THE MODERN TRADE POLICY OF THE USA AND ITS IMPACT ON THE FOREIGN TRADE RELATIONS

Анотація

The article is devoted to the analyses of the modern trade policy of the USA under the presidency of D. Trump and its further potential impact on the overall foreign trade relations. The economic activity of Donald Trump was compared with the activity of previous presidents and it was pointed out that the domestic and foreign policies could be described as protectionism in all spheres of it. For understanding how the policy of Donald Trump will further impact on the US economy, the impact of its main provisions in the economic parameters of the country was assessed and 4 scenarios and the impact of every scenario to the foreign relations were described. Also, the results of the "trade war" with China for the United States and the question of the NAFTA transformation was summed up: both hard and soft option of NAFTA breakdown were extremely disadvantageous for every party. Most of all, the economy of Mexico suffers, while the USA and Canada also suffer losses, despite the implementation of protectionist measures. In addition, the main changes to the terms of trade withing the USMCA were described.

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