wait but i thought we made 180 trade deals with 180 countries? what happened to our glorious trade deals?
Consistent-Study-287 on
Submission statement:
Why is this relevant for r/neoliberal:
It involves free trade.
What people should discuss:
The US strong armed many countries into making ‘trade deals’ under threat of tariffs. With the tariffs being ruled unconstitutional, the trade agreements countries were agreeing to are oftentimes worse than what the current tariff level is, which removes the incentive of countries to honour these agreements.
While countries probably don’t want to draw Trump’s ire, it may become politically difficult to follow through on what they promised in these trade deals when the threat has changed.
India in this case was making concessions to reduce their tariff rate to 18%. It is now 15%, so why would they make any concessions.
2 Comments
wait but i thought we made 180 trade deals with 180 countries? what happened to our glorious trade deals?
Submission statement:
Why is this relevant for r/neoliberal:
It involves free trade.
What people should discuss:
The US strong armed many countries into making ‘trade deals’ under threat of tariffs. With the tariffs being ruled unconstitutional, the trade agreements countries were agreeing to are oftentimes worse than what the current tariff level is, which removes the incentive of countries to honour these agreements.
While countries probably don’t want to draw Trump’s ire, it may become politically difficult to follow through on what they promised in these trade deals when the threat has changed.
India in this case was making concessions to reduce their tariff rate to 18%. It is now 15%, so why would they make any concessions.