• The past two weeks have brought a rapid evolution in the US-centered escalation of trade protectionism. United States-Mexico-Canada Agreement-compliant goods from Canada and Mexico, covering 37.8% and 48.9% of US imports, respectively, get a one-month reprieve, while Canada has applied retaliatory duties.
– Similarly, mainland China has reacted to additional US duties on goods with a more impactful set of duties including on soybeans. The Trump administration is also attempting to revive the US shipbuilding sector, including proposals for port fees for mainland Chinese-built or -...