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The US economic partners are running to maintain the amount of trade by re -rooting the supply chains to deal with the new bilateral agreement in the Donald Trump era and to deal with increased US security.
Policy -makers and Trade Experts say that countries are leaning towards a tactic deployed for the first term of the US president, when they signed a more trade agreement with each other because the world’s largest consumer economy hindered.
Since Trump’s election in November, the EU signed a long -awaited trade agreement with the Marcosur block of South American countries, updated a free trade agreement with Mexico and reopened the discussion with Malaysia, which was closed for more than a decade.
Trump In the first days of his office, 100 percent on China, up to 25 percent threatened tariff Canada and MexicoAnd he says he is considering a blanket tariff on all US imports He has directed US government agencies to investigate trade issues, including coins and fake goods.
Malaysian Commerce Minister Tenku Zafarul Aziz told the Financial Times that Trump’s return “can actually induce the countries to make the country more diversifying in their trade portfolio.”
Aziz quotes examples of extensive and progressive agreements for trans-Pacific partnerships, which went ahead with 11 members in 2018 after withdrawing from the United States talks. The agreement was “the absence of traditional economic leaders like the United States also showed the elasticity of countries wishing to cooperate,” he said.
EU Commerce Commissioner Marros Shefkovich told the World Economic Forum in Davos that his diary is full of meetings with ministers in the Gulf country and elsewhere. He said there is a “great interest” in dealing with the EU.
The whole party of the commissioners will visit India to make trade discussions and technology partnerships in the next few months.
A European official said, “The countries that are actively dealing are by doing so freely depending on the situation in the United States,” said that Washington had a “huge gap” in the fact that Washington wanted to do and what would happen to the ground.
In Trump’s first term, the EU signed an agreement with Japan – a staunch US allies who feared economic loss from his policy – Singapore and Vietnam and eventually started negotiations with New Zealand and Chile. An EU official jokes that the President was the best EU trade commissioner so far.
When Trump was the last time in power, European Union Commerce Commissioner Sicilia Malmstrome said, “There were many agreements, who played an important role in the previous discussion in Marcosur. “We thought it was a rough world. We do not believe in trade war. We have an unexpected president who throws tariffs everywhere. Let’s see what we can do together. “
Malmstrome, now with the law firm Cowington and Berling, is expected to end with Mexico and Trump’s four -year term with Australia, Indonesia and probably the Philippines and Thailand.
European Parliament’s Committee Chairman Bernard Lange says EU’s response to Trump will add revenge tariffs to deep trade relations elsewhere. “In addition to our self -defense, we should strengthen our partnership with third countries like the United Kingdom, Mexico, Japan or Canada, who may be in crossfire.
“This means approved trade agreements like EU-Mercosur and end discussion with partners like Australia and Indonesia.”
In 2020, ASEAN countries and China, Japan, Korea, Australia and New Zealand formed regional widespread economic partnerships. RCEP has mainly reduced non-duty barriers to trade such as veterinary control and customs method. RCEP cover 2.3 billion people and 30 percent of GDP worldwide, compared to 25 percent of the United States.
African Continental Free Trade Area, which will cancel 90 percent of the tariff over time, started in 2021.
Goods and services trade Despite the Covid-19 epidemics and growing protection, the growth continues in recent years.
Washington-based Think-Tank Cato Institute Scott Linsicom said: “Whatever Donald Trump does in the next few years, everyone else seems to be unwilling to embrace expensive economic isolation and will move forward instead of just 370 trade agreements until the mid 2024 Effective where there is no sign of the impending change.
Meanwhile, China recently signed an agreement with Serbia, Cambodia, Nicaragua and Ecuador. Beijing, whom Trump sees the greatest rival in the United States, is responsible for about 30 percent of global production.
A senior trade officer, who did not want to be named, said they were “more skeptical” this time with the shaking of the agreement because it was difficult to discuss the agreements.
“Trump’s return can be a new bilateral promotion, probably in Africa. But Asia is quite sewn. I’m talking. ”
Extra Report of Im Williams in Washington
Visualization of the Genina Conbo’s Data Visualization in London
