One year on from his election, Donald Trump is struggling to live up to the promises he made on the campaign trail to get tough with countries that run big bilateral trade surpluses with the US. However, it is clearly too soon to sound the all-clear, especially with regards to NAFTA, where fears are growing that the deal could completely collapse. Meanwhile, hopes that EMs, led by China could pick up the free-trade mantle from the US, are likely to disappoint.
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