Source item

JD is right. The outcome in the US/EU trade deal can be summarized in three points: 1. Trump. Sending Ursula to “negotiate” with Trump is like an MMA match between Jon Jones and Sabrina Carpenter. You can send her to accept his deal but not much else. 2. Impossible to have a BATNA with 27 countries as varied as the EU. You enter the negotiation with a big disadvantage. 3. Energy Dependence. Europe virtue signaled its way to a loss of energy independence over the past decade which created a huge strategic weakness entering the negotiation. It will be written as one of the worst socio-economic “own goals” in history. To the extent the outcome was lopsided is because these three elements worked together to give President Trump tremendous leverage and Europe with few options.