Evan A. Feigenbaum
On Monday, after six months of rancor and wrangling, the United States and India at last announced an initial agreement on a trade deal. The agreement came just one week after India and the European Union sealed a formal free trade agreement that had been under negotiation for well over a decade.
The contrast is important in two respects. First, the EU’s deal is a genuine trade agreement, while Washington’s, in keeping with the pattern of negotiations under President Donald Trump, is a trade “deal”—with all the flexibility and potential for reversal that the latter implies. Bluntly put, the United States hasn’t done true bilateral or plurilateral agreements since what feels like the Jurassic period, so we should temper our enthusiasm by recognizing that one of these things is not like the other.