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Alan Tonelson, RealityCheck blog, discusses trade, USMCA. Typical for trade deals: come to some conclusion at the eleventh hour or later – a high-stakes poker game. At some point, one side decides it can’t afford to have no deal, at all. It's a triumph for Pres Trump, but this may be as ineffective as the old agreement in providing incentives to bring mfg back to the US.

GCC: What this does is undercut the momentum for a Canada-China trade deal. Of all the traders, the Chinese are the worst; put the US in front of a big coalition against China.

AT: I don’t see a big coalition; many say that they got such rough treatment from Pres Trump that they’ll never again let one country [absorb] so much of their trade. In USMCA, the main changes are in automotive trade. The UK wants a deal with Canada right away and are glad for the USMCA.

Pres Trump has never said to the UK: “Once you’re out of the EU, we’ll trade with you and take care of you.”