Washington D.C. – A former trade negotiator under President George W. Bush is offering a wait-and-see approach to President Trump’s tariff strategy, but fears the U.S. will eventually be shut out of trade discussions with global partners down the line.
“Our strength is our openness…not to build barriers,” former U.S. Trade Representative Robert Zoellick told The Flag’s Scott Hennen.
Zoellick likened Trump’s plan to “retreating” when it comes to economic matters, believing the tariffs will lead to higher costs, more retaliatory tariffs and the creation of “huge uncertainty”.
“I’m afraid a lot of this is kind of backward looking,” said Zoellick. “I don’t think it’s going to turn out so well for America.”
But in a post on Truth Social on Tuesday morning, Trump says a “great deal” between the U.S. and South Korea was coming soon.
Trump spoke on the phone with the leader of South Korea, which is a U.S. ally and was recently hit with a 25-percent tariff.
Trump also says they are “dealing with many other countries”, implying that more deals are in the works.
When asked if he believes President Trump is negotiating rather than retreating on trade, Zoellick signaled he’s unsure about how everything will play out.
“We’ll see,” said Zoellick, “Maybe he’ll [Trump] will adjust a little bit because the markets have reacted badly.”
