TRADE in ACTION – May 19, 2017

This week in TradeinAction: On the US side, Robert Lighthizer was sworn in as new USTR, President Trump met with President Santos of Colombia and President Recep Tayyip Erdogan of Turkey.

 
Meanwhile in Europe: The European Court of Justice’s ruling on the EU’s trade deal with Singapore will change the way trade deals are negotiated in the EU. French President Emmanuel Macron meets German Chancellor Angela Merkel in Berlin to discuss the future of Europe while the European Commission and European Central Bank meet to discuss further financial  integration at a joint conference. 
Upcoming: President Trump leaves on Friday for a nine-day, five-city foreign excursion, his first trip outside the United States as the country’s leader and top diplomat (Saudi Arabia, Israel, Belgium, Italy).

SPOTLIGHT
A New Era for Infrastructure? 

President Donald Trump will propose $200 billion in infrastructure spending over 10 years in his first budget on Tuesday – funding the administration believes will boost private, state and local spending on projects (Reuters). Earlier this week, experts met at the Atlantic Council to discuss the investment opportunities in US infrastructure and different options of how the ambitious plan can be financed. Missed the event? Watch the webcast here. 

 NAFTA Renegotiation: Recalibrating North American Economic Relations

The US Senate voted to confirm Robert Lighthizer as United States Trade Representative last week, rounding out President Donald Trump’s cabinet and giving momentum to his trade agenda. In the coming weeks, the new USTR meets with congressional trade leaders to discuss the administration’s plan to renegotiate the North American Free Trade Agreement (NAFTA). What does the road ahead look like? What are points of criticism towards the current NAFTA agreement and how can a revised agreement catch up with the 21st century? Bertelsmann’s Michael McKeon has the answers.

TRADE
Official Letter: USTR Lighthizer Notifies Congress of Renegotiation of NAFTA, Executive Office of the President
News: Trade Deal Ratification Needs Member States, EU Court Says, Eszter Zalan, EU Observer 
News: Mnuchin Said to Start Review That Could Ease Volcker Rule’s Bite, Benjamin Bain & Jesse Hamilton, Bloomberg 
News: Cohn, Mnuchin Visit Capitol Hill to Discuss Tax Reform, Naomi Jagoda, The Hill
Video: Mnuchin: The Ex-Im Bank is an Important Tool, CNBC 
News: ‘No deal yet’ in Mexican Trade Talks with Ross Seen as NAFTA Warm-up, Adriana Barrera, Reuters 
News: Macron to Germany: No Rush into Eurozone Reform, For Now, Pierre Briancon, Politico
News: EU Grants Sri Lanka Improved Access to its Market as Incentive for Reform, European Commission
Analysis: What Has President Trump Done So Far on Trade? Sean Hackbarth, US Chamber of Commerce
Policy Brief:How Fast Can America Grow? Committee for a Responsible Federal Budget
Analysis: Low Productivity Remains a Barrier to Trump’s Ambitions, Financial Times
Opinion: The Trump Trade: Executive Disorder, Financial Times
Video Series: The Crossroads US – Mexico Trade: Inside US – Mexico Trade, Samuel George, Bertelsmann Foundation
Latin America/Caribbean: Regional Economic Outlook: Tale of Two Adjustments, International Monetary Fund

TWEET/ FACTOID OF THE WEEK

tweet of the week may 19

GLOBALIZATION
News: China Pledges $124 billion for New Silk Road as Champion of Globalization, Brenda Goh and Yawen Chen, Reuters
Analysis: Can Globalization Survive a Barrage of Cyber Attacks?, Jeff Spross, The Week
Speech: Belt and Road Initiative: Proven Policies and New Economic Links, Christine Lagarde, International Monetary Fund
Opinion: Globalization’s Ill Effects have been Wildly Exaggerated, Robert J. Samuelson, The Washington Post 
Analysis: Could China Save Globalization? Jonathan Woetzel, LinkedIn

UPCOMING
EVENTS
May 25: Lecture: Early Modern Globalization through a Jesuit Prism, Washington, European Union Delegation to the United States
May 25: Trade, security, and the U.S.-Mexico relationship, Brookings
May 25: Why, After 200 Years, Can’t Economists Sell Free Trade? Peterson Institute for International Economics
June 15: The Ukrainian Economy: Challenges and Prospects, Atlantic Council 
June 20: International Forum on Women and Trade, European Commission, International Trade Centre, Brussels 

Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
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.

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