‘Trumponomics’ Will Not Be Allowed to ‘Contaminate’ Europe, Commissioners Warn

Wednesday, January 25, 2017
By Paul Martin

25 Jan 2017

“Trumponomics”, with its shift away from multilateral trading blocs, will not be allowed to “contaminate” Europe, a former European Union (EU) Trade Commissioner has insisted.

Denouncing President Donald J. Trump’s trade policies, which place the welfare of American workers at the heart of American trade objectives, as “outdated”, Pascal Lamy told an audience in Brussels that they were bound to fail, Euractiv has reported.

“He’s surrounded himself with people whose views on trade date from 50 years ago. They’re all 70 plus and they probably learned what they learned on trade when they were 20,” Lamy, 69, said.

Lamy, who is also a former Director General of the World Trade Organization (WTO), warned that “Trumponomics” will hit the American workers it aspires to help the hardest by provoking a trade war with China, and he insisted the EU will not follow the president’s lead.

His comments come just two days after President Trump signed an executive order to pull the U.S. out of the Trans-Pacific Partnership (TPP).

Signing the order, Trump called the decision to withdraw from TPP a “great thing for the American worker”, but Lamy insisted the Administration’s pivot away from multilateral trade only resonated among the American electorate because the U.S. labour market was hit harder by globalisation than any European country.

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