American lawmakers in the 1930s learned the hard way what happens when a country raises tariffs and makes other unilateral trade decisions.
Negotiators from 11 countries have been racing to resurrect the near-dead Trans-Pacific Partnership Agreement before the Asia-Pacific Economic Cooperation (APEC) summit this weekend.
A flurry of policy reversals in recent weeks suggests Trump has changed his tune from his populist campaign promises. Has he?
The message from the US vice-president was that the US would stay the course and, if anything, act more assertively in preserving stability in the Asia-Pacific region.
Nothing less than the fate of the global economy lies in the balance as the two strong-willed leaders sit down for their first one-on-one meeting.
Trade under Trump will mean more bilateral agreements, hard bargaining and ultimatums, a sharp departure from Obama's multilateral, win-win approach.
Trump's 'America first' rhetoric implies that the internationalism and ‘enlightened self-interest’ that built the postwar order was a big mistake. The evidence and basic economics disagree.
Policymakers need to think outside the narrow confines of what has been regarded as “America first" policy postures that have dictated Australia’s foreign policy choices.
The agreement could be as good as dead, if, instead of pushing ahead without the US, its members decide to explore bilateral trade agreements with the country.
The TPP can't go ahead in any form, so its time the Australian government lets it go.
Trump formally pulled out of the Trans-Pacific Partnership and signaled his intention to begin renegotiating NAFTA. Here's some context.
Xi Jinping is the first Chinese leader to attend the World Economic Forum and used his speech to denounce protectionism. But China's trade liberalisation has stalled recently.
It seems in the current global turbulence multilateral trade deals are dead, long live bilateral agreements.
We could be witnessing the beginning of globalisation going in reverse.
Where do we go from here? After a dramatic year, we look ahead to some key economic and political trends that will influence our lives over the next 12 months.
The main arguments in favor of the TPP were economic. But there's another reason the Trump administration should rethink its promise to nix it: Its demise will weaken US national security.
The United States and other countries are right to reject the TPP, but President-elect Donald Trump's claims about it are misguided.
The federal deficit will be worse in 2017-18 than predicted in the May budget, despite some easing in the delays imposed by the Senate, Deloitte Access Economics' budget monitor predicts.
A stalled Trans-Pacific Partnership opens the way for China, which was excluded from the agreement, to assume leadership in regional economic integration efforts in the Asia-Pacific.
If Beijing can bring its neighbours to accept its regional leadership, China would have successfully achieved a dramatic reduction of US influence.