Home
FacebookTwitterSearchMenu
  • Subscribe
  • Subscribe
  • News
  • Features
  • Knowledge Library
  • Columns
  • Customs
  • Jobs
  • Directory
  • FX Rates
  • Categories
    • Categories
    • Africa
    • Air Freight
    • BEE
    • Border Beat
    • COVID-19
    • Crime
    • Customs
    • Domestic
    • Duty Calls
    • Economy
    • Employment
    • Energy/Fuel
    • Events
    • Freight & Trading Weekly
    • Imports and Exports
    • Infrastructure
    • International
    • Logistics
    • Other
    • People
    • Road/Rail Freight
    • Sea Freight
    • Skills & Training
    • Social Development
    • Sustainability
    • Technology
    • Trade/Investment
    • Webinars
  • Contact us
    • Contact us
    • About Us
    • Advertise
    • Send us news
    • Editorial Guidelines
Freight & Trading Weekly

Trump, ‘twerrorism’, trade and big trouble from little legumes

03 Aug 2018 - by Eugene Goddard
0 Comments

Share

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • E-mail
  • Print

World trade can be a labyrinth, especially when the globe’s in the grip of escalating tariff tension and the so-called leader of the free world is known more for his inflammatory pronouncements on social media than for his leadership. But US President Donald Trump’s recent upper-case tirade on Twitter against Iran – some see his regular fulminations as “twerrorism” – are “the actions of a man in desperate search for a strategy rather than a strategic means to execute decisions,” said Brooks Spector, retired US diplomat. In fact, the problem with the Trump administration’s foreign policy, added the analyst of American affairs, is that “there is no strategic vision”. Disgusted by what happened recently in Helsinki, when it looked like America was being sold out to Russian President Vladimir Putin by the very man that should protect their interests, Spector wrote in Daily Maverick that he never thought he would see Trump “fully metastasise into something astoundingly shallow as well as something so deeply flawed and evil”. All the more reason to be worried when Trump tweeted that Iran should “never, ever threaten the United States again.” That is unless they want to “suffer consequences the likes of which few throughout history have ever suffered before. To be fair, it was in response to the Iranian supreme leader, Ali Khamenei, ranting that his country is prepared to wage “the mother of all wars” on the US if America proceeds with sanctions against Iran. “That’s the real issue here,” said Spector, recalling the trade reprieve Iran received under the US’s previous dispensation. “Anything that Barack Obama did, Trump is against.” Spector added that the US president was also unconcerned about Iran’s threat to blockade oil shipments through the Strait of Hormuz seeing as most Iranian oil goes to India and China, the latter being Trump’s primary target for tariffs. However, to obstruct shipping through the Strait will also affect oil exports from Saudi Arabia, Bahrain, Qatar and Kuwait and although Trump would like to see the Islamic rule of Iran’s Ayatollah overthrown, he’s got much bigger fish to fry – at home. “Imagine you’re a farmer in Iowa (a Republican state) with 3 000 acres of soya beans under cultivation? “You are now deeply distressed,” said Spector about China’s decision to drastically cut soya bean imports from the US because of tariffs Trump has imposed on the government of Xi Jinping. So bad has the effect of tit-for-tat penalty measures been on US soya exports to its biggest Asian client, that Trump’s administration pledged a $12bn bailout to bean-belt farmers in Iowa and neighbouring states. Meanwhile, South Africa’s Milk Producers' Organisation reports that the country’s on the verge of recording its biggest soya crop of all time, around 1.34 million tonnes, with net export potential of 30 000 tonnes. Spector said that apart from feeling the heat from little legumes, the consequences of Trump’s trade penalties were reverberating right across the US economy. “If you’re the general sales manager of a company manufacturing washing machines, your feet are tied because the sheet steel that’s imported from somewhere else is so heavily tariffed, you can’t compete with cheaper imports,” Spector said. Facing the fallout at home from his economic policies, not to mention growing evidence that he may be Putin’s stooge, is probably one of the reasons why Trump is turning to old foes such as Iran to shore up support by fomenting old fears. Of course there’s also the notso-small matter of forthcoming mid-term elections and the Democrats are closing in.

INSERT with CAPTION 

Imagine you’re a farmer in Iowa with 3 000 acres of soya beans under cultivation? You are now deeply distressed. “ – Brooks Spector

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.
Subscribe to receive print copies of Freight News Features to your door.

FTW 3 August 2018

View PDF
Old scanner issue irks industry
03 Aug 2018
Duty Calls
03 Aug 2018
World Bank expert to look at local logistics industry
03 Aug 2018
360˚ turnaround in 60 days for Port of Cape Town
03 Aug 2018
  •  

FeatureClick to view

Botswana 20 June 2025

Border Beat

Police clamp down on cross-border crime
17 Jun 2025
Zim's anti-smuggling measures delay legitimate freight operations
06 Jun 2025
Cross-border payments remain a hurdle – Masondo
30 May 2025
More

Poll

Has South Africa's ports turned the corner?

Featured Jobs

New

Seafreight Export Controller (To Be based In-house)

Tiger Recruitment
East Rand
19 Jun
New

Key Account Manager

Lee Botti & Associates
Johannesburg
18 Jun

Pricing Specialist

CANEI
South Africa (Remote)
17 Jun
More Jobs
  • © Now Media
  • Privacy Policy
  • Freight News RSS
  • About Us
  • Advertise
  • Send us news
  • Contact us