Not always in foreign policy what appears as a sudden decision proves to be such. Let’s take the duties in place from Donald Trump. All of Europe and much of America is tearing the clothes considering them a hateful and potentially fatal measure for the economies of the countries that have commercial relations with the USA.
In reality these duties seem to have Very little “cheap” In their essence, they are mainly “political”. The American president intends, through the duties, to project his particular vision of the world in the world a new less globalized economy and less dependent on foreign imports, considering that the main product exported by the United States is the dollar. He, as a navigated entrepreneur and former student of the most important American business school, knows how he works well how he works for world trade and knows that a duty almost never damages an economy substantially, unlike how wars and epidemics do for example.
Rereading Krugman (and Schumpeter) to believe.
These duties resemble power projectionsof the extensions of the Trumpian verb in economics but without the incisiveness of truly dramatic measures with for example an embargo on certain goods.
And then, we Europeans should only thank him, since it is thanks to these duties that finally, after decades of ignorance, something moves in the mummified European chancelleries.
In history, duties, as well as customs unions, have often had the effect of compact the countries that adopt them. Think of the Zollverein, the Prussian customs union created in the mid-19th century in response to Austro-Hungarian protectionism and which, according to many historians, was the true engine of Germany’s unification then made by Bismarck.
And what about the “Sugar Act“, The tax on sugar imposed from the British crown to the American colonies in 1764? It was actually a terrible duty that the settlers had to pay on all the sugar imported by the motherland. It was one of the triggering causes of the revolts that would then led to the war of American independence and therefore to the creation of the United States as we know them now.
So if a real European unification (It would be nice to believe it) He must create himself in response to the duties of the American president, these same duties appear as an unexpected opportunity for improvement.
Again in the future, as in the past, we will have to give Trump thanks to having done good things.
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