But this week brings another international financial jamboree, the spring meetings of the World Bank and International Monetary Fund in Washington. And, in this context, the administration's internationalist credentials are unnervingly suspect. What's more, this second context may matter more at the moment.
Trade liberalization is a noble medium-term objective.
But at a time when three key countries are wobbling on the brink of financial meltdown, unequivocal support for the international institutions that could help them is a more urgent priority. The first wobbler is Turkey, a member of NATO and an important ally in a region where the United States is short of reliable partners. Then there is Argentina, which is central to the the administration's ambition for a closer relationship with Latin America and which accounts for a fifth of emerging-market government bonds held by international investors. The third wobbler is Indonesia. With a population of more than 200 million, Indonesia is a potential counterweight to China.