Scott Lincecum

signed one with almost the entire Pacific Rim.

signed one with almost the entire Pacific Rim.

Europe has been on a free trade rampage.

Europe has been on a free trade rampage.

Finalizing its deal with the Latin American bloc, then inking a deal with India, and just this week signing another agreement with Australia.

Finalizing its deal with the Latin American bloc, then inking a deal with India, and just this week signing another agreement with Australia.

Scott Lincecum is VP of Econ and Trade at the Cato Institute.

Scott Lincecum is VP of Econ and Trade at the Cato Institute.

Now, you may be thinking, oh, well, the U.S.

Now, you may be thinking, oh, well, the U.S.

has signed a bunch of deals, too.

has signed a bunch of deals, too.

Yes, but those deals are very different.

Yes, but those deals are very different.

For starters, they're not very detailed.

For starters, they're not very detailed.

Ambiguities mean uncertainty, a vague deal with just a few broad terms.

Ambiguities mean uncertainty, a vague deal with just a few broad terms.

Like Europe has to pay a 15 percent tariff, but maybe not on pharmaceuticals.

Like Europe has to pay a 15 percent tariff, but maybe not on pharmaceuticals.