Rumours of the trade deal’s death are greatly exaggerated

In some parts of the world, not least America’s capital, “trade” is a dirty word. Both Donald Trump and Joe Biden now champion protectionism, and neither president signed a single new trade deal. The World Trade Organisation (WTO) is a shell of its former self. So you might think that trade deals are history—but in fact, from South Asia to Latin America, dealmaking continues apace.

This article appeared in the Finance & economics section of the print edition under the headline “The art of the deal”