The Financial Times on how the Trump administration is putting further trade pressure on China
- The new Nafta deal with Canada and Mexico includes a provision that would require its two neighbours to give notification of any trade negotiations with a "non-market economy"
Speaking on Saturday, a senior White House official said the US would try to replicate the provision in future trade deals with the EU, Japan and the UK
Says the (unnamed) official:
- "Will this be a precedent for the future? Absolutely"
- "It is important that we make sure that any agreements we enter into do not ultimately get undermined and [that] China does not find a backdoor way to gain access to the US market."
More here at the FT article, which is gated
All this negative news on US / China relations will continue to be a headwind for the Australian dollar. And don't even get me started on any Australia /US discussion that seeks to enforce such a China provision on Australia. .
