- Trump’s former trading secretary, Vilbur Ross, It warns that, while now significant progress in trade negotiations, too much fonfidence could lead to American negotiators to get too hard for concessions that foreign governments cannot make. It is especially concerned that “chest” tactics with complex partners like the European Union could stand contracts – something Jamie Dimon warned that ultimately strengthens American rivals.
As the largest world economy, America can be quite confident in its negotiating power with trade partners. However, Trump Administration cannot overcome the hand As it may result in allies to be pushed in the arms of rivals, according to experts such as former Trade Secretary Vilbur Ross and Jamie Dimon.
This is a scenario that JpMorgan Chase The whole dimon is It sounded alarm because Trump made his tariff agenda public. Writing in this year’s letter to shareholders, “White Vitez Wall Street” wrote that America is “ok” first until it results in “America only” only “America”.
In the meantime of the former president of the Secretary of Trade, Vilbur Ross, is concerned that Achilles Achilla’s fifth administration can show that it is potentially a reliable-reliable britain signing framework and China.
Ross said it was in whole He believes that President Trump and his team guides negotiations well and have already achieved some great goals. But he added his one fear that the government could get too much “breasts”.
He said Happiness In an exclusive interview: “The very fact that they achieved so much progress as they showed the basic power of the US to get people.”
“In Fact My One Fear Is That If Our Government Feels Too Chesty With Their Progress, They Maybe That Are Hard-Maybe Even Impossible-for The Other Countries to Give In. That’s My Biggest Worry Right Now BeCause It’s Easy To Get Carried away with early Successes. “
As well as a contract with the Great Britain and a framework with China, positive signals also go out of conversations with India and Japan.
“What I think is very important [is] … Although initiatives have taken with about 70-unusual countries, in reality, there are only about four or five that make up a lot of difference because they are those that move the needle and [Trump] He seems to be quite well, “said Secretary Ross.
“With, I would say, the EU is very difficult to make trading concessions because it is not a different set of goals, but each has a veto power, but even every veto, but it is also very difficult to deal with the veto.”
The EU can be one of the “slorier” offer, he added, while Japan, China and Vietnam expects to be “pretty fast”.
Problem areas
European Union, which Trump previously claimed that the sole purpose of work was created against AmericaAmong the regions are most likely to represent a problem if the Oval Office is too secure in its approach, said Secretary Ross.
Already president leched his frustrations Lack of progress when it comes to negotiations with the EUPre-publication of the outbursts of true social audit, the EU would face 50% tariff due to lack of action. This 50% tariff is then paused for 90 days.
Question Happiness Which region can lead to the stops in talks, Secretary Ross said, “The EU is definitely the possibility, simply because they are difficult to download the United Front.
“But someone like Vietnam, who imposed huge tariffs … that someone sincerely surprised me for the reasons of our trading deficit, was suddenly made by Vietnam if there were many factory movements from China to Vietnam.”
The security of the European Union is especially the key concern of Dimon, due to its history and potential block fragmentation.
“This will be difficult, but the goal of our country needs to help strengthen and bring them closer. If the economic weakness of Europe leads to fragmentation, the landscape will look much like the world before World War II,” he wrote at the beginning of this year. Such fragmentation, over time would increase European dependence on China and Russia, under the converter of Uncle Sami’s former allies in “Vassal States” of its rivals.
This story is originally presented Fortune.com
