James Alexander Michie: Canada is probably excluded from the Trump world trade order | Financial Post

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Lawrence Solomon: Trump just unveiled the new trade world order. Canada not included

Author: James Alexander Michie

The president of the United States, Donald Trump, has begun a plan and commitment to begin to deregulate up to half of the world trade, which would be the trillion dollars existing between the United States and the EU, separating it from politicians and bureaucrats leaving it at that participant in the free market.

On Wednesday, this commitment was announced by the White House, jointly by US President Donald Trump and EU President Jean-Claude Juncker. They also suggested that it should start modestly by eliminating tariffs and subsidies on goods. industrialists that do not belong to the automotive area beside opening the European market to the American natural gas and the farm of goods. It is expected that EE. UU I managed to negotiate EU agricultural tariffs which now have an average of 10% as well as non-tariff barriers in agriculture.

This is a strategy by Trump to renew the world trade order, which suggests that not only the EE half is being reformed. UU-EU of the $ 2 trillion in world trade, but also aims to form an agreement to reform the other half by creating an alliance against China protecting American and European companies from the so-called “unfair business practices”, worked together with partners to reform the WTO and similarly address unfair business practices, among which the theft of intellectual property, industrial subsidies, overcapacity, among others.

While China believed it was recovering from the tariff war with the US president through various tactics, Trump established an agreement with the EU which gives a twist to China’s prospects by countering China’s retaliatory tariffs on US farmers. It should be noted that the committee established between the United States and the EU is both a geopolitical tactic and a trade agreement.

On the other hand, if Trudeau had accepted the offer given by Donald Trump, the steel and aluminum tariffs could have disappeared and in the same way possibly Canada would have reached an agreement, but now it could be considered that Canada is not within the US concerns UU since Trump’s reordering of the commercial regimes could surely harm Canada besides making it the only exception as a result of what happened at the G7 meeting, where Trudeau was seen taking a stand against Trump perhaps to win political points in your nation. Meanwhile, the United States is focused on closing an agreement with Mexico when Canada has been relegated to third-wheel status and now depends on the American president’s thanks.

Take a read: https://business.financialpost.com/opinion/lawrence-solomon-trump-just-unveiled-the-new-trade-world-order-canada-not-included#click=https://t.co/BIq0ZrFtqh

Source: Lawrence Solomon | Financial Post

 


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