Writing in the National Review, Altamar co-host Peter Schechter notes that for all of Trump’s twists and turns on trade, the US’ lurch toward protectionism isn’t prompting copycats elsewhere in the world. Quite the opposite, in fact:
As America lurches — however inconsistently — toward protectionism, the rest of the world is responding with a simple proposition: more trade. We are not witnessing a collapse of the liberal economic order. We’re watching its expansion.
The U.S. is a founding member of the current trade system, which has brought the world so much prosperity. And the fact that the system continues to function notwithstanding Trump’s cold shoulder is a testament to its strength. But as the world continues along without Washington, let’s not fool ourselves into thinking everything will be the same once we’re ready to come back. No one is waiting for the United States.