This week in TradeinAction: In the United States, President Trump released his budget for the fiscal year 2018. Meanwhile in Europe: The Group of Seven (G-7) Summit in Taormina, Italy starts tomorrow, and Chancellor Merkel meets with former President Obama in Berlin and then with President Trump in Brussels today
SPOTLIGHT
Andrea Montanino Discusses Top Challenges in Italy’s Economy
Andrea Montanino, Director of the Atlantic Council’s Global Business & Economics Program and former IMF executive director for the governments of Italy, Albania, Greece, Malta, Portugal, and San Marino, discusses on CGTN-America the three forces putting the most pressure on the Italian economy. Dr. Montanino analyzes why Southern European countries are lagging behind the rest of the EU, and explains why Europe should not ignore the problems of Southern Europe.
“I think European leaders should be able to show European citizens that sticking together brings value added.” – Andrea Montanino
TRADE
Official Document: Budget of the US Government: “A New Foundation For American Greatness”, Executive Office of the President
Official Statement: USTR Robert Lighthizer on APEC Trade Meeting, Office of the United States Trade Representative
News: Trump Talks Trade with EU, Varied Differences Remain, Alastair Macdonald and Steve Holland, Reuters
News: Canada Dives Deep into Data to Make Case to US on NAFTA, says Freeland, Mike Blanchfield, CBC News
News: Republicans, Pushing Aside Trump’s Budget, Find Few Alternatives, Thomas Kaplan, The New York Times
Analysis: Re-Estimating the President’s Budget with Reasonable Economic Assumptions, Committee for a Responsible Federal Budget
News: Tusk, Juncker to Press Trump on Euro-Atlanticism, Euractiv
Comment: A Tale of Two Tax Plans, Alex Raskolnikov, Foreign Affairs
Speech: Trade in a Protectionist World, Cecilia Malmström, European Commission
Speech: Europe’s Progressive Trade Policy, Cecilia Malmström, European Commission
News: No Greek Deal is No Big Deal because it’s Close, EU Creditors Say, Bjarke Smith-Meyer, Politico
News: Germany and France Vow to Speed up Eurozone Integration, The Local
Opinion: German Current Account Surplus – Public Investment is Not a Panacea, Galina Kolev, Cologne Institute for Economic Research
Opinion: Franco- German Initiative on Eurozone Reform is Heavy on Ambition, and Light on Specifics, Janosch Delcker and Nicholas Vinocur, Politico
Official Statement: 23rd Meeting of APEC Ministers Responsible for Trade: Asia-Pacific Economic Cooperation
Analysis: Why Vietnam is all in for TPP11, Atsushi Tomiyama, Nikkei Asian Review
Leaflet: Modernizing Digital Trade: An Agenda for Software in Software and Beyond, BSA
Webcast: Why, After 200 Years, Can’t Economists Sell Free Trade? Peterson Institute for International Economics
TWEET/FACTOID OF THE WEEK
Did you know that..
…44 million Americans owe a total of $1.4 trillion in student debt? Seven million people — roughly the population of Massachusetts — have a student debt balance greater than $50,000. As of March 2016, more than 92% of all student debt was owed to the federal government. Read more here.
GLOBALIZATION
Regional Trends Analysis: Globalisation: The Good, The Bad, and the Role of Policy, Asia Pacific Economic Cooperation
Analysis: 3 Questions the ‘New Normal’ Raises About our Understanding of Macroeconomics, Stephen Roach, World Economic Forum
Analysis: Italy Wants to Focus the G7 Summit on Africa — but other Crises Keep Coming up, Crispian Balmer, Reuters
Analysis: These Two Swedish Economists Foresaw a Globalization Backlash in the 1930s, Rodrigo Zeidan, World Economic Forum
Opinion: The Future of Globalization, Uri Dadush, Washington International Trade Association
Video: Carlos Ghosn Defends Globalization, The Wall Street Journal
Opinion: Future of Globalization: Eastward and Southward, Olawale Ajai, Global Network Perspectives
WHAT WE ARE READING
Analysis: The Big G-7 Summit Starts Soon. Watch for these 3 Signs of Harmony — or Discord, Orfeo Fioretos, The Washington Post
Opinion: Europeans are Terrified by America’s Family Feud, Andras Simonyi, The Hill
Analysis: UK Need More Immigrants to ‘Avoid Brexit Catastrophe’, Patrick Wintour, The Guardian
Opinion: What 10 Million Simulations Tell us about President Trump’s Chances of Achieving 3% Economic Growth, Jason Furman, MarketWatch
Opinion: Italy is the Biggest Political Risk in Europe, Luke Graham, CNBC
News: Security Sticking Points in Brexit Talks, Jacopo Barigazzi, Politico
News: Balkan Toasts: The Chaotic Western Balkans Take a Sudden Worse for the Better, The Economist
News: The Western Balkans and Turkey to Deepen Economic and Social Reforms with the EU, European Commission, European Commission
UPCOMING
EVENTS
May 31: Women’s Leadership in Latin America, Washington DC, Atlantic Council
June 5: The Future of Mobility: A Fireside Chat with Bill Ford, Washington DC, Atlantic Council
June 6: Banking Unbound, Washington DC, CATO
June 7: Energy Security in Central & Eastern Europe: New Challenges and Opportunities, Atlantic Council
June 8: Strengthening America’s Infrastructure: What Next? Hudson Institute
June 8: 2017 Intensive Trade Seminar, The Institute for International Economic Policy
Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
Thomas Driscoll, Intern, 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.