Background

In Washington, free trade is no longer gospel

“Political parties on both the right and left have shifted away from the conventional view that the primary goal of trade policy should be speeding flows of goods and services to lift economic growth. Instead, more politicians have zeroed in on the downsides of past trade deals, which greatly benefited some American workers but stripped others of their jobs.”

[The New York Times]

EU turns cold on Mercosur trade deal

“A trade pact struck in 2019 with the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay after two decades of talks promised to be the EU’s largest deal, with the removal of 4 billion euros ($4.8 billion) of import tariffs on its products. But two years later, it is unclear when - or whether - it will enter force due to Europe’s concerns over Amazon deforestation and scepticism about Brazil’s commitment to tackling climate change under President Jair Bolsonaro.”

[Reuters]

Philippines interested in joining transpacific trade deal

“Chinese President Xi Jinping in November last year said China is ‘actively considering’ joining the pact, while Taiwan has been conducting informal talks with the member countries. A year after it formally left the European Union, the United Kingdom at the end of January said it would request to join the free trade area and start negotiations this year.”

[BusinessWorld]

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