On March 25, the European Union celebrated the 60th Anniversary of the signing of the Treaty of Rome. They signed the Rome Declaration which resolves to create a “stronger more resilient” union that is ready to address current and future challenges. A few days later, the United Kingdom officially triggered exit negotiations (as specified in Article 50 of the Lisbon Treaty).
SPOTLIGHT
Check out this week’s EconoGraphic on the trade and foreign direct investment relationship between the United States and Europe.
European Union (EU-27) and the United States are not only the two largest economies in the world, they are also among the most open and interconnected. The economic relationship between the United States and the European Union is deep and complex involving trillions of dollars worth of foreign direct investment, billions of dollars worth of trade, and production supply chains utilizing resources on both sides of the Atlantic Ocean. To learn more about the transatlantic economic relationship, check out our most recent EconoGraphics and read the newly released EuroGrowth Report
TRADE
Analysis: Trump Trade: State of Play in Charts, Robin Wigglesworth, Financial Times
Polling: Thought Leader Survey: Issues Impacting the Transatlantic Relationship, Bruce Stokes, Pew Research Center
Interview (subscription) Lawmakers Ask, Lighthizer Answers, World Trade Online
News: Trump Preparing Orders to review Trade Deals, Procurement: Officials, Lawder & Shepardson, Reuters
Opinion: Trump Unlikely to Find Trade Grass Greener, Phil Levy, Forbes
Opinion: Free Trade Opportunism? How Chinese Premier Li’s Visit Positions US on the Outer, Catherine Armitage, Sydney Morning Herald
News: Scrapping TPP Was a Mistake, Ex-Trade Representative Froman Says, Bloomberg News
Critical Read: A Trade War is Brewing Inside the White House between Rival Camps, Don Lee, Los Angeles Times
Opinion: US Further Alienates Itself on Trade, Nations look elsewhere for Partners, Claude Barfield, The Hill
Analysis: Three Strategies U.S. Trade Partners Should Pursue Post-TPP, Phil Levy, Foreign Policy
Analysis: Renegotiate Nafta? Mexicans Say Get on with It, Azam Ahmed, The New York Times
Critical Read: Why I Support a Border-Adjustment Tax, William Jones, The New York Times
Analysis: America Wins Often with Trade Referee that Trump Wants to Avoid, Andrew Mayeda, Bloomberg Politics
TWEET/FACTOID OF THE WEEK
Did you know…that even though Article 50 has been triggered, the process of Brexit is not over? Check out this informative video that details the process of legislation and negotiation through which the United Kingdom will leave the European Union!
GLOBALIZATION
News: Globalization is a Reality, Not Matter of Choice: China’s Bank Governor, Elias Glenn, Reuters
Video: See Rising Threats to US, Its Allies, and Globalisation, Dick Cheney, The Economic Times
Blog: China: Refuge For Globalization or ‘U-Turning’ From Reform? Eric Fish, Asia Society
Opinion: How Thirst for ‘Unsexy’ Data is Shaping Our View of Globalization, Benjamin Shobert, Forbes
Opinion: Green Investment Bank – the Case for Globalisation, Nick Butler, Financial Times
Panel Recap: The Value of Trade: Growing Economies Improving Lives with Richard Quest, Sultan Bin Sulayem, and President of Senegal Macky Sall, Bailey Piazza, Diplomatic Courier
WHAT WE ARE READING
Strategy Paper: Europe in 2022: Alternative Futures, Burrows & Burwell, Atlantic Council
Commentary: America Can’t Be First without Europe, Wayne & Hamilton, The Conversation
White Paper: Beyond the Equity Efficiency Trade-Off: Practical Ideas for Inclusive Growth and Competitiveness in Europe, European Investment Bank
Report: Opening the Vaults: The Use of Tax Havens by Europe’s Biggest Banks, Aubry & Dauphin, Oxfam International
Analysis: The Negotiator: Brexit Talks to Be Theresa May’s Toughest Test, Parker & Barker, Financial Times
Opinion: France’s Extraordinary Election, Dominique Moisi, Project Syndicate
Critical Read: Theresa May’s Empty Brexit Promises, John Casssidy, The New Yorker
Analysis: What the EU27 Wants from Brexit, Charlie Cooper, Politico Europe
Analysis: From MoU Exit to Grexit: Where Next for Greece? Malkoutzis & Mouzakis, MacroPolis
UPCOMING
MEETINGS
March 31: Cecilia Malmström meets with Mr. Pavel Filip, Prime Minister of Moldova
March 31: US Secretary of State Rex Tillerson attends the meeting of NATO foreign ministers in Brussels
April 6-7: Meeting of G20 ministers in charge of digitalisation in Düsseldorf
April 21-23: IMF/World Bank spring meetings
EVENTS
March 30: Negotiating Trade Authority: Remarks from Sen. Mike Lee (R-UT) on the Division of Congressional and Executive Powers, AEI, Washington, DC
April 3: A Conversation with International Monetary Fund Managing Director Christine Lagarde, AEI, (Live Stream Only)
April 3: Global Cooperation in Turbulent Times: A Conversation with Polish Deputy Prime Minister Mateusz Morawiecki, AEI, Washington, DC
April 3: Southeast’s Fifth Forum for German Small & Medium Sized Enterprises, German American Chambers of Commerce, Tennessee
April 4: Raising Venture Capital: A Trans-Atlantic Perspective, European American Chamber of Commerce, New York
April 6: The Role of the Private Sector in Global Sustainable Development, Brookings Institution, Washington, DC
April 11: CER/KREAB Breakfast on the Future of European Union Trade Policy with Cecilia Malmström, European Commissioner for Trade, Centre for European Reform, Brussels
Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
John Butler, Program Intern
Please send us suggested news stories, opinion pieces, publications, and upcoming events that you would like us to highlight! Email mkasperek@AtlanticCouncil.org with your ideas and suggestions.
The views expressed in this newsletter and linked external articles and content do not necessarily reflect the opinions of the Atlantic Council, its staff, or its sponsors.