With an actual deal, with definitive text and conditions, now in place, I wanted to share a few initial reactions. I have not seen all the details and many of them are technical and not ones I'm well-suited to judge. To get a general sense of my take on the equities and stakes involved, see this exchange I did with David Frum back in April. This was on the basis of the tentative agreement. But most of the discussion remains as relevant today as it was then.
There are many things to say. But here's the one I want to focus on for the moment. As I said, many of the issues involved in these deals are technical. And as much as people pretend otherwise, most of us are dependent on technical experts to make sense of who got the better of different compromises. With that said, at a basic level I trust the people negotiating on the U.S. side, subject of course to hearing anything over the coming days that gives me some reason to rethink that assumption.
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