Trade Archive

The United Kingdom’s delayed departure from the European Union and the implementation of a hard-fought, post-Brexit trade agreement on Jan. 1 have led to the most significant rise in barriers between any major trading partners in recent memory. With trade volumes between the U.K. and the rest of the EU having grown significantly since the 1990s, particularly through the establishment of regional or global value chains, there is no meaningful precedent to draw on when projecting what comes next, other than the general experience that higher trade barriers mean less trade and more economic loss. It is early days, but […]

If “European strategic autonomy” were a hashtag, it would be trending. But it’s a phrase that has as many different meanings as there are people using it. At the most basic level, it refers to Europe’s ability to defend and advance its interests in a global arena increasingly characterized by strategic competition among great powers. How and in what areas it should do so, though, and to what ends, are the subject of a high-stakes debate still taking shape. The recently concluded investment agreement between the European Union and China highlights how the concept of European strategic autonomy has moved […]

Editor’s Note: Guest columnist Daniel McDowell is filling in this week. Presidential pledges to revitalize American manufacturing are one of the few remaining vestiges of bipartisanship in Washington. Back in 2012, President Barack Obama used the word “manufacturing” 15 times in his State of the Union address—more than “security” and even the “economy” itself. Striking an optimistic tone about the potential for an industrial comeback, Obama criticized policies that encouraged American manufacturers to move jobs overseas, and he called on U.S. business leaders to consider bringing production home. Four years later, then-candidate Donald Trump blamed Obama’s love of globalization for […]

Editor’s Note: Every Friday, Andrew Green curates the top news and analysis from and about the African continent. Subscribers can adjust their newsletter settings to receive Africa Watch by email every week. Africa rang in the New Year with the official launch of a new, continent-wide free trade zone. The African Continental Free Trade Area, or AfCFTA, aims to bring 1.3 billion people into a $3.4 trillion economic bloc, creating a single market for goods and services that could significantly boost intra-African trade and investment. However, implementation of the agreement is expected to be slow, as experts and officials from […]

Editor’s Note: Guest columnist Daniel McDowell is filling in this week. “The exchange rate is the most important price in any economy, for it affects all other prices,” as Harvard political economist Jeffry Frieden put it. Since the U.S. dollar is the most widely used currency for cross-border exchange and investment, it is fair to say its value is the most important price in the global economy. Though American presidents have limited control over the dollar’s value, their words and their policy choices still carry weight. After four years of an unconventional dollar policy under President Donald Trump, what should […]