News Snapshot:
Against the backdrop of stagnation in the World Trade Organization, friction between China and the United States, and growing anti-globalization, momentum has shifted toward regional and bilateral free trade agreements. A free trade bloc of developed economies, led by the US, is gradually being forged. The US and Japan reached a trade agreement on tariff concessions in October last year. Some of the members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, such as Canada, Australia and New Zealand, have expressed interest in joining the pact, raising the prospect of a giant transpacific and transatlantic FTA involving more than...
