ABSTRACT
This chapter focuses on the role of the US in the international economy. It describes the ways in which the Trump administration has broken with previous U.S. orthodoxy in regards to trade policy and support for a liberal economic order. Bucking the traditional U.S. emphasis on free trade and financial liberalization, President Trump has advanced his ‘America First’ foreign policy agenda, with an economic focus on manufacturing jobs and reducing trade deficits, and demonstrating a preference from bilateral rather than multilateral trade accords. The result has been rising trade tensions with traditional allies, bailouts, and market uncertainty, the ramifications of which will affect both the domestic and global economies.
