The antitrade rhetoric resonated among the millions of Americans during the election campaign where Donald Trump, the presidential candidate promised to rip off all such free trade agreements like North American Free Trade agreement (NAFTA), the recently negotiated Trans-Pacific Partnership (TPP) and many others which have caused millions of job losses in the US. Along with this, he urged to raise tariff rates on imports of certain goods from China. Initially it was China and Mexico where Trump urged to raise the trade tariffs up to 40% and 15% respectively, later he suggested 10% tariffs on imports from everywhere around the world.
Trump believes that globalization has ruined the US economy resulting into more job losses and losses of the manufacturing sector for which he holds China mainly responsible due to its currency devaluation (or manipulation) leading to more trade deficit with China. He also signaled to be very tough on other US allies.
