Trade war bad for everybody
Published:Sunday | June 3, 2018 | 12:00 AM
THE EDITOR, Sir:
Yes, a trade war is in the air, but it won't materialise. At this stage, it's not a good idea and presents serious concerns not just for the European Union, Canada and Mexico, but for the stability of the world economy.
Like the International Monetary Fund and the World Bank, the United States probably expected its influence to be much the same since it was the chief architect. It didn't turn out this way and the US has never held the top position of the World Trade Organization (WTO). But ever since China was admitted to full member, the US's interest in the WTO progressed from apathy to passivity.
Trump's decision only signals the end of this passivity. Hopefully, common sense and the wisdom of reflection will spur US rethinking and reversal.
EARLE TAYLOR