Doubts about the success of Trump’s sanctions policy.
According to the Novosti news agency, US President Donald Trump said that he is not worried about the reaction of the energy market to the possibility of imposing new sanctions against Russia.
Last night, in response to a question from a reporter on the presidential plane, Trump said: “No, the impact of sanctions on the raw materials market does not worry me. We have a lot of oil in our country, and we will increase oil production.”
The US President added that the price of oil is currently “relatively cheap” and, in his opinion, the United States should increase its production.
In this regard, the New York Times reported that Donald Trump and his administration have begun a “great economic experiment” by implementing their trade and sanctions policies against other countries, which could have devastating and unpredictable consequences.
The report states: “Although President Trump’s trade deal plan appears to be a political victory for him at the moment, whether it will lead to economic success remains a matter of serious debate among experts. The Trump administration has, in effect, embarked on a grand economic experiment, imposing tariffs at levels not seen in the United States since the early 20th century.”