.W. Bush leaves behind an extensive and long-lasting
trade legacy, from NAFTA to initial deals with China, much of which has been
under attack by President Donald Trump.
Coincidentally, Bush, who
negotiated the original North American Free Trade Agreement over 25 years
ago, died on the same day that Trump signed the deal to replace it.
https://www.politico.com/story/2018/12/01/george-hw-bush-donald-trump-nafta-trade-1006041
December 3:
Donald Trump v the world: US tariffs in four charts
Donald Trump has agreed not to escalate his trade war with China, but many other
countries have also been affected by the US president's America First trade
policy.
From Spanish olives to Canadian steel, no corner of the world has been untouched
by US trade tariffs - a tax on foreign products - since President Trump entered
the White House.
Along the way, he has rewritten the rule book for how the US goes about the
process of protecting its domestic trade.
https://www.bbc.com/news/world-us-canada-45415861
December 4:
He Said, Xi Said: U.S., China Have Different Recollections Of
Trump-Xi Trade Talks
“China has agreed to reduce and remove tariffs on cars coming into China from
the U.S. Currently the tariff is 40%,” his tweet said.
It’s doubtful that Xi agreed to any such thing, because World Trade Organization
rules forbid a country from imposing differential tariffs. If China eliminated
its tariffs on American cars, it would have to eliminate its tariffs on all
other countries’ cars. Trump and Kudlow apparently don’t know this. But
Japanese, Korean and German car companies know it and would be thrilled to have
duty-free access to the Chinese car market.
The Chinese Foreign Ministry said on Monday that the two governments had agreed
to talk further about reducing all tariffs, and about other trade issues, but
said nothing about any agreement to reduce car tariffs uniquely.
https://www.forbes.com/sites/johnbrinkley/2018/12/04/he-said-xi-said-u-s-china-have-different-recollections-of-trump-xi-trade-talks/#269e19862a2b
December 4:
Rep.
Steny Hoyer, D-Md., the second-most senior Democrat in the House of
Representatives, said Tuesday that President Trump should not tear up the North
American Free Trade Agreement as promised if Congress does not approve the
revised trade agreement the administration negotiated with Canada and Mexico.
“In my view that would be a big mistake, very disruptive of the economy,” said
Hoyer at the Wall Street Journal CEO Council conference in Washington, D.C.
Trump has suggested he could halt the landmark free trade agreement and restore
tariffs that were ended by NAFTA if Congress doesn’t approve his new agreement.
https://www.washingtonexaminer.com/policy/economy/top-democrat-big-mistake-for-trump-to-tear-up-nafta
-- 2019 --
-- 2020 --
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