LONDON — Two of the world’s biggest trading blocs are cautiously eyeing closer ties to short-circuit Donald Trump’s tariffs.
The European Union and a 12-nation Indo-Pacific bloc are opening talks to explore proposals to form one of the largest global economic alliances, multiple people with knowledge of the talks told POLITICO.
Canada is spearheading the discussions after Prime Minister Mark Carney called on middle powers to buck trade war coercion last month, days after Trump threatened to raise tariffs on Denmark’s European allies if it didn’t cede Greenland.
Ottawa is “championing efforts to build a bridge between the Trans-Pacific Partnership [CPTPP] and the European Union, which would create a new trading bloc of 1.5 billion people,” Carney told world leaders and the global business elite in Davos.
I like the idea of working around the US. But, I don’t like that these trade deals are typically designed to help big businesses, not individuals. Like, even back in the good ol’ days when NAFTA was in place, maybe Canadian businesses could import from the US without any tariffs. But, I, as an individual consumer, couldn’t buy something from the US without being hit with a big duty payment. In addition, the deals often have things in them that prevent participating countries from having sane laws if those laws interfere with businesses at all. For example, the only reason that anti-circumvention measures exist in Canada is that it was a condition of trade deals that Canada adopt the worst parts of the DMCA.
Future deals should allow individual people to buy things cheaply overseas, and not just allow businesses to do that. They should also address the freer movement of people between countries. And, they shouldn’t prevent countries from adding laws that protect people or the environment.
Good on her ☕
good. I was unaware of the CPTPP.
The European Union and a 12-nation Indo-Pacific bloc
Politico forgetting the UK is a CPTPP country as well.
I remember a lot of jokes from EU politicians about how silly an idea it was. How the turn tables eh?
No need to gloat. You’re still not in the EU. Happy with your blue passport, eh?
Hmm, pretty sure there’s been plenty of gloating from your side bud.
I started warning against Brexit around 2013, but I have to admit that witnessing the slomo carcrash since has had a few itoldyouso moments.
You’ve fallen for the propaganda I’m afraid. Goods trade is down, but services is up. Net effect is fuck all.
Yes you are right; it seems I’ve been listening too much to the guardian and my British friends who have lost their jobs. And to the man in the street that I talk to during my vacations in the uk. Mea culpa!
Feelings are not facts though. And the Guardian is not a great place to get unbiased views on leaving the EU.
CPTPP is such a stupid name. Say what you will about the US, but at least they try to get good acronyms for everything
I loved it pronounced so many time in this video: https://youtu.be/brZgN-DDtV8
Yep, I saw it, was hilarious. The host almost broke laughing once or twice
USMCA is better?
No, and I got the vibe Trump was the only one that liked it.
CUSMA and MACUS are at least pronounceable, though, so it works for the rest of us.
Captain PP.
This goes hard
Its just a perfunctory acronym.
Same as the US ones ever were…
AUSFTA. BUSFTA. DRCFTA. CUSFTA. USCFTA. PUSTPA. TTIP. NAFTA. FTAA. USTFTA.
Yeah, they really roll off the tongue.
NAFTA wasn’t bad at all
The point of listing the others is that NAFTA being pointed to as a ‘good sounding’ or ‘well-named’ acronym is that it’s completely by accident.
The US almost always titles their trade agreements [country initial]USF(ree)T(rade)A(greement), and their title becomes their acronym.
Near zero thought goes into it.
PATRIOT Act, KOSA, etc
I didn’t realize those were trade agreements.
See Petey pee-pee
It sounds like someone blowing a raspberry. The terrible name notwithstanding, I hope Carney can pull this off. I found him a bit disappointing in his first quasi-year in office but this would really deliver on his promise of Canada being a leader of the middle powers.
