by Jonathan Todd
Trump’s inauguration. May’s speech. We are told that Trump is a protectionist and May is for free trade. But they both reject the social market that characterises the EU, making it a golden shower of a week for internationalist social democrats.
The market comes via trade within the EU, while the social is injected by having this occur above a floor on workers’ and consumers’ rights, as well as protections for the environment and other public goods. “We would be free,” threatened the prime minister, “to change the basis of Britain’s economic model.” The social dimension of the EU model would not endure any transformation into Dubai-on-Thames. Nor, according to a former head official at the Treasury, would the NHS.
It is also the market, not the social, that attracts Trump – perhaps better described as a mercantilist than a protectionist – to a trade deal with the UK. He wants a wall on the Mexican border but he doesn’t want, in contrast to a pure protectionist, to wholly encase America behind trade walls. He does, though, seem to view trade as a zero-sum game, not a win-win exchange. And he eyes a win for America in a negotiation with a UK to be stripped of EU social regulations and looking for friends after politically detaching ourselves from our European partners.
Trump perpetuates the myth that America has ever put itself anywhere other than first. Pumping, in today’s money, around $120bn into Europe via the Marshall Plan, for example, wasn’t just about compassion for a continent on its knees after World War II. It was about minimising the risk of American blood being spilt on European soil, opening up European markets for American goods, and creating a European bulwark between the Soviet Union and the Atlantic.
