TRADE in ACTION, April 20, 2017

This week in TradeinAction: As international finance leaders convene in Washington for the IMF/World Bank Spring Meetings, the IMF raises its outlook for global economic growth. Last Sunday, Turkish voters approved a referendum question to replace the current parliamentary system with a presidential system. This Sunday, French voters head to the polls for the first round of the French elections; all the while Prime Minister Theresa May announces a snap parliament election scheduled for June 8 (watch the full speech here)

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tweet of the week 1 April 20

The Brexit Election
In spite of repeatedly dismissing the idea of calling a snap election before the scheduled elections in 2020, on April 18 British Prime Minister Theresa May announced that the next general election will be held on June 8, 2017. The Atlantic Council’s Fran Burwell analyses the complex situation and provides a concise explanation of PM May’s rationale in backtracking on her word to move up parliamentary elections in the face of Brexit negotiations.
To read more about the implications of this summer’s “Brexit Election,” click here!
The WTO is not a disaster, Mr. President. But leaving it would be.
Following many weeks of bellicose anti-free trade rhetoric on the presidential campaign trail and the removal of the United States as a signatory of the Trans Pacific Partnership (TPP), former Ambassador to the EU and Co-Chair of the Atlantic Council’s EuroGrowth Task Force Stuart E. Eizenstat warns President Trump not to remove the United States from the World Trade Organization (WTO). Rather than withdrawing from the organization and risking the loss of 41 million American jobs, Ambassador Eizenstat proposes ways for America to lead in the WTO and on trade.
To learn more about why America should remain in the WTO and the dire consequences of leaving it, click here!

Press Release: President Trump Promotes “Buy American and Hire American,” The White House
World Economic Outlook: World Economic Outlook, April 2017: Gaining Momentum? International Monetary Fund
News: US Investigates Trade Imbalances with Southeast Asian Countries, Kelly Jean Kelly, Voice of America
News: Ryan: US Will Chart Path forward with TTIP, Stands Ready to Negotiate FTA with UK, World Trade Online
Opinion: Trump Turns to Trickier Trade Targets, Phil Levy, Forbes
Analysis: Trump, Trade, Interest and Aid make for a Challenging IMF Summit, Katie Allen, The Guardian
News: Eurozone Returns to Trade Surplus, Paul Hannon, The Wall Street Journal
Analysis: IMF Warns Trade War could Derail Improving Global Economy, Ana Swanson, The Washington Post
Opinion: It’s Time to Call the Protectionists’ Bluff, Daniel Gros, Financial News
News: In Japan, Vice President Pence Pushes For Bilateral Trade Deal, Camila Domonoske, NPR
Commentary: What’s Next for America’s Trade Policy with China, Alan Wolff, Fortune
News: TPP was Obama’s ‘Renegotiation of NAFTA’: Former Trade Envoy, Monique Scotti, Globalnews Canada
Analysis: Why Renegotiating NAFTA Could Disrupt Supply Chains, Peterson Institute of International Economics
Opinion: The False Promise of Protectionism, Douglas Irwin, Foreign Affairs

tweet of the week 2 April 20
Did you know that… The first round in the French presidential election is this Sunday? Currently, there are 11 candidates running for the office of President of France.  If no single candidate receives a majority of the votes in Sunday’s election, then a run-off election will be held on May 7 between the top two candidates who received the most votes on April 24.  To read more about the candidates and the French presidential elections click here!

Report: China’s Role in the Next Phase of GlobalizationMcKinsey Global Institute
Report: Global Trends: Challenges and Opportunities in the Implementation of the Sustainable Development Goals, United Nations Development Programme
Video: France: Globalization Versus Protectionism, Deutsche Welle English
Analysis: Has Globalization Increased Business Cycle Synchronization? Monnet & Puy, Banque de France
Opinion: Trumpism or Brexit will not Succeed in Reversing the Tide of Digital Globalization, Narain D Bartra, The Economic Times (India)
Opinion: Don’t Give Up on Globalization, Joseph Quinlan, Barrons
News: Le Pen Pledges to Protect France from Savage Globalization, Isabelle Gerretsen, Newsweek

Opinion: Tweet This: Multilateralism is Key to Facing Down the World’s Climate and Investment Challenges, Werner Hoyer, The New Atlanticist
News: News: American Farm Belt anxious about Trump Trade Threats, Shawn Donnan, Financial Times
Opinion: The Second Year of Europe, Richard N. Haas, Project Syndicate
Analysis: 7 Takeaways on Britain’s Snap Election, McTague & Cooper, Politico Europe
Opinion: The Art of the (Trade) Deal, according to the Trump Administration, Daniel Griswold, Mad About Trade
Analysis: Referendum Results risk Further Polarization in Turkey, Kemal Kirişci, Brookings Institution

April 20: Cecilia Malmström meets with Ms. Susana Malcorra, Minister of Foreign Affairs, Argentina
April 21-23IMF/World Bank Spring Meetings
April 25: US House of Representatives returns to session in Washington, DC
April 26: European Parliament Plenary meeting in Brussels
April 27: Cecilia Malmström visits Copenhagen & Malmö; meets with Danish Minister of Foreign Affairs, Anders Samuelsen, and holds events with citizens.
April 29: EU Leaders Summit
May 3: European Commission releases Guidance on Brexit Negotiations
June 26-30: Fourth Round of Mexico-EU Trade Negotiations

April 20: Future of Globalization, Yale School of Management, Livestream
April 20: The European Stability Mechanism- A Firewall for the Eurozone and first Line of Defense for Global Financial Stability? Atlantic Council, Washington, DC
April 20: Brazil’s Reforms & the Future of the Middle Class, Atlantic Council, Washington, DC
April 20: Can Europe deliver on a pro-growth agenda? American Enterprise Institute, Washington, DC​​​​
April 20: Economics after the Crisis: A Conversation with Belgian Finance Minister Johan Van Overtveldt, American Enterprise Institute
April 20: A Fiscal Stabilisation Function for the Euro Area, Centre for European Policy Studies, Brussels
April 21: Multilateral Cooperation-The Key to a New Era of Inclusive Global Development? Atlantic Council, Washington, DC
April 27: International Corporate Tax Update: Repatriation & the Characterization of Debt Instruments, European American Chamber of Commerce, New York City

Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
John Butler, Program Intern

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