TRADE in ACTION – February 16, 2017

This week, TRADEinACTION.. is about relations with Canada on both sides of the Atlantic: The European Parliament approved the Comprehensive Economic and Trade Agreement (CETA) on Wednesday after 7 years of negotiations with Canada, while Canadian PM Trudeau visits the White House; Steven Mnuchin gets confirmed as Treasury Secretary, Linda McMahon confirmed to head White House’s Small Business Administration, while President Trump meets with PM of Israel Benjamin Netanyahu to discuss future US- Israel relations.

Keeping TTIP Alive By Any Other Name!
US President Donald Trump has been outspoken in his opposition to multilateral trade agreements. In such an environment, the Transatlantic Trade and Investment Partnership (TTIP), a free trade agreement between the United States and the European Union (EU), is unlikely to survive in its originally envisioned form. “Policy-makers should send a political signal by rebranding the future deal, abandoning negotiations on the most controversial issues, and focusing on regulations where there is a clear mutual benefit. In negotiations, it would be best to keep a door open for future amendments.” Recent developments in the trade environment pose some pressing questions: Why is TTIP so integral to European and American prosperity? What measures can be taken to preserve TTIP? Atlantic Council’s Andrea Montanino and Dante Roscini have these answers and more insight here

Further reading:  “10 Reasons for TTIP and the Concerns to Address” by Ambassador Earl Anthony Wayne and Andrea Montanino.

News: Trudeau: EU, Canada Must Lead World Economy, Deutsche Welle 
Press Release: European Commission Welcomes Parliament’s Support of Trade Deal with Canada, European Commission 
News: Trump: Only ‘Tweaking’ of Trade Relationship with Canada, Andrea Hopkins, Reuters
News: While Trump and Abe Bond, Their Deputies Talk Trade, Isabel Reynolds, Bloomberg
News: EU Commission Still Has Hope for TTIP, Handelsblatt Global
Opinion : Trump and the Economy- How to Jump-Start Growth, John Paulson, Foreign Affairs
Blog: What Will Trump’s Embrace of Bilateralism Mean for Trade? Geoffrey Gertz, Brookings
Opinion: Ambassadors: Treat Mexico as a Strategic Partner, Washington Post
Policy Brief: America’s Economy First: The Economic Consequences of President Trump for Europe, Liesenhoff and Sparding, German Marshall Fund
Analysis: 5 Ways to Think About the Trade Deficit, John G. Murphy, US Chamber of Commerce
Policy Brief: US Trade Policy Options in the Pacific Basin: Bigger Is Better, Jeffrey J. Schott, Peterson Institute for International Economics (PIIE)
Op-Ed: Trade Deals are Complicated Because Trade is Complicated, Dalibor Rohac, Los Angeles Times
Opinion: What is NAFTA, and What Would Happen to US Trade Without It? Chad P. Brown, Washington Post
Economic Forecast: Winter 2017 Economic Forecast, European Commission

tweet of the week 1 February 16 2017
Did you know…
…that with over $17.8 billion in sales in 2016, Anti-Valentine’s Day (“Singles Day”) is the single largest retail sales day In Asia? Valentine’s Day still holds the slight edge with expected sales of $18.2 billion this year. The Single’s Day sales volume, is still dwarfed by the biggest shopping day of the year overall – America’s Black Friday. (Forbes)

Speech: Generating Public Revenue to Build Resilient Economies, Christine Lagarde, International Monetary Fund
Views: Jeff Immelt on Dealing With Trump and Globalization, John Micklethwait, Bloomberg Businessweek
Opinion: Why We Have To Stand Up for Globalisation, David Coleman, Australian Financial Review
News: UN Chief: Many Feel ‘Left Behind’ by Globalization, Arab News
Opinion: Adapting to the New Globalization, Tyson and Lund, Project Syndicate

Opinion: Five Questions for Europe in a Trumpian Age, Fran Burwell, E!Sharp
Opinion: Beggar Thy Neighbor-How Europe Can Prepare for American Mercantilism, Tyson Barker, Berlin Policy Journal
Analysis: 13 Things You Didn’t Know About Brexit, De La Baume, Heath & Aries, Politico Europe
Opinion: Schäuble Strikes Again, Paul Taylor, Politico Pro
Op-Ed: Macron the Maverick, Kemal Dervis, Brookings
Analysis: 3 ‘Grexit’ Battle Lines Emerge, Bjarke Smith-Meyer, Politico
Analysis: French Election Puts Possibility of ‘Frexit’ on the Agenda, Simon Nixon, Wall Street Journal

February 17: European Commissioner for Trade Cecilia Malmström meets with Mr. Fumio Kishida, Minister of Foreign Affairs, Japan
February 19: Belgian Prime Minister Charles Michel meets with US Vice President Mike Pence in Brussels
February 20: European Council President Donald Tusk will greet US Vice President Mike Pence in Brussels
February 20: EuroGroup Meeting in Brussels: Thematic discussion on growth and jobs: ease of doing business

February 22: US-Mexico & Canada Trade Ties: What’s the Way Forward? Event held at 12:30PM at the Atlantic Council (Washington, DC) Register Here

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

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