Although the new administration of the United States is still in its early stages, Donald Trump has made clear his protectionist stance in international trade. Much of the president’s campaign revolved around declarations that it would restrict American trade and renegotiate or withdraw established treaties, including NAFTA with Mexico and Canada. Assuming Trump maintains its focus on America First, analysts around the world are predicting a slowdown in trade that would seriously damage the world economy. However, Mexican currency expert Pablo Soria de Lachicais hopeful that the strong leadership of the European Union will unite Asia, the Middle East and Latin American economic powers into market-opening alliances that would effectively fill any fall in trade left by the United States. .
Sachsa of Lachica said that even before Trump’s inauguration, European Trade Commissioner Cecilia Malmstrom announced that the 28-nation bloc was considering taking a bigger role in the global market. “I think the EU has the potential to fill the void. We can show that walls, protectionism, is not what the world needs right now, “Malmstrom said at a congress of the Alliance of Liberals and Democrats for Europe in Warsaw in early December. “We can show that open borders and trade are compatible with sustainable development and high standards.” Recently, the European Commission Vice-President Jyrki Katainen confirmed that position,
“While there have been signs to increase protectionism on the US side, the rest of the world seems to struggle against saying that this is not our line, this is something we do not want,” Katainen said in the interview in Brussels. For Pablo Soria de Lachica, these aggressive attempts to expand trade are good signals for the future of the world economy. After closing a historic free trade agreement with Canada, the EU is advancing a number of trade objectives, ranging from the update of a long-term agreement with Mexico, to the conclusion of an agreement with Japan. “We have been very pleased to see that during the last couple of months many of the countries we have negotiated with have indicated that they want to accelerate and achieve good deals,” Katainen said. “The EU will make every effort to materialize and capitalize on this political moment. It is in our DNA to support freer world trade. “
Pablo Soria de Lachica is a globally acclaimed currency analyst, who is currently working with Kartoshka, a world leader in the forefront of sales, telemarketing and customer care technologies. It uses its experience to offer unique perspectives and professional guidance on international trade, the development of online trading tools, market analysis and daily business operations.