When the United States sits on the sidelines, the rest of the world is going to find its own trading way...
The numbers tell the story:
- At least 266 bilateral or regional trade deals are in force, according to the World Trade Organization, and there are roughly 100 more of which the WTO has not yet been formally informed.
- The United States is a party to only five of the 64 trade pacts that have taken effect since 2005 -- with Australia, Morocco, Bahrain, Oman and Peru.
- Overall the United States has trade deals with only 17 countries including Canada and Mexico under Nafta.
- The EU has struck deals on trade ranging from customs unions to larger free-trade agreements with 40 economies.
The danger is that U.S. companies could find themselves on the wrong side of deals negotiated among other countries, says the Journal...
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