Ending the "raw deal of 'free' trade", Union govt withdraws from Luthorian Commonwealth 13 August 5427
Making good on a campaign promise widely believed to be responsible for the
largest single-party electoral victory in a generation, the Labour and Co-operative Union administration has sent official notice to ambassadors of all signatory states of
the Commonwealth of Luthorian Nations that on 31 December 5427 Tropica's affiliation with that body will cease.
Union Prime Minister Otikoro Watihana made withdrawal a central platform for his party after several prominent Tropican economists penned an op ed in
Nikutabi Today outlining that the free trade stipulations of the Commonwealth contributed significantly to increased prices on various goods exported from Tropica to the more developed economies of the Commonwealth. The op ed, published on the
25th anniversary of Tropica's accession to the Commonwealth and one of
NT's most read articles in 5425, argued that though some of Tropica's privatized businesses did benefit from this arrangement, Tropica's bedrock cooperatives struggled to compete with prices paid by Luthorian and Hutorian multinational corporations, contributing to an unprecedented number of cooperative failures in the first quarter of the 55th century. The article and its political backers noted that the Commonwealth's economic costs were not worth the benefits for the people of Tropica, which largely consisted of cultural and sporting affiliations (which exist outside of the framework of the Commonwealth) and in untaxed trade with Commonwealth nations. On the last point, Union politicians were quick to point out that
Luthori does not impose tariffs on any nations, and
Hutori imposes only reciprocal tariffs, meaning the two largest Commonwealth economies will still be largely accessible to the Tropican market.
The news has led to some instability in markets trading in Tropican futures and currency as further reforms in favor of cooperatives over private business seem likely in the coming months.
Nikutabi Today is an independent local newspaper in the Tropican capital that covers news, culture, politics, economics and sport
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