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1.Market Observations, 8.Was Sticky

9 Aug 2017 (AFR) – Donald Trump’s America is waiting, not winning on new trade agenda

(9 August 2017, AFR, p44, by Alan Rappeport)

‘Donald Trump promised Americans that they would be exhausted from “winning” on trade under his presidency. But nearly seven months after Trump took office, the industries he vowed to protect have become tired of something else: waiting. After beginning his presidency with a bang by withdrawing from the Trans-Pacific Partnership pact in January, Trump has accomplished little else of significance when it comes to re-orienting deals with other countries. Instead, his administration has been struggling to work through the complicated rules that dictate international commerce. All the while, they are learning that bold campaign promises are hard to keep when many voices advocate different plans. For many businesses that had raised their hopes, frustration is mounting by the day. America’s steelworkers are on edge as they wait for Trump to fulfil his promise to place tariffs on steel imports. Home builders are desperate for the president to cut a deal with Canada to end a dispute over its softwood lumber exports. And cattle ranchers are longing for a bilateral pact with Japan to ease the flow of beef exports.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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