What are the top 10 developments in international trade and tariffs?

1. The US-China trade war: The ongoing trade conflict between the US and China has resulted in both countries imposing tariffs on each other’s goods, leading to a decrease in trade between these two economic giants.

2. The formation of the United States-Mexico-Canada Agreement (USMCA): The USMCA was established to replace the North American Free Trade Agreement (NAFTA) and aims to modernize and improve trade relations between the three countries.

3. Brexit: The United Kingdom’s decision to leave the European Union has significant implications for international trade and tariffs, including the potential for new trade agreements and tariffs between the UK and its trading partners.

4. Changing trade policies in the Trump administration: The Trump administration has implemented several changes to US trade policy, including increased tariffs on steel and aluminum and negotiations for new trade agreements.

5. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): The CPTPP is a free trade agreement between 11 countries, including Australia, Canada, and Japan, which aims to promote economic integration and reduce tariffs.

6. The African Continental Free Trade Area (AfCFTA): The AfCFTA is an agreement between African countries that aims to increase intra-African trade and reduce tariffs.

7. Expansion of free trade between the European Union and Japan: The European Union and Japan have expanded their free trade agreement, which reduces or eliminates tariffs on a wide range of products.

8. The imposition of retaliatory tariffs: Some countries have responded to the imposition of tariffs by imposing their own retaliatory tariffs on the goods of the imposing country.

9. The increasing role of digital trade: Digital trade, or the exchange of goods and services online, has become increasingly important in international trade and may have implications for tariff policy.

10. The rising importance of environmental and labor standards in trade agreements: Trade agreements are increasingly addressing environmental and labor standards, which can impact tariff policy and the conditions under which goods are produced and traded.