Trump to make a number of key trade decisions - Nomura

Analysts at Nomura explained that President Trump was not as aggressive on trade during his first year as many had anticipated. 

Key Quotes:

"Despite his campaign promises, he did not withdraw the US from NAFTA, impose broad-based tariffs, nor label China a currency manipulator. 

However, he did take a number of other actions including withdrawing from the Trans-Pacific Partnership (TPP), beginning renegotiations with NAFTA and KORUS, and initiating a series of investigations into steel, aluminum, and China’s intellectual property policies.

The Trump administration will likely make a number of important trade decisions in January that will provide insights into how aggressive it will be later in the year."

"Overall, we believe the risks remain high around President Trump pursuing a more aggressive trade policy. Also, should the Trump administration tie national security concerns to international trade by invoking Section 232 of Trade Expansion Act of 1974, that would also serve as an indicator of the aggressiveness of the administration. "