TRADE in ACTION – June 8, 2017

This week in TradeinAction: This week marked the 70th anniversary of the Marshall Plan which was the key transatlantic joint effort to rebuild Europe after of WWII. President Trump declared this week  “infrastructure week“, while also making exploratory efforts on NAFTA discussions with Canada and Mexico. Meanwhile, the Organization for Economic Cooperation and Development (OECD) released its 2017 Global Economic Outlook, and is hosting its Ministerial Council Meeting in Paris on June 7-8.

What Happened to Transatlantic Values? Will They Be Left Behind?The values and future of Europe are under threat. The world has witnessed Europe jump from crisis to crisis these past years with little relief. However, if Europe was able to successfully unite after the destruction of WWII and rebuild the entire continent in conjunction with the United States, they can certainly surmount any future crisis as long they work together. The Atlantic Council has written two new articles on the importance of the transatlantic alliance titled- The Free World, What it Achieved, What Went Wrong, and how to Make it Right by Ambassador Dan Fried, and 70 Years Later, George C. Marshall’s Value are Still Relevant  by Stephen Grand.
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News: OECD Ups Global Growth Forecast to Six-Year High; Downgrades US, Spriha Srivastava, CNBC 
News: IMF Says ‘Differences Narrowing’ in Greek Debt Relief Talks with Europeans, Lesley Wroughton, Reuters
News: TTIP Talks Possibly Resurrected US “Open” to Free Trade with Europe, EUBulletin
News: EU, China Trade Tensions, Cloud Climate Unity, Emre Perker and Natalia Drozdiak, Wall Street Journal 
Graphics: April U.S. Trade Data, Brad Setser, Council on Foreign Relations
Analysis: Trump Sees Job Gains After Paris Exit. Trade Wars Could Erase Them, Michelle Jamrisko, Bloomberg
Opinion: The Trump Administration’s Misguided Focus on Trade Barriers, Caroline Freund, Vox
Analysis: Trump’s Oily Trade Deficit, Phil Levy, Forbes
Video: Changes in Transatlantic Economies and Trade, Rudyard Griffiths & John Silvia,  Bloomberg
Analysis: TTIP, the Revenant, Edward Bowles, European Centre for International Political Economy  
Book: Economics and Policy in the Age of Trump, Chad Bown, VOXEU
Speech: Current Challenges for the European Economy and International Trade, Andreas Dombret, BIS
News: Quick Deal on Revised Nafta Is Possible, Former USTR Froman Says, Andrew Mayeda, Bloomberg  
Opinion: NAFTA Needs a Facelift, not a Lobotomy, Earl Anthony Wayne, The Hill
Analysis: Failure to Get a Brexit Trade Deal Will Cost Every Household $1,890 Per Year, Ben Moshinsky, Business Insider
Speech: Strengthening EU-China Trade Relations, Cecilia Malmström, European Commission  
Press Release: 100 European Geographical Indications Set to be Protected in China, European Commission 
News: Japan, Vietnam Leaders Vow Unity in Bid to Bring TPP into Force, Jiji Kyodo, Japan Times
Opinion: We Need to Get Back into the Trade Game in Asia, Tami Overby, US Chamber of Commerce

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Did You Know…

…that the United States contributed $13 billion to the Marshall Plan in the late 1940s, which is approximately $160 billion in today’s dollar value? The Marshall Plan, it should be noted, benefited the American economy as well. The money would be used to buy goods from the United States, and they had to be shipped across the Atlantic on American merchant vessels. More info here.

Key Issues Paper: Making Globalization Work for All, OECD
Blog Post: Make Trade Work for All, Catherine L. Mann OECD Ecoscope
Analysis. Good Globalization and Bad Globalization, Dan Hannon, Washington Examiner 
Opinion: If Corporations are People, They Can be Jerks, Satyajit Das, Bloomberg
Chart: Where is Global Growth Happening? Jeff Desjardins, Visual Capitalist

Analysis: The Eurozone’s Hidden Strength, Daniel Gros, Project Syndicate
News: Greece’s Economy Bounced Back in First Quarter, Nektaria Stamouli, Wall Street Journal 
Analysis: Europe Inches Closer to a Plan for Fixing its Financial Flaws, Luis Garicano, The Economist 
Analysis: The Marshall Plan Turns 70 this Week. Here are Four Reason it was so Important, Kelly McFarland, The Washington Post 
Quote: We Will Deliver Tax Plan to Congress by End of the Summer, Gary Cohn, Fox Business
Opinion: America’s CEO’s Fall Out of Love with Trump, Ben White, Annie Karni, Politico
Graphs: US Consumer Spending Stable in May at $104, Justin McCarthy, Gallup

June 9: Principles for Tax Reform: A Conversation with the House Freedom Caucus, Heritage Foundation
June 14: The Fate of the West, Carnegie Endowment for International Peace
June 15: The Ukrainian Economy: Challenges and Prospects, Atlantic Council
June 19: Redefining Manufacturing: The Service Sector’s Role in Boosting U.S. Competitiveness and Resilience, Wilson Center 
June 20: International Forum on Women and Trade, European Commission 
June 22: Webinar: An Update on EU’s Value Added Tax System, European American Chamber of Commerce, 
June 28: The Ties That Bind: Promoting Transatlantic Trade and Investment, U.S. Chamber of Commerce
July 20: Webinar: 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
Tom Driscoll, Intern, Global Business & Economics, Atlantic Council

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