Trump Destroying ‘Old World Monetary Order’ By Signing Off on Tariffs, Sanctions

• Trump Destroying ‘Old World Monetary Order’ By Signing Off on Tariffs, Sanctions
  by https://sputniknews.com/
  US President Donald Trump’s love of using tariffs and sanctions to get back at foreign governments is a game changer that is ultimately destroying “the old world monetary order,” economist Mark Frost told Sputnik.
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  US Treasury Secretary Steven Mnuchin revealed during a Thursday meeting at the White House that the US was prepared to slap Turkey with additional sanctions if Turkish President Recep Tayyip Erdogan refused to release American pastor Andrew Brunson. This would be in addition to the US’ sanctions on two top officials in the Turkish Cabinet last week and tariffs imposed on Turkish steel and aluminum, which sent the Turkish lira on a bit of a tumble.
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  Turkey and the US landed in an “it’s complicated” relationship status after Ankara refused to release Brunson, who is accused of backing the failed 2016 coup. Citing failing health, Turkish authorities have released Brunson from prison and placed him on house arrest.
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  ​Frost told Sputnik Radio’s Fault Lines on Thursday that Trump is changing the game on how officials view the power of tariffs and sanctions.
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  “What Trump has done is, he’s changed the game. Used to [be], the game was: let’s predict what other people are going to do,” Frost told hosts Garland Nixon and Lee Stranahan. “Now, people are saying, ‘We don’t know what people are going to do, so we’re going to take a different way of looking at how we expect currency movements and things like that to happen.'”
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  “[W]hether you like it or whether you don’t like it, Trump has basically destroyed the old world monetary order of how the world works,” he added.
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