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Trump’s trade deals have one giant contradiction
A focus on correcting trade imbalances is wrongheaded. The goal should be to boost foreign investments.
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Foreign direct investment accounts for about one in 10 American jobs and more than 16 per cent of all US manufacturing jobs.
PHOTO: BLOOMBERG
Rebecca Patterson
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As the dust – perhaps – starts to settle after four frenetic months of trade negotiations, the biggest win for America might be a potential windfall of investment from overseas.
In an effort to avoid even higher tariffs, Japan, the European Union and South Korea have loosely pledged to directly invest a total of US$1.5 trillion (S$1.93 trillion) in the United States, equivalent to what the US government spent on social security benefits in 2024.
