Donald Trump took power in January pledging to overhaul a global order that he said cheated middle-class Americans with a promise to tear up trade agreements and impose tariffs on China and Mexico.
Some of Trump’s policy advisers named allies like Germany and Japan as possible targets for economic retaliation.
Fast-forward almost 100 days into Trump’s presidency and the world’s most powerful finance officials, gathered in Washington for the International Monetary Fund spring meetings, have found an administration that is far from the disruptive force Trump promised.
Although Trump did act on his campaign promise to tear up a 12-nation Pacific trade pact that had been the cornerstone of President Barack Obama’s Asian pivot, he has taken a much softer stance on other issues. He has refrained from pulling out of the North American Free Trade Agreement, did not carry out a pledge to label China a currency cheat, and