India-UK Trade Deal Shows Globalization Is Ticking Along
President Donald Trump may say 'tariffs' are his favorite word, but the rest of the world doesn't have to agree. With or without America, trade deals continue to be signed: On Tuesday, India finalized a pact with the UK after three years of negotiations.
Perhaps India found it easier to drop tariffs with the UK because neither is good at making things anymore. Manufacturing is not globally competitive in either India or Britain. Both have world-beating services sectors, though. It will be interesting to see if the fine print exposes powerful interest groups like New Delhi's law firms to competition.
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