In May, the White House slapped hefty tariffs on steel and aluminum coming from European countries. The EU responded with three billion dollar worth of tariffs on US goods.
“We haven’t seen that really since the end of the World War II, when we were introduced to the idea of globalization and global institutions, like the IMF and the WTO, like the UN, like NATO.”
Trump sees these institutions as a waste of money, according to Keiser.
The financial analyst stresses that the accord on the LNG is vital for the US that had been banned from selling oil and gas abroad for decades.
“Trump is looking at this like a giant monopoly board,” Keiser said mentioning such huge players of the global LNG market, like Russia and Qatar. “You want to make sure that you are selling more to other countries than they are selling to you.”
The host of RT’s Keiser Report added that Trump’s “wrecking ball” approach is effective against the European “surrender monkeys”, who will be forced to concede to America’s new trade policy.