If Asian economies treat USMCA talks as purely a North American matter, they could find themselves scrambling later to respond to developments that affect them.
Given China’s history of ignoring bilateral agreements, how can the EU’s modest and incremental investment agreement hope to hold China to account? A collective approach, rooted in effective transatlantic cooperation, would at least have a chance.
One important compromise Washington made was moving away from a comprehensive trade agreement and settling for a partial deal with Beijing. Over 18 months of trade tensions, the US has become more realistic about what it could achieve.