[Applause] [Music] while Donald Trump's first day is president he declared a change in America's direction for many decades we've enriched foreign industry at the expense of American industry from this day forward it's going to be only America first he was complaining about what's known as the liberal world order international economic and security arrangements linking major market oriented democracies America led in creating those arrangements after winning world war two presidents of both parties agreed that institutions like the World Trade Organization International Monetary Fund and North Atlantic Treaty Organization would help prevent future Wars advance American values
and enhance prosperity here and abroad it worked America won the Cold War with the Soviet Union there has not been another global hot water the world's economy adjusted for inflation is now seven times larger than in 1960 the US economy is nearly six times larger today the u.s. spends fourteen billion dollars a year to support these institutions but a recent RAND Corporation study found that America has derived hundreds of billions in benefits through trade expansion productivity improvements conflict prevention and safeguards for the global financial system the US has had a disproportionate voice in how this
system has unfolded and that has been incredibly beneficial to US diplomacy and US interest in a lot of different ways it's fair to say based on the work that we've done to try to assess the role of this that no great power in history has ever had a more profound competitive advantage than the one we have gained from this post-war order but some have been badly hurt the Peterson Institute for International Economics estimates that expanded trade has cost roughly one hundred fifty six thousand American jobs annually in recent years those lost jobs and cultural changes
from rising immigration levels have jolted blue-collar communities in the US and Europe and made the global order a target of populist revolts it's also the target of Russian leaders eager to restore lost power and influence the British Parliament's now investigating covert Russian attempts to assist the 2016 Briggs ad campaign to split the United Kingdom from the European Union [Music] [Applause] [Music] the US intelligence community concluded that Russia also meddled in America's 2016 campaign to help elect President Trump since taking office Trump has shaken one international structure after the other he withdrew from the trans-pacific partnership
threatened to terminate NAFTA and slapped import tariffs on us hours he abandoned a global climate agreement as of today and scuttled a multi-nation pact to curb Iran's nuclear program I am announcing today at the United States well withdraw from the Iran nuclear deal Trump is questioned both NATO's economic underpinnings many countries are not saying what they should and its commitment to defending member countries specifically one recently targeted by a Russian backed coup attempt why should my son question a wide range of officials worried that undercutting traditional alliances will harm the economy and make America less
safe are pushing back fellow Republicans have joined Democrats in warning against imposing tariffs on friendly trading partners Trump's own defense secretary James Madison's to defend NATO saying the u.s. is committed to the mutual defense organization 100% officials from previous administrations say the web of long-standing global relationships has staying power that webbing is very intense and and it can sustain a lot of damage this is not the first time that there have been troubles in the transatlantic relationship but it is the first time that a president of the United States did not appear to believe in
the liberal order but the global order was unrestrained even before Trump's presidency now some ferrets already been damaged too much things will not be okay wrote Robert Kagan a conservative former foreign policy adviser to Republican Senator John McCain a world crisis is upon us
