TRADE in ACTION – July 20, 2017

THIS WEEK IN TRADE

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.

Opening remarks by Steven Mnuchin, Wilbur Ross and their Chinese counterparts can be found here. The Department of Commerce has also finally released its much anticipated Summary of Objectives for the NAFTA Renegotiation. In Brussels, the first full week of Brexit negotiations ended on Thursday with few compromises so far.

WHAT TO WATCH

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. Opening remarks by Steven Mnuchin, Wilbur Ross and their Chinese counterparts can be found here. The Department of Commerce has also finally released its much anticipated Summary of Objectives for the NAFTA Renegotiation. In Brussels, the first full week of Brexit negotiations ended on Thursday with few compromises so far.

SPOTLIGHT
tweet of the week 2 July 20 2017

To many, the European Union (EU) is a complex entity overburdened by rules. In “The European Union Could Be Simple, Inclusive, or Effective. Pick Two“, author Dimiter Toshkov, an associate professor at Leiden University, presents the structural dilemma facing the EU: accommodating the diverse interests of twenty-eight member states while delivering effective policies for over 510 million citizens in a simple way. As part of the Atlantic Council’s “EuroGrowth Initiative,” the policy paper examines why the Union’s system of government is so complex and how said complexity affects the effectiveness and ability of the EU to solve common problems.  

TRADE
News: U.S., Canada, Mexico Agree on Fast-Paced NAFTA Talks, Anthony Esposito, David Ljunggren, Reuters
Analysis: Trump to Prioritize Cutting US’s NAFTA Trade Deficits, Shawn Donnan, Financial Times
News: Trump Calls on Canada, Mexico not to Manipulate their Currency, Robert Schroeder, MarketWatch
Statement: Remarks by President Trump at Made in America Product Showcase, The White House
Interview: Peter Navarro Touts ‘Made In America’ Week, NPR
Opinion: The Limits of ‘Made in America’ Economics, Annie Lowrey, The Atlantic
Op-Ed:The Trump Vision for America Abroad, Gary Cohn, H.R. McMaster, New York Times
Analysis: Lack of Progress at U.S.-China Talks Raises Stakes for Trump, Jacob M. Schlesinger & Ian Talley, The Wall Street Journal 
Analysis: What’s Next for US- Europe Trade Policy, Nikhil Datta, Swati Dhingra, Vox.eu
Opinion: Is the US About to Get More Free Trade With the EU? Ian Adams & Clark Pachard, Washington Examiner 
Opinion: German Trade Surplus with US Far More Complex than Trump Makes it, Frances Burwell, The Hill
Commentary: The Clock has Started on Trade Facilitation Agreement Implementation, Daniel Runde, Center for Strategic & International Studies
Commentary: This Trade Agreement Could Help “Unclog” the Pipes” of Global Trade, Daniel Runde, Rachel Casey, Center for Strategic & International Studies
News: EU Clarifies Stance on Britain’s Exit Tab, David Herszenhorn, Politico 
News: EU and Britain to Present Post-Brexit Plan on WTO Membership, Tom Miles, Reuters
Reports: EU Commission Publishes Reports Following Negotiation Rounds with Mexico, European Commission
Opinion:Trump’s Trade Warrior Prowls the West Wing, Nancy Cook, Andrew Restuccia, Politico
News: US and China Step Up Steel Talks to Avert Trade War, Shawn Donnan, Sam Fleming, Demetri Sevastopulo, Financial Times 
News: China Border Tensions Cloud Asia Trade Pact Talks in India, Shruti Srivastava, Bloomberg

TWEET/FACTOID OF THE WEEK
tweet of the week 1 July 20 2017
Did you know...

..that big banks are ironically not the biggest money-makers in the United States? In terms of output – how much value it produces- the manufacturing sector is by far the biggest contributor to the US economy, responsible for nearly a third of the nation’s GDP. Finance, Insurance, real estate, rental and leasing made just $5 trillion, compared to America’s factories which made $5.3 trillion worth of goods, more than any other sector. (CBS News).

GLOBALIZATION
Analysis: Globalization: The Rise and Fall of an Idea that Swept the World, Nivil Saval, The Guardian
Analysis: Global Trade’s Evolution May Check Trump’s Protectionism, Bob Davis, Wall Street Journal
News: Smart Specialization for European Regions, European Commission
Facts & Figures: How Much is China Investing in Your Congressional District? American Enterprise Institute
Analysis: Emerging Markets Help Silence Globalization Doubts, Fathom Consulting, Reuters
Analysis: Global Economy/ Greece’s Economic Stability Key to Strengthening Eurozone Economy, Kensuke Nakazawa, The Japan News
Speech: Aid for Trade Global Review- Closing Plenary, Director-General Azevedo, World Trade Organization

WHAT WE ARE READING
Report: The European Commission at Mid-Term State of Play of  President Juncker’s Ten Priorities, European Commission 
Analysis: Three Steps the EU Can Take to Show Global Leadership, Wolfgang Munchau, Financial Times
Opinion: For EU Reforms, Watch Germany, Not France, Mujtaba Rahman, Politico
Analysis: 5 Areas Where France and Germany Can’t Agree, Nicholas Vinocur, Politico
Briefing: Unlocking Canada’s Future Growth Through Infrastructure, Kotaro Ishi, David Gentry, International Monetary Fund
Summary: Six Takeaways from Trump’s Paris Trip, David Herszenhorn, Politico
Graphs & Figures: Frankfurt is the Big Winner in Battle for Brexit Bankers, Gavin Finch, Hayley Warren, Tim Coulter, Bloomberg
Poll: Globally, More Name U.S. than China as World’s Leading Economic Power, Richard Wike, Jacob Poushter, Pew Research Center
News: UK No Longer a Relocation Hotspot for Chinese Millionaires, Karen Gilchrist, CNBC
Speech: Launch of the 2017 Employment Outlook, Angel Gurria, OECD
News: ‘The Sense of Urgency is There’: The EU is Getting Increasingly Worried About Poland, Business Insider

UPCOMING
Report: The European Commission at Mid-Term State of Play of  President Juncker’s Ten Priorities, European Commission 
Analysis: Three Steps the EU Can Take to Show Global Leadership, Wolfgang Munchau, Financial Times
Opinion: For EU Reforms, Watch Germany, Not France, Mujtaba Rahman, Politico
Analysis: 5 Areas Where France and Germany Can’t Agree, Nicholas Vinocur, Politico
Briefing: Unlocking Canada’s Future Growth Through Infrastructure, Kotaro Ishi, David Gentry, International Monetary Fund
Summary: Six Takeaways from Trump’s Paris Trip, David Herszenhorn, Politico
Graphs & Figures: Frankfurt is the Big Winner in Battle for Brexit Bankers, Gavin Finch, Hayley Warren, Tim Coulter, Bloomberg
Poll: Globally, More Name U.S. than China as World’s Leading Economic Power, Richard Wike, Jacob Poushter, Pew Research Center
News: UK No Longer a Relocation Hotspot for Chinese Millionaires, Karen Gilchrist, CNBC
Speech: Launch of the 2017 Employment Outlook, Angel Gurria, OECD
News: ‘The Sense of Urgency is There’: The EU is Getting Increasingly Worried About Poland, Business Insider

Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
Thomas Driscoll, Intern, Global Business & Economics, Atlantic Council

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.
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