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The abandonment of the Trans-Pacific Partnership (TPP) and statements by both the president and the new US trade authorities seem to indicate that the US is turning towards bilateralism and is likely to consider the balance of trade as the variable on which to base its policies.
The TPP could boost the geopolitical standing of the U.S. in the Asia-Pacific region. The agreement is weighed down by controversial but practical provisions such as ISDS. In order to ratify the TPP, benefits to exports and consumers must be emphasized.
This week, the Federal Reserve Bank and the Congress gave important steps to reduce the uncertainty of monetary and fiscal policies.
