Wall Street Journal - Trade Deal or No Deal
After Trump reneged on Mexico, why should the U.K. trust him?
By the Editorial Board
June 4, 2019 6:57 p.m. ET
Let’s make a trade deal. That was President Trump’s line Tuesday at a London news conference with Britain’s soon-to-be-ex Prime Minister Theresa May. “As the U.K. makes preparations to exit the European Union,” Mr. Trump said, “the United States is committed to a phenomenal trade deal between the U.S. and the U.K. There is tremendous potential in that trade deal.”
Where else have we heard such superlatives? At a Nov. 30 signing ceremony, standing alongside Mexico’s then-President Enrique Peña Nieto, Mr. Trump pitched his new United States-Mexico-Canada Agreement to replace Nafta. “The USMCA is the largest, most significant, modern and balanced trade agreement in history,” Mr. Trump said, lauding the pact as “amazing,” “robust,” “groundbreaking,” “ambitious,” “landmark” and “incredible.” He called it “a model agreement that changes the trade landscape forever.”
Last Thursday, exactly six months later, Mr. Trump ignored the USMCA as he said he will invoke emergency powers to place escalating tariffs, up to 25%, on all Mexican imports. The taxes will be removed at Mr. Trump’s whim after Mexico takes unspecified action to “stop” illegal border crossings.
Getting the USMCA deal took more than a year of negotiations. In April Mexico’s Legislature overhauled the country’s labor law as stipulated by the agreement. Political capital has been spent on both sides of the Rio Grande. And for what, if Mr. Trump, in a fit of pique any random Thursday, will put 25% tariffs on anything and everything?
A trade deal between the U.S. and Britain would benefit both sides. It’s an important goal if the Conservative Party’s next Prime Minister wants to make the optimistic free-market case for Brexit. Alas, Mr. Trump is proving himself to be an unreliable trade partner.
Appeared in the June 5, 2019, print edition.
"Darwin was the first to use data from nature to convince people that evolution is true, and his idea of natural selection was truly novel. It testifies to his genius that the concept of natural theology, accepted by most educated Westerners before 1859, was vanquished within only a few years by a single five-hundred-page book. On the Origin of Species turned the mysteries of life's diversity from mythology into genuine science." -- Jerry Coyne
Wednesday, June 5, 2019
This is the 1st of 2 Wall Street Journal articles about the extreme stupidity of President Fucktard Trump.
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2019/06 JUNE,
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Wall Street Journal
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