It begins. Canada appears to start trade diversification.
Well, it feels a little long in the making for some Canadian's it seems. But it looks like even Canada is jumping on the bandwagon.
How quickly we get results and how big or small those are remains to be seen. But, it is quite telling indeed. I'm not sure the US has any trading partners left that would even feel comfortable going back to the way things were.
My honest opinion; the markets, investors and the likes? They are all underestimating this. Which is good in it's own way, because it provides SOME stability. But, it will hit home in the end. The US became, economically, as powerful as it is because a bit of good luck and timing which gave them a comparatively rich country early on and then they continued to trade in good faith with the rest of the world for decades. That allowed other countries to view the US as a safe bet. A country which, if they could get the business there, they would have no need/reason to plan contingencies.
This move has undermined that. I don't think that even a change in tone or president now would alter that fact. The world has seen it. There is no guarantee any longer. This means that the US is just as volatile as any other nation. In fact, it may even be seen as MORE volatile.
Understand, all of these countries now working to diversify their trade. These aren't short term goals. The people engaging in these know that they may not bear fruit until well after Trump leaves office. Perhaps long after these sentiments are dwindled. It isn't just establishing the trade agreements, it is also promoting them in such a way to move businesses elsewhere.
In short, these countries aren't reacting to Trump. They are reacting to a change in how they view America as a trade partner. They view them as a threat, or at least as a wild card.
I said this before, everything would be different if Trump had targeted trade partners one at a time. Even if other countries saw malice in the moves, the US likely would have succeeded unequivocally and could then have forced successive countries into submission. Each win would make them stronger.
Attacking so many trade partners at once though? That just opens doors. Countries which might have turned down certain trade stipulations with another country may have only been doing so in the past because they felt confident in their trade with the US. Or, they may know see a greater need to diversify themselves. Or, even worse, it may be two countries now working together to actively undermine America's trade power.
There are seemingly infinite more reasons now for any two other countries to be more open to better trade deals.
Again, I'm not sure how much or how fast. But the WORLD is reducing it's dependence upon the US. And this WILL decrease the power of their economy.
How quickly we get results and how big or small those are remains to be seen. But, it is quite telling indeed. I'm not sure the US has any trading partners left that would even feel comfortable going back to the way things were.
My honest opinion; the markets, investors and the likes? They are all underestimating this. Which is good in it's own way, because it provides SOME stability. But, it will hit home in the end. The US became, economically, as powerful as it is because a bit of good luck and timing which gave them a comparatively rich country early on and then they continued to trade in good faith with the rest of the world for decades. That allowed other countries to view the US as a safe bet. A country which, if they could get the business there, they would have no need/reason to plan contingencies.
This move has undermined that. I don't think that even a change in tone or president now would alter that fact. The world has seen it. There is no guarantee any longer. This means that the US is just as volatile as any other nation. In fact, it may even be seen as MORE volatile.
Understand, all of these countries now working to diversify their trade. These aren't short term goals. The people engaging in these know that they may not bear fruit until well after Trump leaves office. Perhaps long after these sentiments are dwindled. It isn't just establishing the trade agreements, it is also promoting them in such a way to move businesses elsewhere.
In short, these countries aren't reacting to Trump. They are reacting to a change in how they view America as a trade partner. They view them as a threat, or at least as a wild card.
I said this before, everything would be different if Trump had targeted trade partners one at a time. Even if other countries saw malice in the moves, the US likely would have succeeded unequivocally and could then have forced successive countries into submission. Each win would make them stronger.
Attacking so many trade partners at once though? That just opens doors. Countries which might have turned down certain trade stipulations with another country may have only been doing so in the past because they felt confident in their trade with the US. Or, they may know see a greater need to diversify themselves. Or, even worse, it may be two countries now working together to actively undermine America's trade power.
There are seemingly infinite more reasons now for any two other countries to be more open to better trade deals.
Again, I'm not sure how much or how fast. But the WORLD is reducing it's dependence upon the US. And this WILL decrease the power of their economy.
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