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Is the Moody’s Downgrade the End of American Exceptionalism? (jacobin.com)

submitted 1 month ago by BrikoX@lemmy.zip to c/usa@midwest.social

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Moody’s decision to downgrade the US’s credit rating is a slap on the wrist. In the past, the US might have dismissed it, but investors are signaling they think America is fundamentally untrustworthy — and they may soon put hard limits on Trump's program.

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[–] BrikoX@lemmy.zip -1 points 1 month ago (1 children)

95% of what he did was through executive power, which he had full control over.

On many other issues, however, Biden retained the essence of Trump’s approach. Key documents issued during Trump’s first term characterized China and Russia as strategic competitors of the United States, a framing Biden embraced. Biden kept the Trump-era tariffs on China and expanded controls on technology transfers that began under Trump. He executed the Afghanistan withdrawal agreement negotiated between Trump’s team and the Taliban, remained outside the Iran nuclear deal, and, like Trump—but unlike President Barack Obama—provided lethal aid to the government in Ukraine. Biden sought to extend the Abraham Accords, a key Trump-era foreign policy success in the Middle East, and over time, he attempted to make Saudi Arabia a U.S. treaty ally. The two administrations could hardly have been more different in style and rhetoric. In the underlying substance of their policies, however, there was more continuity than the casual observer might have appreciated.

https://www.foreignaffairs.com/trump-biden-trump-foreign-policy