I have new online piece, co-authored with Dani Nedal, at Foreign Affairs:

President Donald Trump believes that America makes terrible deals—from the North Atlantic Treaty Organization (NATO) to the North American Free Trade Agreement (NAFTA). Why, according to Trump, do other countries take such advantage of the United States? Because our leaders and officials are stupid and incompetent and are terrible negotiators.  “Free trade can be wonderful if you have smart people. But we have people that are stupid,” said Trump when he announced his decision to run for president. On immigration, he was similarly blunt: “the Mexican government is much smarter, much sharper, much more cunning.” And during the negotiations over the Iran nuclear deal, he claimed that “we are making a terrible deal” because “we have the wrong people negotiating for us.” He added that “the Persians are great negotiators” and that “they are laughing at the stupidity of the deal we’re making on nuclear.”

If the Trump Doctrine is to put “America First” by focusing on bilateral bargains—understood in terms of short-term winners and losers—then its corollary is the “Good Negotiator Policy.” In the president’s world, bad people make bad deals.  The best, smartest people—most notably, Trump himself—always get the best bargains. He is right that personal attributes and interpersonal dynamics can make an important difference in international negotiations. But Trump’s focus on individual skill overlooks the most important factor that shapes political agreements in general and international ones in particular: the relative leverage of the parties involved.

The problem is that when the Washington locked in most of its bargains and arrangements, America was much more powerful, in relative terms, than it is now.

It takes a rather naïve negotiator to attempt to overhaul relatively favorable deals from a position of comparative weakness. The United States will not get better bargains than it achieved when it controlled more than twice as much of global power as it currently holds. If Trump abandons long-standing practices of American-led liberal order for bilateral, transactional, and zero-sum relations, other states have little reason to prefer dealing with Washington to China, Russia, or any other country.

When it comes to stiffing contractors, he’s shown a very good understanding of how power asymmetries shape bargaining outcomes. But, overall, Trump’s rhetoric is in keeping with a man who was born on third base and thinks staying there is a testament to his mad business skillz.

Anyway, go read the whole thing, if you’re so inclined. You may need to register to get access.

(cross-posted at Lawyers, Guns and Money)