Thursday, 17 November 2016 08:55

Trade havoc under Trump?

Written by  Pam Tipa
Trade expert Stephen Jacobi. Trade expert Stephen Jacobi.

US president-elect Donald Trump has the powers, delegated by Congress, to wreak havoc on international trade, says trade expert Stephen Jacobi.

The question is “will he use them?” Jacobi asks.

“The impacts and choices for New Zealand under a Trump presidency are unclear at best,” says Jacobi, a former diplomat who is executive director of the NZ International Business Forum and also on the NZ China Council.

“In the short term, I find it hard to see a way through for the Trans Pacific Partnership (TPP) in the ‘lame duck’ session,” he says.

“Longer term, the issues behind TPP (market access, better trade rules, actions to promote investment and reducing the costs of doing business) will all need to be addressed.”

Going forward, it’s all about policy, people and the president himself, he says.

“On policies, what will be the approach to trade agreements and what will be the new normal in the US relationship with China?”

Jacobi says it remains to be seen whether Trump really will rip up the North American Free Trade Agreement (NAFTA) between US, Canada and Mexico.

“What about multilateral agreements like the WTO and the Paris Agreement on Climate Change? “On people, who will advise Trump on trade? Will the Republican establishment come back to serve in a Trump administration?

“On the president, how will his unpredictable and abrasive nature play into global policy?”

More like this

Important trade milestone

Agreement by 15 participants in the Regional Comprehensive Economic Partnership (RCEP) trade negotiations marks an important milestone.

Four more years, mate

The NZ/China Free Trade Agreement (FTA) upgrade has brought little joy to the dairy industry.

Featured

Get ready for the ‘now’ norm

Get prepared for a ‘Now Normal’ future, says Ian Proudfoot – Global Head of Agribusiness for KPMG – discussing the likely effects of COVID-19 in the months to come.

 

Northland farmers count the costs

Northland farmers are starting to count the cost of one of the most severe droughts to hit the region as the cost of feed and lower prices for stock are the order of the day.

Times will get better for deer sector

While the deer industry faces several challenges in the short term, there will be a strong rebound in New Zealand venison sales once global demand recovers.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Dirty water

The Hound understands that Federated Farmers has been cut out of the information loop, for the past year, on the…

Who’s paying?

Your canine crusader noticed a full-page ad recently run in a farming paper calling on meat companies SFF and Alliance…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter

Popular Reads