TRADE in ACTION – June 23, 2017

THIS WEEK IN TRADE

In Europe, Brexit negotiations officially began on June 19th with the UK already making concessions on the timeline of the negotiations. The European Council met in Brussels with migration, security, and Brexit on the agenda. On the U.S. side, President Trump unveiled new restrictions on Cuban travel and business. 

USTR Lighthizer met with his British counterpart, Trade Secretary Liam Fox, to discuss the potential establishment of a U.S.- U.K. bilateral free trade agreement. USTR Lighthizer also testified in front of the Senate Committee on Finance this week, touching upon trade with China, NAFTA tweaks, as well as a potential resuming of transatlantic trade talks after the German elections, among other things.

WHAT TO WATCH

August 17: NAFTA: Under Trade Promotion Authority, that date marks the earliest possible day negotiations can formally begin after the statutorily required 90-day consultation period wraps up, and Lighthizer promised on Wednesday that it is the administration’s intention to start on that date. A month before that, on July 17, the administration will release its detailed negotiating objectives, which are required under TPA to be made public 30 days before the consultation period ends. (Politico)

SPOTLIGHT
tweet of the week 1 June 23 2017

President Trump has recently attacked other countries over their trade balances with the United States. However, simply having a surplus or deficit with another country is not an inherently harmful position to be in. The Atlantic Council’s Global Business & Economics program has just composed a new econographic which dives into and dissects the implications of trade deficits. For full a view and analysis, click here.

tweet of the week 2 June 23 2017

TRADE
Speech: Trade Bill in Queen’s Speech, Andrew Sparrow, The Guardian 
Testimony: The President Trade Policy Agenda and Fiscal Year 2018, Robert Lighthizer, Office of the United States Trade Representative
Opinion: Trump would further Damage U.S. Manufacturing if He Restricts Steel Imports, Dan Pearson, MarketWatch
Opinion: Trade Punch And Counterpunch, Phil Levy, Forbes
Press Release: US, UK Discuss Laying Groundwork for Bilateral Trade Deal, Dr. Liam Fox and USTR Robert Lighthizer, Office of the United States Trade Representative 
News: Fox: First Meeting on US- UK Trade Talks Set for Next Month, Megan Cassella, Politico
Biographies: Who’s Who in Brexit Talks, Charlie Cooper, Politico
Charts: Trade, Stupid: Three Charts Show Why DUP Needs Soft Brexit, Dara Doyle and Peter Flanagan, Bloomberg
News: Trade: MEPs Will Vote on Upgraded Trade Defense Measures that Would Block Countries from Dumping Products Even if They have Market Economy Status, FTSE Global Markets
Speech: The Power of Trade, Empowering Women, Cecilia Malmström, European Commission 
Study: Are EU Exports Gender-Blind? Some Key Features of Women Participation in Exportinig Activities in the EU, Jose Rueda-Cantuche, Nuno Sousa, European Commission 
Video: Trade in Europe, World Bank
News: The PSOE Announces that it Will not Endorse the Free Trade Agreement with Canada, Marisa Cruz, El Mundo
Analysis: Trump Faces His Biggest Trade Decision Yet, Damian Paletta & Anna Swanson, Washington Post
Survey: Americans are Really Optimistic About the Economy, but it is No Longer Helping Trump, Steve Liesman, CNBC
Analysis: The Border Adjustment Tax, Mary Amiti, Emmanuel Farhi, Gita Gopinath, Oleg Itskhoki, Vox.eu
News: Trump to Restrict Cuban Travel and Trade Policy, Josh Delk, The Hill
News: SMEs are Key to Inclusive Trade, Say Global Experts, Daniela Vincenti, Euractiv
Report: The Real Impact of Trade Agreements, Bay Area Council Economic Institute
News: Merkel Pledges to Push for Free-Trade at G-20 Summit, Andrea Thomas, Wall Street Journal. Full speech
News: Germany Writes to U.S. to Criticize Plans to Act Against Steel Imports, Michelle Martin, Reuters
Analysis: Macron’s Price for Saving Europe: Trade Defense, Jacob Hanke, Maia Baum, Politico

TWEETS OF THE WEEK
tweet of the week 3 June 23 2017
The Brexit Gift Game: Getting Ready for an Uphill Battle?
Barnier received a mountaineering book and gave Davis a walking stick. Cue elegantly deniable crutch metaphors. Barnier: 1, Davis: 0. More on this here
tweet of the week 4 June 23 2017tweet of the week 5 June 23 2017

GLOBALIZATION
Analysis: Globalization and the Shift in Chinese Consumerism, Zacks
Commentary: Globalization: Made in the USA, Gary Grappo, UNC Chapell Hill
Opinion: Reports of Globalization’s Death are Greatly Exaggerated, Marc Jones, Reuters
News: A German Grocery Chain that’s Invading the US has an Advantage that Should Terrify Walmart, Hayley Peterson, Business Insider
Report: Understanding Globalization, Bank for International Settlements
Expert Survey: Will Economic Globalization End? Foreign Affairs
Analysis: Japan’s Entry to World Markets During the First Age of Globalization, Christopher Meissner, John Tang, Vox.eu

WHAT WE ARE READING
News: France’s Emmanuel Macron Seizes Big Majority in Parliament, Nicholas Vinocur, Politico
News: Trump Wants 4.5 Million New Apprenticeships Within 5 Years with Nearly the Same Budget, Kevin Breuninger, CNBC
Analysis: Restarting the Franco-German Engine, The Economist
Analysis: What Macron Wants (and How to Judge if He’s Succeeding), Nicholas Vinocur, Politico
Report: The EU’s Choice: Perspectives on Deepening and Differentiation, Tuomas Iso-Makku, Juha Jokela, Teija Tiilikainen, The Finnish Institute of International Affairs  
Press Release: IMF Managing Director Christine Lagarde to Propose Approval in Principle of New Stand-By Arrangement for Greece, International Monetary Fund
Analysis: Greece: A Case Study in Capital Controls, Nektaria Stamouli, Wall Street Journal
News: Near-unanimous Senate Approves New Sanctions and Iran and Russia. Here is What the Penalties Do, Business Insider 

UPCOMING
EVENTS
June 28: Transatlantic Cooperation and Europe’s Southern Neighborhood, Atlantic Council
June 23: Exit Interview with Daniel Fried, Center for Strategic and International Studies
June 28: The Role of European Allies in the Trump-Era NATO, The German Marshall Fund
June 28: The Ties That Bind: Promoting Transatlantic Trade and Investment, US Chamber of Commerce
July 6: Apprenticeship and Manufacturing: Connecting Work and School, (Chicago) Atlantic Council
July 11: Manufacturing Workforce 4.0: A Symposium on Skills for the New Economy, Manufacturing 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.
© 2017 Atlantic Council

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