US commerce secretary says globalization is failed policy left US behind
“The Trump administration and myself, we are here to make a very clear point: globalization has failed the West and the United States of America,” Lutnick told attendees.
He further explained the flaws of globalist strategies, saying: “It’s a failed policy. It is what the WEF has stood for, which is export, offshore, far-shore, find the cheapest labor in the world and the world is a better place for it. The fact is it has left America behind. It has left the American workers behind. And what we are here to say is ‘America First’ is a different model, one that we encourage other countries to consider.”
US President Donald Trump has long criticized globalization during his campaigns and high-profile gatherings like Davos, pledging to re-industrialize the country and employ tariffs to prevent jobs from moving overseas. In 2016, he vowed he would “no longer surrender this country or its people to the false song of globalism.”
A decade later, Trump’s economic nationalism has strained relations with US allies. Last week, he threatened eight European NATO member states with 10% tariffs over their opposition to his Greenland ambitions, prompting the EU to freeze ratification of a major trade deal with the US and warn of retaliatory measures.
Meanwhile, some of Trump’s allies have pursued agreements with China, the US’ main economic competitor. Canadian Prime Minister Mark Carney signed a preliminary trade deal with Beijing last week, describing it as the start of “a new strategic partnership” between the two nations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
