Donald Trump’s commercial offensive response seems to be organizing. Singapore, the United Arab Emirates and New Zealand will announce the creation of a new group to defend the “rules -based trade”, reports the Financial Times. This group of states should be called “FIT-P”, for “future investment and commercial association” (Investment and Commercial Association). Ten countries will be there. Morocco, Rwanda, Malaysia, Uruguay, Costa Rica, Panama, Paraguay and Norway would join the initiative according to the diplomats interviewed by the British newspaper.
The EU approaches the countries of the Transpacific Association Agreement
In recent months, Donald Trump has deeply sliced international trade cards by operating what he calls “a strategic realignment of economic relations for the benefit of the US people.” The US president forced the majority of its commercial partners to accept unbalanced framework agreements, especially providing a unilateral recovery in customs tariffs of products imported by the United States. The White House has also demanded that interested countries, such as members of Japan or the European Union, invest hundreds of billions of dollars in US soil.
Some observers, such as Olivier Blanchard, former chief economist of the International Monetary Fund, had recommended opposing these asymmetric agreements through the creation of coalitions among the states interested in defending the previous order of international trade. These initiatives are currently embryonic even if the EU has announced that it was intended to approach the countries of the Transpacific Association (TPP) association, gathering in particular Australia, Canada, Japan, Mexico, Singapore, New Zealand, the United Kingdom or Viet Nam.
Source: BFM TV
