Why Is Iceland The Focus Of Washington's New Trade Strategy? | WHAT REALLY HAPPENED

Why Is Iceland The Focus Of Washington's New Trade Strategy?

Authored by John Owens via SafeHaven.com,

Less than a month after his failed attempt to buy Greenland, Trump is now shifting attention to another Nordic nation—Iceland—but rather than offering to acquire the country, the U.S. administration is considering a sweet deal in free trade.

As it stands, the U.S. and Iceland have no bilateral investment treaties or Free Trade Agreements (FTAs), though they do have a bilateral taxation treaty and a Trade and Investment Framework Agreement (TIFA).

Iceland currently ranks as the 94th country in total trade value with the US with a monthly total of $666. In July, US exports to the country totaled $383.71 million and Imports totaled $282.44 million, a surplus of $101.26 million.

In June, the US Department of Defense said it planned to invest some $60 million in military construction in Iceland in 2020.

Just in the last few months, US Secretary of State Mike Pompeo and Vice President Mike Pence have visited a country that normally would not have registered as a more than a blip on the diplomatic radar.

And it seems that Icelandic Prime Minister Katrin Jakobsdottir has found some sort of common ground with Administration officials: fear of Russia and China.

Pence discussed defense cooperation, expressed concerns about increased Chinese and Russian activity in the region, warned Iceland to ditch Huawei tech, and most importantly, congratulated Iceland on rejecting China’s Belt and Road Initiative.

Webmaster's Commentary: 

There are, on a number of occasions, a moment when the Trump Administration's goals seem a lot more realistic when they are spelled out, as this article has done.

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