Trade tensions
rumble on, with whiplash-inducing tweets from the White House: from ‘tariffs
are the greatest’ to we are ‘believers in no tariffs, no barriers and no
subsidies’ within 24 hours. And although there was good news as well –
the EU/US truce (for now) and the EU/Japan FTA – the global trade system faces
deep challenges. Unfortunately, the emerging global trade tensions are
unlikely to be resolved quickly.
A cottage industry
has emerged to identify those economies that are most exposed to trade
conflict. One of the common themes is that small economies are
particularly exposed.
