US trade policy is evolving more slowly than expected

Significance Tai had meetings in Brussels with EU officials and business, labour and environmental leaders as she works to coalesce European support for addressing China's non-market trade practices. She is also preparing the ground for upcoming US efforts to initiate structural reforms to the WTO. Impacts New US trade deals will not be forthcoming as the administration has let its negotiating authority from Congress lapse. Biden will need to soften WTO rules on non-discriminatory treatment in government procurement to implement his 'Buy American' plans. Congressional support for confronting China, including on trade, will continue to harden.

Uruguay trade deals will be key to boost recovery

Significance The move is part of a trade offensive by President Luis Lacalle Pou, who has instructed the foreign ministry to explore possible FTAs with other countries as well. In a region marked by political conflicts and instability, Uruguay is also seeking to position itself as a model country for investors despite its small domestic market. Impacts Feasibility studies for the possible FTA with China will be done by the end of this year. Planned extra-Mercosur trade talks will clash with Mercosur norms and Argentina’s rejection of extra-bloc trade talks. The outcome of a possible referendum on the government’s key reform package is not yet clear.

An economic overview on the Federal Democratic Republic of Nepal

The Federal Democratic Republic of Nepal is a landlocked country in South Asia between China and India. Its multiple particularities across different economic sectors and the many challenges that the country has had to face across the years have resulted in a complex economic scenario and challenging conditions for its population. Having faced great political and economical turmoil, Nepal has persisted in its economic recovery, starting with tourism and currently betting on hydroelectricity, as well as trade deals between its key partners, China and India.