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

Own goal

OPINION: The irony of President Trump’s tariff obsession is that the worst damage may be done to his own people.

Featured

Farmers urged not to be complacent about TB

New Zealand's TBfree programme has made great progress in reducing the impact of the disease on livestock herds, but there’s still a long way to go, according to Beef+Lamb NZ.

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

National

Machinery & Products

Farmer-led group buys Novag

While the name and technology remain unchanged and new machines will continue to carry the Novag name, all the assets,…

Buhler name to go

Shareholders at a special meeting have approved a proposed deal that will see Buhler Industries, the publicly traded Versatile and…

» Latest Print Issues Online

The Hound

Make it 1000%!

OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of…

Own goal

OPINION: The irony of President Trump’s tariff obsession is that the worst damage may be done to his own people.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter