World Perspectives

Detailed Devil

The agreement between EU Commission President Jean-Claude Juncker and U.S. President Donald Trump may be like the earlier Kim Jong-un/Donald Trump agreement – a stalemate with too many details to be overly hopeful. The upside is that each side will refrain from imposing new duties. The concept of free trade in industrial goods is a carve-out of what was agreed in the earlier TTIP negotiations. Agriculture was not even mentioned as a negotiating area, but there was an EU commitment to buy more U.S. agricultural goods, including soybeans. That is mercantilist word-play below the dignity of two market economies. EU and U.S. companies should buy from the best value sources – period. An upside is the apparent collaborative approach...

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