NY Times: As E.U. and Japan Strengthen Trade Ties, U.S. Risks Losing Its Voice
Way to go Mr. Art of the Deal, Donny.
https://www.nytimes.com/2017/07/06/business/eu-japan-trade-us.html
LONDON — In the master plan advanced by President Trump, an unabashedly aggressive United States is supposed to reclaim its rightful perch as the center of the commercial universe, wielding its economic dominance to dictate the rules of global trade.
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Major economies show no inclination to accept American designs on trade — an attitude on display on Thursday as the European Union and Japan agreed to the broad outlines of a free trade deal before a summit meeting of world leaders. If completed, the deal would further the exchange of goods and services between their two markets while, in relative terms, diminishing opportunities for American companies.
These two trading powers, both bedrock American allies, are effectively proceeding with plans to bolster globalization just as the United States is turning to protectionism. Large areas of the global economy are now on divergent paths, creating more uncertainty for multinational companies.
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In taking this approach, the United States risks having less of a voice in the global trade discussion as other economies take their own paths.
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