Editorial_ trump needs to learn folly of continuing to bash companies:the asahi shimbun


In a blatant and unreasonable political intervention in corporate activity, U.S. Usd currency exchange rate President-elect Donald Trump warned Toyota Motor Corp. Exchange rate usd to inr history to build its new plant in the United States instead of Mexico.

Among U.S. Nzd vs usd forecast companies, air conditioner maker Carrier Corp. Stock market cnn news and auto giant Ford Motor Co. Binary sms have scrapped plans to build a plant in Mexico as they faced fierce political pressure from the incoming president. Nzd usd chart Now, a Japanese company has also become a target of Trump’s Twitter attack.

In berating Toyota, Trump again displayed his lax attention to facts. Learning tutorials He mistakenly referred to Baja, Mexico, the location of an existing Toyota plant where the automaker plans to expand production capacity, as the location of the company’s planned new plant.

Toyota’s new plant will not replace any existing plant or production line in the United States.

The binary lab The car manufacturer made that clear by saying in a statement issued in response to Trump’s comment, “Production volume or employment in the United States will not decrease as a result of our new plant in Guanajuato, Mexico announced in April 2015.”

Does Trump intend to block all imports from Mexico and Canada that are based on the North American Free Trade Agreement (NAFTA), a trilateral trade-liberalizing pact among the United States and the two countries?

In addition to taking a dim view of the NAFTA, Trump has also pledged to withdraw the United States from the Trans-Pacific Partnership trade pact, which has been agreed upon by 12 countries including Japan.

It is obvious that the next U.S. Hockey players club president is adopting a strong-arm trade policy designed to shift the country’s strategic focus from multilateral to bilateral negotiations to make the most of America’s power as the world’s largest economy.

Can he, however, understand that this kind of a power-driven trade agenda is likely to eventually backfire, hurting the interests of his country over the mid to long term?

If a trade partner of the United States takes retaliatory trade measures in response to his protectionist move, American exports could shrink, delivering a blow to the earnings of domestic companies.

Strong-arming manufacturers into maintaining their production in the United States could hurt their bottom lines and force them to shed jobs and close plants, adversely impacting the overall job picture in the country.

The governments of every country are struggling to strike a good balance between ensuring the benefits of free trade for their consumers and protecting jobs at home.

American consumers have been the biggest beneficiaries of free trade. Thb usd If Washington embraces a myopic protectionist trade policy, the entire world economy, including the United States, could come screeching to a halt.

The governments of Japan and other major countries need to make tenacious efforts to help make Trump realize the potentially devastating consequences of protectionism.

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