Trump's backward-looking trade strategy threatens America's future, experts say [View all]

[DonViejo]

By STEPHANIE MURRAY 06/13/2018 10:36 PM EDT

President Donald Trump’s refusal to make multilateral trade deals suited to the 21st century economy could cost the U.S. key influence in the global market for decades to come, a group of trade policy experts said at a debate Wednesday evening.

“We can’t continue looking in the rearview mirror at manufacturing experience as our guide,” said Mark Muro, a senior fellow at the Brookings Institution. “We need to learn from the past as we move into the next era that will be about global flows and services.”

The trade experts at the discussion, “Globalization and the American Worker,” criticized Trump’s moves that have isolated the U.S. while China’s trade power balloons.

The president should work with nations that share similar U.S. concerns about intellectual property theft and related issues, said Mercatus Center Fellow Christine McDaniel. “The way to change China’s behavior is to work with our likeminded allies who are just as frustrated with China as we are,” said McDaniel, who served as an economist in the Bush White House and Treasury Department.

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https://www.politico.com/story/2018/06/13/trump-tariffs-global-market-brookings-645591