TRADE in ACTION – January 26, 2017

This week in TRADEinACTION: President Trump abandons TPP and announces to renegotiate NAFTA, British  Supreme Court says Parliament must give Article 50 go-ahead, European Parliament’s trade committee endorses CETA, , and UK’s Theresa May to visit DC on Friday.

SPOTLIGHT
The United States Quits TPP: A Gift for China

In his first week in office, President Trump has been extremely busy issuing executive orders– one of which was scrapping the Transpacific Partnership (TPP). While this comes as no surprise given his campaign promise to do away with this multilateral trade deal, it sparks a lot of questions: What is the future of TPP? What does this mean for America’s role in the region? Is this decision just a gift for China? Atlantic Council’s Ashish Kumar Sen, Robert A. Manning, and Jason Marczak have the answers. 

Trump to Meet British Prime Minister May. Here’s What You Should Know.

US President Donald Trump will meet British Prime Minister Theresa May—his first meeting with a head of state or government since his inauguration on January 20—at the White House on January 27. PM May is expected to suggest to renew the special US-UK relationship- especially in lieu of Brexit. What can we expect from her visit to DC? Will PM May and President Trumps views and priorities even be compatible? How does the recent ruling of the British Supreme Court that Parliament must vote on triggering Brexit negotiations impact on the British government’s Brexit plans? Atlantic Council’s Ashish Kumar Sen and Sir Peter Westmacott have the answers. 


TRADE
Executive Order (Trade): Series of Presidential Memoranda Dealing with Trade (TPP) and Other Issues, Office of the Press Secretary, The White House
What the experts think of the decision: Giving away Something for Nothing, Edward Alden, Council on Foreign Relations; Counterview: Trump Dumping TPP Not a Major Win for China, Kenneth Rapoza, Forbes
Opinion: Trump Places Tall Order on Trade John Lyons, WIlliam Mauldin, The Wallstreet Journal
Speech:  EU Trade Chief on the Future of EU Trade Policy, Cecilia Malmström, European Commission
Opinion: Renegotiating Nafta: 5 Points to Keep in Mind, Shawn Donnan, Financial Times
News Brexit: Parliament Is Back in the Brexit Game, Editorial Board, The New York Times
Press Release CETA:  Trade Committee MEPs Back EU-Canada Agreement, European Parliament

TWEET/FACTOID OF THE WEEK
tweet of the week 1 January 26
Did you know…?

…that 950 years before Brexit, the Norman invasion brought about “Brentry“? The Norman conquest of England, led exactly 950 years ago by William, Duke of Normandy, was arguably the biggest political change England has ever seen. Supporters of Brexit use the language of the conquest to describe the nation’s “domination” by “faceless” EU institutions. While a bloody political change, it ultimately brought some of the British Isles into European circles of trade (“Brentry”) and brought long economic prosperity to England. From those tumultuous decades on, England was indelibly European—and a lot stronger for it. (The Economist)

GLOBALIZATION
Opinion: Geography Made America Great. Has Globalization Undone Its Influence? Jonathan Rauch, The New York Times 
Opinion: Will Donald Trump mean the End of Global Trade? Mark Broad, BBC News
Survey: Inclusive Growth: Defending the Case for Globalization, PWC 
Video: Globalization is ‘Great Stuff’: Alibaba’s Jack Ma, CNBC
Video: Bill Gates on Globalization and Philanthropy, Bloomberg

WHAT WE ARE READING
Opinion: The Roots of Trump’s Trade Rage, Edward Alden, Politico Magazine
Book: Europe’s Last Chance: Why the European States Must Form a More Perfect Union, Guy Verhofstad
Opinion: You can’t be both a Populist and a Free-Market Conservative, Buttonwood, The Economist
Pew Survey: After Seismic Political Shift, Modest Changes in Public’s Policy Agenda, Pew Research Service 
Opinion: Dijssebloem: May Takes UK back to 1970s, Wouter van Noort, NRC News
Report: The Twilight of the Liberal World Order, Robert Kagan, Brookings
Opinion: Why Germany Needs to Accelerate into the Digital Fast Lane, Guy Chazan, Financial Times

UPCOMING
MEETINGS
January 26: President Trump meets with British PM Theresa May
January 31: President Trump is Set to Meet with Mexican President Peña Nieto

EVENTS
January 26: European Growth and the Next Chapter in US-EU Relations; Washington DC; hosted by the Atlantic Council 
January 27: Financing America’s Economic Growth Regional Event Series – Chicago; hosted by the US Chamber of Commerce

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

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.
Economy & Business Trade United States and Canada