Two new trade deals that come into effect today suggest a global rebalancing of commerce away from the US in response to President Donald Trumpâs protectionist policies.
A free trade deal between South Americaâs biggest trading bloc, Mercosur, and the EU came into force, and all but one African nation can now export to China tariff-free (Eswatini cannot because of its recognition of Taiwan).
The deals may have more symbolic than tangible value: The former is unlikely to reconfigure what is largely one-directional trade, from China to Africa, and the latter still faces huge political opposition in Europe. Still, they showcase how âcountries are moving on without the US,â an expert at the Center for Strategic and International Studies said.
