Huge Asian trade pact to be signed in coup for China
Fifteen countries will on Sunday sign a sprawling Asian trade deal they hope will help them bounce back from the pandemic and which is seen as a huge coup for China in extending its influence.
The Regional Comprehensive Economic Partnership (RCEP) -- which includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia -- will be the world's largest trade pact in terms of GDP, analysts say.
The agreement to lower tariffs and open up the services trade within the bloc does not include the United States and is viewed as a Chinese-led alternative to a now-defunct Washington trade initiative.
The RCEP "solidifies China's broader regional geopolitical ambitions around the Belt and Road initiative", said Alexander Capri, a trade expert at the National University of Singapore Business School, referring to Beijing's signature investment project that envisions Chinese infrastructure and influence spanning the globe.
https://www.yahoo.com/news/huge-asian-trade-pact-signed-002503549.html
Heckuva job Trumpy.
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I don't know if this has anything to do with trade deals, but I live in Japan and have been ordering Land's End clothing for my husband for decades (too nerdy and expensive for me). Last time I tried to order I was shocked by an outrageous duty on ordering. That never happened before. On a ¥25,744 order total the duty was ¥31,700. Come on, man. I'm going to go ahead and blame Trump.
