Market News
US trade policy moves leave economists puzzled
U.S. sanctions on Turkish ministers and decision of increasing tariffs on aluminium and steel imports from Turkey have puzzled economists about President Donald Trump’s unpredictable trade and foreign policy.
“The Trump administration has been pushing back [or some would say ‘lashing out’] at countries that it feels have been enjoying an ‘unfair’ trading advantage over the U.S.,” GKFX Senior Market Strategist David Morrison told Anadolu Agency on Tuesday.
Morrison said that the U.S. was now using trade wars and economic sanctions for political reasons.
“I believe that this is why Trump is using them not just against major trading partners such China, Canada, Mexico and the EU, as a method of righting perceived unfairness over trade, but also against countries where there are political disagreements - Russia, Iran and now Turkey.