PNN – The “Council on Foreign Relations” announced the beginning of a new dangerous era in trade and evaluated the US President’s tariffs against the country’s three major trading partners as a sign of the collapse of the rule-based order with important global consequences.
According to the report of Pakistan News Network, “Edward Alden”, the analyst of this prominent American think tank, states that for several decades, the international economy operated based on a relatively predictable set of rules, guided by the United States. The US believed that maintaining this predictability was in its national interest. But with Trump’s decision last week to declare a state of emergency to impose heavy tariffs, that era is over. It is hard to predict what will happen in the future.
The author believes that in this situation, the feeling of betrayal among America’s neighbors is indescribable and one should wait for their reaction.
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Canadian Prime Minister Justin Trudeau reminded Trump that from the beaches of Normandy to the mountains of the Korean Peninsula, from the battlefields of Flanders to the streets of Kandahar, we have fought and died by your side in your darkest hours.
The Prime Minister of British Columbia called this action of the White House a complete betrayal of the historical bond between the two countries and a declaration of economic war against a trusted ally.
Mexican President Claudia Sheinbaum also called the Trump administration’s argument a “slander” and called on the United States to reform its addiction treatment and public health systems.
In the other part of his analysis, the author spoke about the period of “the rise and fall of the friend-oriented strategy”. Until last month, it seemed that some legal frameworks would remain in place, but in the first weeks of his return to power, Trump threatened and imposed tariffs in an incomprehensible manner. In the history of the United States, there are few examples of a tariff weapon being used for completely unrelated purposes.
The report emphasizes: Trump’s ultimate goals in this game are unclear. Will trade return to normal when the US trade deficit shrinks? Or when the global use of the US dollar increases? Or maybe Trump sees these tariffs as a revenue-raising tool to use to further cut taxes? All these cases or even new reasons may be raised to justify the tariffs.