The spin surrounding trade deals vs. the reality of what’s included in them:
The announcements of the new deals purport to have delivered on this promise, giving Americans “unprecedented levels of market access” to Europe, “breaking open long-closed markets” in Japan, and making South Korea “completely OPEN TO TRADE with the United States.” But the details of the deals, which remain sparse, tell a very different story. None include agreements by trading partners to meaningfully reform their tax or regulatory codes, strengthen their currencies, or reduce the barriers that have long been major sticking points in prior trade negotiations. Instead, the announcements are full of vague statements of intent—“The United States and the European Union intend to work together to address non-tariff barriers affecting trade in food and agricultural products” (my emphasis)—and references to things such as “openings for a range of industrial and consumer goods.”