Thursday, July 06, 2017

A change in global trading?

Japan and the European Union have given their ok to a trade deal that will cover nearly 30 percent of the global economy, 10 percent of the world's population and 40 percent of global trade. The "agreement" requires more work as it only describes broad outlines. If it does eventually go through, it would lower trade barriers for a sweeping array of products, including pork, wine, cheese and automobile and would also protect so-called “geographical indications” — products that derive their identity by being produced only in a specific region, like champagne or parmesan. The deal would make U.S.-made goods relatively more expensive and less competitive in the major markets of Japan and Europe.

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