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Seeking shelter from Trump's fury, US trade partners reach deals with each other (apnews.com)

submitted 16 hours ago by MicroWave@lemmy.world to c/world@lemmy.world

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Bullied and buffeted by Donald Trump’s tariffs for the past year, America’s longstanding allies are desperately seeking ways to shield themselves from the president’s impulsive wrath.

U.S. trade partners are cutting deals among themselves —- sometimes discarding old differences to do so — in a push to diversify their economies away from a newly protectionist United States. Central banks and global investors are dumping dollars and buying gold. Together, their actions could diminish U.S. influence and mean higher interest rates and prices for Americans already angry about the high cost of living.

Last summer and fall, Trump used the threat of punishing taxes on imports to strong-arm the European Union, Japan, South Korea and other trading partners into accepting lopsided trade deals and promising to make massive investments in the United States.

But a deal with Trump, they’ve discovered, is no deal at all.

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[–] eightpix@lemmy.world 1 points 8 hours ago

Let's see: USA has 26.3% of world GDP. They jealously guard that by force of arms, unfair trade deals, and an aggressive propaganda campaign.

Then, the relationship turns truly abusive. America is even inflicting self-harm.

So, the trade partners of thw world want a divorce; to find themselves and reconnect to their core values, absent the frathouse belligerence of USA. Certainly, other powerful and potentially abusive partners are there among the large economies; but the smaller, resource rich countries are looking for better partnerships.

The US's stars will fade. Their economic power will shrink. They may even lose some of their states to secession.

If I'm not mistaken, this is how the Holy Roman Empire collapsed — into a handful of warring kingdoms and principalities in the middle of Europe. It wasn't the end of the world. It was the end of that world.