International trade policy requires three traits to be successful and lead to mutual prosperity. Trump’s is missing all three, as he showed at the G-7 summit.
Trump has made some big promises on trade.
EPA/Tannen Maury
With no sign of resolution in the near future the collapse of multilateral trade negotiations, tagged as the Doha round, risks breeding a major crisis.
China didn’t get a seat at the TPP table (even in Beijing).
Reuters
Some say the 12-nation Trans-Pacific Partnership was designed specifically to exclude or even encircle China. So do its leaders mind being on the outs?
Japan agreed to lower tariffs on beef as a part of the Trans-Pacific Partnership.
Reuters
Japan’s decision to lower or eliminate tariffs on rice, pork and beef may end up giving the prime minister a headache as he tries to get the trade accord through Parliament.
About 98% of US exporters are small businesses.
Cargo ship via www.shutterstock.com
The US may be closer than people think to a deal over geographical indications, laws that protect products based on their location such as Champagne, Darjeeling tea and prosciutto di Parma.
Over the next few weeks, the trade minister will be under intense pressure to renege on the government’s commitment to reject anything in the Trans Pacific Partnership that could undermine the PBS.
Even if President Obama gets his fast-track trading authority, his Pacific trade legacy faces a long slog.
Dark road via www.shutterstock.com
The fierce debate in the US Congress that almost derailed the president’s trade agenda is likely to replay itself in many of the 11 other capitals that are party to the deal.
Unimpressed MEPs take a stand on TTIP.
EPA/Patrick Seeger
MEPs are fuming that they were denied a debate on the controversial trade deal.
If the proposals are agreed, they could delay the market entry of generic medicines in the region – and the impact will be felt around the world.
Jeng_Niamwhan
Seven rounds of negotiations for the Regional Comprehensive Economic Partnership have already taken place with virtually no public debate. The next round of negotiations begins today in Kyoto, Japan.
President Clinton trumpeted NAFTA’s labor protections when he signed the deal into law in 1993.
Reuters
Washington is in the midst of a heated debate over President Obama’s proposed Trans Pacific Partnership (TPP) Agreement. It certainly has created some unorthodox political bedfellows. The president is…
Fast-track proponents say passing trade promotion authority is key to supporting US exports.
Reuters
Passage of trade promotion authority is still far from certain, but yesterday’s Senate vote may signal good news for the trade deals it’s meant to help.
You’re right to look sceptical – a Brexit will be difficult at best, impossible at worst.
Andy Rain