TRADE in ACTION
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.
The White House kicked off "Made in America week," the goal of which is to honor American workers and companies who contribute to creating products made in America. Also taking place on this side of the Atlantic is the U.S.-China Comprehensive Economic Dialogue.
In Europe, Brexit negotiations officially began on June 19th with the UK already making concessions on the timeline of the negotiations. The European Council met in Brussels with migration, security, and Brexit on the agenda. On the U.S. side, President Trump unveiled new restrictions on Cuban travel and business.
This week in TradeinAction: The United Kingdom's turbulent election results are in. A complete analysis of the UK's election results can be found here. The European Commission introduced a proposal allowing them to strip London of its right to handle certain financial transactions once they officially leave the European Union. On the US side, President Trump focused this week on apprenticeship programs. Read his speech here.
This week in TradeinAction: This week marked the 70th anniversary of the Marshall Plan which was the key transatlantic joint effort to rebuild Europe after of WWII. President Trump declared this week "infrastructure week", while also making exploratory efforts on NAFTA discussions with Canada and Mexico. Meanwhile, the Organization for Economic Cooperation and Development (OECD) released its 2017 Global Economic Outlook, and is hosting its Ministerial Council Meeting in Paris on June 7-8.