Trade: Celebrate Small Victories
The spinmeisters turned the volume to high in describing the deal to cut tariffs on a slew of industrial products as a "breakthrough agreement" by members of the Group of Seven in Tokyo. Hype, to be sure. Still, the move was an important step in keeping the momentum going toward liberating world trade. We can only hope that the next steps--the really tough ones--are taken to open up markets for services and agricultural products as well.
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