[WVLY West Virginia] July 10th: Jacks Talks Trump's Isolation
I appear on WVLY West Virginia on July 10th. As Mr. Trump returns from the G20, a lot of people are trying to understand the take-aways. To begin with, there were major issues that were being addressed at the Summit, climate change, meaning the Paris Accords, and trade agreements. Unfortunately, in many ways, the U.S. was hardly involved in either.
One has to give Mr. Trump at least a little credit. He said climate change was a hoax and that he was going to pull out of the Accords. He has done so. Of course, with the help of big U.S. oil companies, he and his supporters bought into this concept while the rest of the world in a united front disagree. As a result, as the world attempts to address this issue, the U.S. is shunted to the side and ignored.
The other issue discussed was free trade. In fact, a massive agreement did take place between the European Union and Japan for a free trade agreement. Was the U.S. involved? Nope. Mr. Trump's protectionist statements and new stance insured that the U.S. was on the sidelines and therefore had absolutely no impact on the agreement. This agreement is larger than all of U.S. trade combined.
In the end, the problem is these two areas do not work in isolation. All of these other countries see these areas as very important and are doing more than moving forward without the U.S., they are purposely ignoring the U.S., excluding them from the room, and pushing them from the epicenter of world power.
Some may argue that that isn't a bad thing. It is. When you are at the epicenter, when you are at the table, you get to dictate terms. Think of it like the U.S. House ad Senate. The majority party gets majority in the committees and subcommittees. However, what one the most important things they really get is control of the agenda. This is a big part of what the U.S. is losing, the ability to dictate agenda. And most importantly, they are losing power.
This will be fun.