Major world economies stung by US President Donald Trump’s protectionist turn struck landmark trade deals in a bid to expand market access and forge new strategic alliances.
Canada opened the door to Chinese EVs in return for lower tariffs on key Canadian agricultural products, marking a major policy shift for Ottawa and a reset between the two countries after years of poor relations.
“The world has changed,” Canadian Prime Minister Mark Carney said in Beijing, and a “new world order” is taking hold. The EU and the Mercosur bloc of South American nations on Saturday signed a free trade agreement after 25 years of negotiations.
The pact is “a symbolic rebuttal to the narrative of inevitable deglobalization,” a Brazil expert argued.