U.S. president says he believes president-elect will only ‘modify’ trade policies after reviewing them
Updated Nov. 19, 2016 5:41 p.m. ET
Mr. Obama recently attended the APEC summit in Lima. He took the opportunity to reassure Latin America that he believes president elect, Donald Trump, will make slight adjustments to existing trade policies even though Trump said he would completely reverse them. Obama believes that Trump was just speaking out of passion and that campaigning is totally different from governing. He said that once Trump’s officials review the existing policies, they will see that the policies have been successful. Obama pointed out that in a democratic country, things can get frustrating, such as outcomes of elections, but wrongs can always be corrected with democracy.
Obama also met with Asian leaders at the conference and acknowledged that the Trans Pacific Partnership, a trade pact, will not be ratified by congress once he leaves office. This pact was an initiative that Obama was working on in his second term. He urged members of the TPP to continue to work together and try to advance the TPP.
The US and China were also the drivers for the international climate change agreement, which was gaining cooperation from other countries. It will be up to the Chinese president to convince Trump to continue with this initiative.
Is it expected that Obama will have an encounter with Mr. Putin, though the meeting will be uncomfortable since the Obama Administration accused Putin’s government of using cyber attacks to influence the outcome of the election.
Obama wanted to end his administration on a high note with normalizing US-Cuba relations. This is also a grey area once Trump gets into office.
Basically, all foreign nations are worried about existing trade policies with the US as well as current initiatives. There have been great strides in improving foreign relations and everyone fears that it will all be in vain once Trump enters office. This effects global marketing in the sense that elected officials can negatively or positively impact the global business environment.