There’s no doubting the Trump team’s commitment to cutting imports. But it keeps getting tougher to see what how they want to do it.
US Congressional Republican leaders made their pitch on February 1 and 2 for handling NAFTA renegotiation and border taxes. Trump’s earlier China commitments seem to have disappeared.
In mid-April American Democrat and Republican politicians announced an agreement designed to speed up US approval of the proposed Trans Pacific Partnership (TPP). In a recent FlanaRant I explained why I’m still sceptical a TPP deal will pass into law soon – and why it won’t be the deal US retailers have been chasing.
The six-monthly US Treasury report on currency rates claims that China’s RMB “remains significantly undervalued” and that “China should allow the market to play a greater role in determining the exchange rate.”
Attempts to create a US Congressional consensus for tabling Trade Promotion Authority legislation had made little progress by the end of February.