Politics was always going to play an outsized role in congressional deliberations on the revised NAFTA deal—now known as the U.S.-Mexico-Canada Agreement, or USMCA—as it does with most trade agreements. Assuming that President Donald Trump addresses their concerns about labor standards in Mexico and other issues, House Democrats will have to decide whether to give the president a “big win” that he can trumpet in next year’s election. Trump will have to decide whether he’d rather have that or, by refusing to accommodate their demands, a stick with which to beat up the Democrats as do-nothing partisans. The impeachment inquiry [...]
Recent signs of increased economic cooperation in the Levant, especially among Jordan, Egypt and Iraq, are sparking hope that past failed efforts to establish a regional free trade agreement may soon be revived. A bilateral trade deal between Jordan and Iraq signed in February, as well as a trilateral leaders’ summit held in Egypt earlier this year, suggest that these countries are looking to diversify their economic portfolios, deepen regional cooperation and get a leg up on post-ISIS reconstruction efforts in Iraq and Syria. However, a number of obstacles remain before these recent developments could conceivably catalyze the resurrection of [...]
The U.S. announced last week that it will begin imposing new tariffs on $7.5 billion in imports from the European Union on Oct. 18. Unless there is a quick settlement to an underlying dispute over plane-manufacturing subsidies, which seems unlikely given that it has dragged on for 15 years, American lovers of single-malt scotch, French wine and cheese, Spanish olive oil and English wool sweaters had better stock up on these and other items imported from Europe. Yet these tariffs aren’t like the others imposed so far under President Donald Trump, and it is premature to assume they signal the [...]
