Problems of Washington's incoherent fiscal and trade policies should not be dumped on the Federal Reserve.
In the first half of this year, the EU ran an $84 billion surplus on U.S. goods trades, a 9 percent increase from the year earlier.
Instead of working with Germany to expand and open up the markets for up to $400 billion of U.S. exports to the world's largest free-trade area, Washington has soured the relations with Berlin on trade issues, defense spending, vitally important North Stream 2 gas pipeline and taunts about U.S. military base transfers from Germany to Poland.is another large trade and security problem for the U.S.
Does Trump know about that in the run-up to the G-7 meeting later this month, and an apparently done trade deal with Japan ready for signature next September? And how reasonable is Trump's policy of seeking to contain China's influence in the Indo-Pacific region when America's key Asian ally wants to cash in and thrive on vast and growing Chinese markets?Problems of Washington's incoherent fiscal and trade policies should not be dumped on the Fed.
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