US Pulls Out of Nuclear Weapons Treaty Sparking Arms Race Concerns

President Donald Trump said Friday that the United States is ready to withdraw from a crucial nuclear weapons treaty with Russia on Saturday, a move that has sparked concerns of a budding arms race between the world’s two biggest nuclear powers.

The announcement comes a day after Russia and the United States said that discussions to save the Intermediate-Range Nuclear Forces Treaty had failed.

“Tomorrow, the United States will suspend its obligations under the INF Treaty and begin the process of withdrawing … which will be completed in six months unless Russia comes back into compliance by destroying all of its violating missiles, launchers, and associated equipment,” Trump said in a statement.

“We cannot be the only country in the world unilaterally bound by this treaty, or any other. We will move forward with developing our own military response options and will work with NATO and our other allies and partners to deny Russia any military advantage from its unlawful conduct,” Trump added.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza