To get a decent deal, Theresa May will need to play Trump’s game

Britain will pay the price if more countries follow Trump’s lead and the rules-based global system continues to deteriorate, writes Daniel Gros

When it comes to bilateral trade, gains and losses are distributed asymmetrically between the larger and the smaller economy.

In the best of times, that would be bad news for the United Kingdom as it seeks new trade deals with the European Union and others. And these are not the best of times.