Unlike many of his predecessors who often forgot about their campaign promises, President Trump is turning his anti-globalisation campaign rhetoric into concrete policies. This turn towards “America First” in the US will not only slow down the process of global economic integration, but also affect global governance systems that have already become tenuous as a multipolar world emerges.
Mr Trump has determined to subvert Barack Obama’s attempts to enhance American leadership in global governance. By far his most audacious move is to withdraw from the Trans-Pacific Partnership (TPP) that Mr Obama spearheaded with 11 other countries along the Pacific Rim.
The TPP is not just a trade agreement. Indeed, most studies have found that its impacts on American trade will be minimal. Rather, it is more of a pact to unify the regulatory frameworks of member countries according to US standards. From this perspective, it is a one-sided agreement benefiting American companies. Mr Trump’s withdrawal can be interpreted as a gesture signifying rejection of multilateral mechanisms as a way to advance American interests — unless it was based on a false reading of the TPP and its meaning.