The dynamics of trade are changing.
Perhaps this is nothing new, trade has always evolved and changed, but I think we would be hard pressed to find an instance in modern peacetime when trade has been asked to adapt so quickly. TPP, Brexit, NAFTA, and steel tariffs, which would have been the biggest stories just months ago, are now muffled background noise to the rhetoric of a Trade War between two of the world’s most important economies.
2017 is in the books and was, by many accounts, a tumultuous year for the world. President Trump began his presidency that continues to transform world politics, the U.K. triggered Article 50 to begin the Brexit process, Mohammad bin Salam in Saudi Arabia is reshaping the Middle East, there is saber-rattling on the Korean Peninsula, and I have not even mentioned China.
Every corner of the world is experiencing a level and a speed of change and transition that we typically only see in wartime. There was also that solar eclipse in North America. How cool was that?
International affairs is on top of everyone's mind these days, especially as a new US administration transitions into power. Questions about trade agreement, tariffs, and foreign policy swirl, and while no one has the ability to see into the future, a look at the actors, some of their statements, and some of the law behind it all may help companies at least prepare for the future state.