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Robert Hormats, Kissinger Associates Vice Chairman, discusses disruption of the global order and its impact on business in Singapore on Jan. 18. (Photo by Ken Kobayashi)
Asia300 Summit 2018

Trump administration doesn't have a trade strategy, says veteran US economic adviser

Trade restrictions could be rolled out in coming months

ROSEMARY MARANDI, Nikkei staff writer | North America

SINGAPORE -- President Donald Trump's administration lacks a coherent trade strategy and made a "tremendous mistake" by pulling out of the Trans-Pacific partnership, Robert Hormats, Vice Chairman of consulting firm Kissinger Associates, said Thursday at the Nikkei Asia300 Summit in Singapore.

Exiting TPP and seeking bilateral trade deals had already weakened the U.S.'s relationship with other countries and with the World Trade Organization, said Hormats, former Undersecretary of State for Economic Growth, Energy, and the Environment in Obama administration.

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