On February 2, the UK government issued a White Paper (WP) claiming to outline its Brexit plans. Light on detail, the WP is a useful checklist of the issues the UK government sees as important.
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US Congressional Republican leaders made their pitch on February 1 and 2 for handling NAFTA renegotiation and border taxes. Trump’s earlier China commitments seem to have disappeared.
The eleven countries abandoned by the US when it left the Trans Pacific Partnership on January 23 appear seriously divided about what to do next. Beijing continues to suggest their best response is a completely different arrangement centred on China.
Donald Trump announced on January 14 his abandonment of a central campaign pledge about China.
Though the world’s business press reported in mid-January that Chinese manufacturing costs grew sharply in December 2016, costs for Chinese apparel and textile makers grew far less. In November 2016 – the latest data available – the price per square metre of Chinese apparel arriving in the US was 9.1% lower than a year earlier.
Korean exports to China fell 10.9% in the first year of a free trade deal between the two countries. Chinese exports to Korea fell just 4.8%.
Crucial sourcing commitments by President-Elect Donald Trump came under fire from his own side in early December.
Steven Mnuchin, Donald Trump’s nominee as Secretary of the US Treasury, expressed disagreement with Trump’s promised China trade policy immediately after his nomination announcement.
A US Congressional committee prepared a report before the November 8 elections savagely attacking China’s good faith as a trading partner.
A November 7 leaked internal memo within the UK’s Cabinet Office claims that “it may be 6 months before there is a view on priorities /negotiation strategy ” within the UK government for the country’s exit from the EU.
The US Administration admitted on November 11 it no longer expected Congressional ratification of the Trans Pacific Partnership (TPP) during the Obama Presidency. President-elect Trump has already announced abandoning the deal will be among his first acts after his January 20 inauguration.
On October 22, Donald Trump published his work programme for the first hundred days of his Presidency.
US apparel imports from China – measured in square metres of apparel – grew during the second quarter of 2016 0,9% over the same period in 2015, after widespread misunderstandings about a 39% year on year fall in the dollar value of imports during March 2016.