Seeking shelter from Trump’s fury, U.S. trade partners reach deals with each other
U.S. trading partners are adjusting their economic strategies in response to President Donald Trump’s frequent use of tariffs and renegotiation of trade agreements, prompting traditional allies to pursue new trade deals with each other. The European Union has recently finalized long-negotiated agreements with India and South American nations, while some central banks and investors have reduced dollar holdings, reflecting concerns about policy unpredictability. “Our trading partners are discovering that the largely one-sided deals they concluded with the U.S. provide little protection,’’ said former U.S. trade negotiator Wendy Cutler, senior vice president at the Asia Society Policy Institute. “As a result, trade diversification efforts by our partners are on turbo charge, looking to reduce dependence on the U.S.’’
