The Globe and Mail reports in its Saturday edition that U.S. President Donald Trump said all countries and corporations want to uphold existing deals. Guest columnist John Rapley writes that Mr. Trump insists the Supreme Court's ruling against tariffs would not change his trade strategy. He expressed confidence that countries would continue to comply with the U.S. due to the legal power he holds as President to negotiate potentially harsher terms. Mr. Trump's claim is false and other countries know it. Governments that made trade deals with him last year are reassessing them. India delayed a delegation to Washington to finalize its deal. The European Parliament also postponed ratifying the trade agreement between Brussels and Washington. As a result, governments which did trade deals with Mr. Trump last year are already starting to revisit them. The biggest beneficiaries of the Supreme Court ruling are countries which held out last year and did not do a trade deal with the U.S. They gave up nothing in negotiations, unlike countries which rushed into agreements, and now end up no worse off than them. In effect, their tariff rates have dropped. The biggest net gainer is Brazil, followed by China, India, Canada and Mexico.
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