As for trade, look at the forest, not the tree!

According to the most recent data from the World Economic Forum, 119 other countries enjoyed greater market access than did the United States. This means that exporters from 119 other countries faced lower tariffs than did U.S. exporters. The difference may be even larger now because more trade agreements have been forged. According to the WTO, there are more than 250 bilateral and regional trade agreements in force today. The United States is party to 14 agreements, covering mostly small countries. But make no mistake, those 250 agreements are not “free-trade agreements.” These agreements create trade preferences that, in effect, exclude the United States. Clearly, the problem is not the trade agreements that we have. It is the trade agreements that we do not have.

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Historic but not without precedent

We are living through a historic moment but it is not without historical precedents that offer lessons for recovery. To be more specific, mistakes made after the 1918-1919 Spanish Flu pandemic contrib

Richard Holwill  |  +1-202-285-3570  |  rnh@holwillandcompany.com

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