Days before Donald Trump’s second inauguration, UK Prime Minister Keir Starmer said that he wanted to start negotiations on a trade deal with the United States as soon as possible.
Instead of supporting sustainable development, the agreement has primarily facilitated trade in environmentally harmful goods, and has also failed to introduce effective mechanisms to address sustainability challenges.
Despite criticism of the free trade agreement with the United States, Colombian President Gustavo Petro opted to reassess a series of clauses on investments and arbitration, instead of requesting a complete renegotiation.
USMCA provisions are straight out of Big Tech’s digital trade wishlist, which seeks to pre-empt the ability of governments to introduce regulations that could affect their bottom lines or hold them accountable.
A federal review of the USMCA is approaching later this year. This is a critical opportunity to demand a trade deal that prioritizes people, the environment, public health, worker rights, and innovative manufacturing
Singapore’s Foreign Minister Vivian Balakrishnan revealed that Sri Lanka, Bangladesh, and Hong Kong are interested in joining the Regional Comprehensive Economic Partnership (RCEP), which currently has 15 members after India withdrew due to concerns over its trade imbalance with China.
In response to Trump’s moves, Australian Prime Minister’s government is now trying to revive a free-trade agreement with the European Union and woo countries from Indonesia to India to the United Arab Emirates.
But to call it a ’trade deal’ with the UK would be misleading. It’s an ’economic deal’ to reduce the tariffs. It is, however, a large step forward for the UK, which has been trying to engage America in closer trade alignment since Brexit.
Chile is making progress on a trade deal with the UAE which seeks to strengthen bilateral trade by reducing or eliminating tariffs on Chilean products.