13 JUL

Japan and Europe counter Trump with colossal trade deal

Thirty years ago, as Donald Trump gave what is widely considered to be the first campaign speech of his career, he criticized one country above all for cheating the United States in trade: Japan. On Thursday, Japan took on the mantle of the global rules-based trading system, as it sidestepped a failing trade agreement with the United States to forge a historic new pact with the European Union.

Leaders from Japan and the European Union on Thursday announced their agreement on the broad strokes of a trade deal that will cover nearly 30 percent of the global economy, 10 percent of the world’s population and 40 percent of global trade.  Read more

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