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Those who've argued that the WTO should be abolished & free trade has been a con visited upon the weak & poor, are about to see their positions stress-tested as Trump's trade war(s) get under way, seeing tariffs (& I suspect less immediately obvious non-tariff barriers) proliferate around the world.

its unclear yet if this will be uni-dimensional with countries keeping to free trade arrangements between themselves or prompt a shift to protectionism more widely?

#InternationalTrade #politics
#politics #Internationaltrade

Leaving aside what this indicates about Trump's tariff strategy, this diagram of the proportions of exports that go to the USA is a nice confirmation of the 'gravity theory of international trade' - you trade most with the countries you are nearest with... see the proportions for Canada, Mexico & Latin America.

Take note, Brexiters who think we can exchange extensive trade with EU for new relationships with distant countries... It was never going to work!

#InternationalTrade #Brexit
Chart: The US's closest neighbours have the greatest exposure in terms of trade Circles are positioned by % of each countries’ goods exports that go to the US and sized by the value of those exports in 2023. Shows Canada (77.6%); Mexico (79.6%) and Latin American countries (some over 30%) trade most with their large neighbour
#brexit #Internationaltrade

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