PREFERENTIAL TRADE AGREEMENTS VS. MULTILATERALISM: IN THE NEW TRUMP-WORLD, DOES CANADA FACE AN IMPOSSIBLE CHOICE?

Abstract

International trade is often framed in starkly divergent terms: either countries choose multilateral trade agreements (MTAs) and advance the cause of global economic liberalization, or they choose preferred trade agreements (PTAs) and put the entire system at risk. Canada has a long track record of pursuing PTAs and with the Trump administration’s opposition to multilateralism, and longstanding opposition in elements of the Republican and Democratic parties, this trend will likely continue. The question is whether progress will come at the expense of the global trade system.

Keywords

• international trade
• multilateralism
• canada
• usa
• trade agreements