With a quick resolution unlikely, trade disputes may become trade blocs
The US believes now is the time to push China on trade, but the Chinese government’s nationalist base makes it unlikely to concede to US pressure, John Sitilides, principal at Trilogy Advisors, told the audience of SHIPPINGInsight. Combined with the introduction of a new defacto veto power for the US on Mexican and Canadian trade partners, this could be the start of a divided world
The USMCA, the agreement replacing Nafta, gives the US the power to deem a third party a currency manipulator and veto the trade agreements of the agreement’s co-signers, Mexico and Canada
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