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In his first week he withdrew from the unratified 12-nation Trans-Pacific Partnership. He prepared to pull out of the U.S.-Korea Free Trade Agreement (Korus) and the North American Free Trade Agreement. Earlier this year he imposed steep tariffs on imports of steel and aluminum, using a little-used national security law, and threatened the same for autos.
Today, Korus and Nafta have been replaced by updated agreements(one not yet ratified) that look much like the originals. South Korea accepted quotas on steel. Mexico and Canada agreed to higher wages, North American content requirements and quotas for autos.
These represent a step back from free trade toward managed trade, but they will have little practical effect: The limits on how many cars Mexico and Canada can ship duty-free to the U.S., for example, exceed current shipments. Mr. Trump hasn’t stopped threatening auto tariffs, but for now his officials have elected instead to seek broader tariff reductions with Japan and the European Union.
.. Meanwhile, the U.S. trade deficit that incenses Mr. Trump has grown during his presidency, especially with China and Mexico, as a strong American economy sucks in imports. His exhortations to manufacturers to bring jobs back to the U.S. have largely fallen on deaf ears.
It offers a baleful vision of the future if Americans ever tire of the battle to uphold the Second Amendment.
The head of Canada’s spy agency said state-sponsored economic espionage and cyber threats now pose a potentially greater challenge to the country than terrorism, warning that foreign actors are already targeting the domestic technology and telecommunications sectors.
David Vigneault, director of the Canadian Security Intelligence Service, or CSIS, said foreign interference and espionage are “the greatest threat” to the country’s prosperity and national interest. He also warned of the possibility of foreign interference in the country’s national election next fall.
“Plainly said: there is state-sponsored espionage in Canada,” said Mr. Vigneault Tuesday, according to published remarks at a luncheon hosted by the Economic Club of Canada. “No matter how it’s done or who’s behind it, economic espionage represents a long-term threat to Canada’s economy and to our prosperity.”
.. sectors where CSIS has observed increased activity by state-sponsored actors include artificial intelligence, quantum technology, 5G mobile networks and biopharmaceuticals.