TRADE in ACTION – July 7, 2017

THIS WEEK IN TRADE
The G20 Summit is this week, and the stakes are high for all the attendees. For live coverage of the G20, follow along on Politico.

Poland was the first destination on President Trump’s itinerary- his remarks included a focus on Russia and North Korea. The European Union and Japan announced the conclusion of a political agreement on the main elements of a bilateral economic partnership deal. The U.S. and Mexico gave their final approval of amendments to a deal suspending significant tariffs on imports of Mexican sugar.

WHAT TO WATCH

We might have a ruling on section 232 investigation by the end of this week. The EU is looking at retaliatory tariffs if President Donald Trump slaps duties on EU steel exports to the United States in the name of national security. Finally, the U.S.- China Comprehensive Economic Dialogue will take place on July 19 in Washington. The two powers will discuss bilateral trade issues and North Korea. 

SPOTLIGHT
tweet of the week 1 July 7 2017

The United States and Russia have been sanctioning and counter-sanctioning each other since Russia invaded Crimea in 2014. Since then, certain sectors of the Russian economy have been economically crippled. The Atlantic Council’s Global Business & Economics Program has created a comprehensive new econographic to further demonstrate the indirect effects sanctions have had on the Russian economy. For a deeper read on economic sanctions as a foreign policy tool, check out our newest policy brief.

tweet of the week 2 JuLY 7 2017

TRADE
Analysis: Judy Asks: Is the G20 at a Crossroads? Judy Dempsey, Carnegie Europe 
Report: June 2017, Global Economic Prospects: A Fragile Recovery, The World Bank
News: Japan-EU Bilateral Trade Agreement Announced, European Commission 
Analysis: An EU-Japan Pact Shows How Free Trade Strides On, Financial Times
Analysis: Trump Boosts Free Trade — outside the US, Hans von der Burchard, Politico
News: Spurned by Trump, China and Mexico Talk About a Trade Deal, Patrick Gillespie, CNN
Analysis: Trump and EU Offer Starkly Different Trade Visions at G-20, David McHugh, Washington Post
Report: Will Awe Trump Rule, Simon Evenett and Johannes Fritz, Global Trade Report Alert  
Opinion: Why the Politics of Trade are Getting Harder for Donald Trump, Shawn Donnan, Financial Times 
News: Global Trade Rebounds Despite Trump’s Protectionist Threats, Endra Curran, Bloomberg
Opinion: If Trump Takes a Protectionist Approach on Steel, it Could Backfire, Washington Post
Policy Brief: Steel, Aluminum, Lumber, Solar: Trump’s Stealth Trade Protection, Chad Brown, Peterson Institute for International Economics
Analysis: Trump’s Trade Plan Sets up Global Clash Over ‘America First’ Strategy, Andrew Restuccia, Nancy Cook, Politico
Strategic Brief: Global Future Council on International Trade and Investment, Global Economic Forum 
Analysis: The Narrow Window For Trade Agreements, Phil Levy, Forbes 
Analysis: When the Going Gets Tough…, Stephanie Honey, Trade Works 
Opinion: Trump’s Trade Choice: Follow the Postwar Order or Blow It Up, Eduardo Porter, The New York Times 
News: Merkel to Xi: Germany Wants Equal Access to China’s Markets, Victor Brechenmacher, Politico
Paper: The Trans-Pacific Partnership: Lessons Learned for ISDS, Andrew Stephenson, Lee Carroll, Corrs Chambers Westgarth
News: Liam Fox Says Talks on a UK-US Trade Deal Will Begin on 24 July, Tom Batchelor, Independent
News: City of London ‘to press EU on post-Brexit free trade deal’, SkyNews
Graphs and Figures: Today’s Brexit Barometer, Bloomberg
Video Footage: Public Hearings on the Renegotiation of NAFTA, Office of the United States Trade Representative
Report: Trade Policy Review: European Union, World Trade Organization 

TWEET/FACTOID OF THE WEEK
tweet of the week 3 July 7 2017
Did you know..
..that the G20 economies account for over 80 per cent of the global gross national product (GDP), about 80 per cent of world trade and some two thirds of the world population?    

GLOBALIZATION
Podcast: How Globalization Affects Inequality and Populism in One Chart, PBS
News: GE: The Ultimate Global Player, is Turning Local, Ted Mann, Brian Spegele, Wall Street Journal
Analysis: Globalization: The Hype, the Reality, and the Causes of the Recent Slowdown in Global Trade, Daniel Gros, Voxeu
Report: IMF Note on Global Prospects and Policy Challenges, International Monetary Fund
Blog: Globalization: The Payoff to the United States, Peter Buxbaum, Global Trade Magazine
Analysis: In Search of Inclusive Globalization, Deutsche Welle   

WHAT WE ARE READING
Opinion: German Economy: The Art of the Surplus, Christoph M. Schmidt, Handelsblatt Global 
Opinion: Why Germany’s Current-Account Surplus is Bad for the World Economy, The Economist
Report: The International Role of the Euro, European Central Bank
Analysis: Why Merkel is Ready for a Showdown in Hamburg, Judy Dempsey, Centre for International Governance Innovation 
Op-Ed: The Renewed French-German Partnership, Pierre Vimont, Carnegie Europe
Summary: Emmanuel Macron’s State of the Union, Yaseem Serhan, The Atlantic
Analysis: For Europe and Migrants, It Looks Like 2015 All Over Again, David Herszenhorn, Jacopo Barigazzi, Harry Cooper, Politico
News: ‘Best Time in history’ for China-Russia Relationship: Xi and Putin Boost Ties, Cheang Ming, CNBC
Analysis: Manufacturing Pickup in U.S. Signals Boost to Economic Growth, Sho Chandra, Bloomberg
Analysis: Making Things Anew 3D Printing Transforms the Economics of Manufacturing, The Economist  
Poll: Post-Brexit, Europeans More Favorable Toward EU, Bruce Stokes, Richard Wike, Dorothy Manevich, Pew Research Center
Op-Ed: A European Miracle, Simon Johnson, Peterson Institute for International Economics

UPCOMING
EVENTS
July 11: Manufacturing Workforce 4.0: A Symposium on Skills for the New Economy, Manufacturing Institute
July 12: Brexit: What You Need to Know About the Process, Timeline and Challenges Along the Way, European American Chamber of Commerce
July 12: U.S. Debt: Causes, Costs, and Consequences, Heritage Foundation
July 12: The State of Ukraine’s Energy Sector, Atlantic Council
July 13: Sixth Global Review of Aid for Trade, World Trade Organization 
July 17: A Positive NAFTA Negotiation: Part 2, Peterson Institute for International Economics 
July 18: Brexit after the United Kingdom Election, American Enterprise Institute 
July 20: Webina: What US Manufacturers Need to Know About CE Markings, European American Chamber of Commerce

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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