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September 17, 2017
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THIS WEEK IN TRADE
We are back after the summer break! And so is trade: The second round of NAFTA re-negotiations took place in Mexico City earlier this month with very little new proposals introduced across the board. A major point of contention is a controversial provision for resolving investment disputes- the US is reluctant to keep the provision in, but Canada and Mexico have both signaled that any change to the dispute resolution system is off-the-table.  Maybe we will get more concrete answers during the next round which is scheduled for Sept. 23-27 in Ottawa.

Domestically, there has been a lot of talk on US tax reform in recent weeks, with House Republicans promising to release a plan the week of Sept. 25.
On the other side of the Atlantic, European Commission President Jean- Claude Juncker outlined his vision for the European Union in which he put an emphasis on strengthening the European trade agenda, and creating stronger, more competitive industry. 

Brexit Update: The fourth round of negotiations has been postponed from September 18 to September 25. 


SPOTLIGHT
NAFTA Negotiations: Why Are They So Controversial? 

In the midst of North American Free Trade Agreement (NAFTA) renegotiations in August, US President Donald J. Trump tweeted saying that NAFTA is the “worst trade deal ever made,” and threatened to withdraw the United States from the agreement because Canada and Mexico are being “difficult”. While many have brushed these statements off ahead of the third round of discussions, set to begin on September 23, one cannot help but wonder: How close are we to a new and improved NAFTA? 

With the third round of NAFTA negotiations fast approaching, Sara Van Velkinburgh writes for the New Atlanticist about the different public perceptions of NAFTA between the three nations and the challenges that lie ahead in the talks. Read her analysis here

TRADE
NewsNAFTA Partners Vow to Press Accelerated Timetable to Reach Deal,
Doug Palmer, Politico
News: Ross Calls NAFTA Withdrawal 'Right Thing' to Do if 2.0 Talks Fail,
Megan Cassella, Politico  
OpinionTrump Can't Withdraw from NAFTA without a 'Yes' from Congress, Joel Trachtman, The Hill 
VideoNAFTA: The View from Canada and MexicoPolitico
Briefing: A Path Forward for NAFTA, C. Fred Bergsten and Monica de Bolle, Peterson Institute for International Economics
Official StatementTax Reform Unleashes America’s Economic PotentialThe White House
AnalysisBig Six Still Divided Over Basic Elements of Tax Reform, Brian Faler, Politico 
Podcast: Trade Talks Episode 3: Nerves of Steel: Waiting for Trump's Trade War, Soumaya Keynes & Chad P. Bown, Peterson School of International Economics 
NewsFinance Panel Unanimously Approves Trump's Pick for Commerce Trade Slot, Inside Trade
NewsUS, Malaysia Talk Trade, Vicki Needham, The Hill
NewsTrump Names Richard Burkhauser as Final Member of Council of Economic Advisers, Nick Timiraos, The Wall Street Journal 
Press ReleaseEuropean State of the Union 2017 - Trade PackageEuropean Commission  
OpinionLatin America May Be Where Europe’s Trade Luck Runs Out, Hans von der Burchard and Jakob Hanke, Politico 
Press ReleaseEU to Launch Global Alliance for Torture-Free Trade, European Commission
NewsHammond Says U.K. Is Seeking ‘Status Quo’ Brexit Transition, Robert Hutton, Bloomberg
AnalysisWhy Italy’s Troubled Economy is Returning to FormThe Economist
NewsEU Weighs Strategy to Compete in Fintech with Global Rivals, Francesco Guarascio, Reuters
News: ASEAN, Partners Eye 'Substantial' Free Trade Progress by Year- EndABS-CBN News


TWEET/FACTOID OF THE WEEK
tweet of the week september
Did you know......that there is no term limit for a German Chancellor? Germany’s current Chancellor, Ms. Angela Merkel, is running for her fourth term this fall (Germans are heading to the polls at the end of September). Need to brush up on your knowledge on the German electoral system? Find regular updates on the current election here.

GLOBALIZATION
OpinionGlobalization on the Cheap: Why the U.S. Lost Its Way on Trade, Jennifer Mason, Mireya Solis, Brookings
ReportThe New Dynamics of Financial Globalization, Susan Lund, Eckart Windhagen, James Manyika, Philipp Härle, Jonathan Woetzel, and Diana Goldshtein, McKinsey&Company
BookFrom Global to Local: The Making of Things and the End of Globalisation, Finbarr Livesey, Profile Books
OpinionChina and the U.S. Can Work Together to Shape the World Order, Sam Zhao, University of Denver
NewsNations Should Maintain Free Trade Amid Fragile World Economy, China SaysReuters
PollA Survey Finds Support for Both Globalisation and Import TariffsThe Economist 
ReportNordic Countries Most Committed to Development, Gaby Galvin, US News
PollGreater Acceptance for Immigration, Globalization and Gay Marriage in the US, Mark Murray, NBC News

WHAT WE ARE READING
OpinionIn Upcoming Elections, Will Germany’s Turks Obey Erdogan? Bethany Allen- Ebrahimian, Foreign Policy
OpinionGermany After the Hartz Reforms, Christian Odendahl, Centre for European Reform
AnalysisCalichina Dreaming: Apple, the iPhone, and the Future of the Chinese Economy, Salvatore Babones, Foreign Affairs
AnalysisJuncker’s Report Card, Ryan Heath, Politico
OpinionThe EU Is Not Out of the Danger Zone, Stefan Lehne, Tomas Valasek, Carnegie Europe
ReportWhat is the Ideal Mix of Federal, State, and Local Government Investment in Infrastructure? Hunter Blair, Economic Policy Institute
AnalysisDoes the U.S. Trade Deficit Matter? James McBride, Council on Foreign Relations 
ReportEU–China Economic Relations to 2025 Building a Common Future, Alicia García-Herrero, K.C. Kwok, Liu Xiangdong, Tim Summers and Zhang Yansheng, Bruegel

UPCOMING EVENTS
September 18: U.S. Trade Policy Priorities: Robert Lighthizer, United States Trade Representative, Center for Strategic & International Studies (CSIS)
September 19: Anti-Globalism In China?, U.S.-Japan Research Institute
September 19: Maximizing Women’s Economic Leadership, Participation, and Impact in AfricaWoodrow Wilson International Center for Scholars
September 21: Investment Plan for Europe - A Status UpdateEuropean American Chamber of Commerce
September 21The Future of NAFTA and the State of U.S.-Mexico RelationsProgressive Policy Institute
September 27: Author, Kelsey Timmerman on Globalization and SustainabilityIllinois State University 
October 3: Economic Sanctions After Brexit, Atlantic Council 
October 3: Smart Cities & Smart Buildings: The Future of Commercial RE in the U.S. and Across Europe, European American Chamber of Commerce
October 17: Global Services Summit: Charting the Course For Growth, Coalition of Services Industries


Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
Michael Farquharson, Intern, Global Business & Economics, Atlantic Council 
Jack Reynolds, Intern, Global Business & Economics, Atlantic Council 

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