The world is moving on to trade without the US
Many nations have been responding to Trump tariffs not by retaliating but by courting other trade partnersBy late last year, dealmaking picked up anew as the start of Trump’s second presidency approached. The EU rushed to finish the outline of a difficult agreement — 25 years in the making — with members of the Mercosur alliance in South America, followed by one with Mexico. Now, Mexico is hurrying to widen trade ties with fellow nations in Latin America, in part as insurance against what Trump might do next. The result: over the past eight years, as the locus of global trade shifted away from the US and towards the Middle East, Europe and Asia, nations registering big share gains included the United Arab Emirates, Poland and, above all, China. Of the 10 fastest-growing trade corridors, five have one terminus in China; only two have a terminus in the US
