Bank of England Governor Mark Carney said US President-elect Donald Trump’s conclusions on international trade were wrong but it was important for governments not to forget people who have been left behind by globalisation.
“He is not right on the conclusion about trade and the contribution to the economy,” Carney told Britain’s Channel 4 television on Monday when asked about Trump’s views on trade.
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“But it is the whole suite of policies around trade, and recognising that some are left behind by trade, through no fault of their own,” he said in an interview. On the campaign trail, Trump said China was “killing us” on trade and he threatened to levy a 45 percent tariff on all Chinese goods and pull out of the World Trade Organization.
He has also said he will rule out U.S. participation in the wide-ranging Trans-Pacific Partnership (TPP) trade deal and has vowed to renegotiate or quit the NAFTA trade agreement with Mexico and Canada. Earlier on Monday, Carney – a Canadian national – said in a speech that the openness of the world economy was endangered by frustration among many voters who feel they have lost out from globalisation.