“Donald Trump’s approach to trade is driven by a series of misconceptions and contradictions. He views negotiations as being a one-off zero sum game. As a result, he focuses on extracting as much as possible from the people/countries on the other side of the table. This, combined with a flawed understanding of economics, has led to policies that undermine America’s global position rather than strengthen it.

“True experts on bargaining realise that there can be big mutual gains from developing long-term cooperative relationships. 

“Donald Trump fails to understand that America has prospered for 80 years because agreements over many years have facilitated US companies, enabling these companies to develop technologies and operate across the globe, protected by agreements on cross-border business, protection of property and IP, as well as capital flows. This has enabled America to benefit from long-term capital inflows from other countries into the dollar. Timothy Snyder, among others, has noted how the US had reached unprecedented prosperity and influence through these agreements.

“Trump's myopic view of negotiations is leading him to try to play cards that have already been played. Other countries need to respond by playing some of the cards they have given up over the years, to bring home to Americans that Trump is not making their country great again.

“This is a critical period. Unless the US public wakes up fast, we could be heading into a global slump.”

To arrange an interview with Dr Huw Edwards, email the Public Relations team or call 01509 222224.