atans1

Trump’s u turn on TPP shows Churchill’s wisdom

In Economy on 15/04/2018 at 11:14 am

You can always count on Americans to do the right thing – after they’ve tried everything else.

Winston Churchill

Well a modern day variant would be

You can always count on Trump to do the right thing – after he’s tweeted about everything else.

From NYT Dealbook

Has Trump changed his mind about the TPP?
He once denounced the trade pact as “a rape of our country.” But his decision yesterday to reconsider joining — which surprised his own advisers — could hearten U.S. businesses and Republican lawmakers who supported it as one of the best ways to box in China.
Senator John Thune, Republican of South Dakota, told Politico, “If you want to send a message to China, the best way to do that is to start doing business with their competitors.”
Free-trade backers may point to this reversal, as well as attempts to revise Nafta, as a change of heart by a protectionist president. Then again:
And Japan’s chief cabinet secretary cautioned this morning that it’d be hard to rewrite a “well-balanced pact” that already met the needs of 11 signatories.
The president’s decisions on economic matters are now the purview of Larry Kudlow, who’s casting himself as a “happy warrior” even as he described the TPP decision as coming “out of the dark, navy blue.”
Meanwhile, China is not-so-subtly threatening to scale back its purchases of U.S. debt, though that would be a risky maneuver.
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