TTIP&TRADE in Action – September 7, 2016

G20 World Leaders, including US President Barack Obama, German Chancellor Angela Merkel, and President of the People’s Republic of China Xi Jinping, in Hangzhou, China September 4-5

In Focus – The G20 Explained

G20 Summit, Leaders Acknowledge Progress and Recognize Work Remains
In light of this week’s G20 Summit, the White House has released an official Fact Sheet that explains the 2016 G20 Summit in Hangzhou, China. The main points the G20 leaders outlined include: ensuring a level playing field in an open, integrated global economy; strengthening the global economy and ensuring inclusive growth; promoting innovation and the digital economy; addressing climate change; addressing the global refugee and migration crisis; and promoting sustainable development.

G20 leaders recognized that more work remains to strengthen growth, expand opportunity, and ensure the benefits of trade and open markets are widely felt.The G20’s track record over the past 8 years has laid a strong foundation for further progress.

In addition to addressing the topics of the 2016 G20 Summit, the White House Fact Sheet analyzes what changes the G20 Summit has seen since President Obama’s first G20 Summit in London in 2009. (The White House)


Speeches & Announcements 

EU Commission President Opening Remarks, G20 Summit

“Trade is another vital engine for new jobs and growth: on average, every EUR 1 billion we get in exports supports 14,000 extra jobs across the European Union. More than 30 million jobs in the EU now depend on sales to the rest of the world – that is one in seven jobs in the EU.”
In the opening remarks ahead of the G20 Summit in Hangzhou, China, EU Commission President Jean-Claude Juncker emphasizes the importance of trade to the economic well-being of the European Union. In his speech, Juncker analyzed the benefits the European Union has already seen as a result of trade, as well as touted the EU-Canada Comprehensive Economic and Trade Agreement as the best and most progressive agreement ever negotiated by the European Union. (European Commission)

For further insight regarding the G20 Summit, please read the G20 Leaders’ Communique



OECD and WTO Stress Importance of TTIP Approval
Secretary-general of the Organization for Economic Co-operation and Development (OECD) Ángel Gurría explains that protectionist values in a crisis further perpetuate the crisis, as evidenced by the Great Depression. In order to see economic growth, countries need to have policies founded on open trade and investment. Keeping this in mind, the OECD maintains that approval of TTIP is essential for economic growth in the United States and the European Union. (CNBC)
Juncker: TTIP Remains a Priority
Ahead of the G20 meeting in Hangzhou, China, European Commission President Jean-Claude Juncker said that the trade deal being negotiated between the European Union and United States remains a priority, in spite of rising skepticism about its success. (Europe Online Magazine)
Moscovici Defies French Government on TTIP
EU Commissioner for Economic and Financial Affairs Pierre Moscovici says that although TTIP talks are a difficult and demanding process, Paris’ calls to suspend negotiations are not appropriate. EU Commissioner Moscovici explains TTIP is not a take it or leave it deal, rather the European Union should increase their demands instead of halting the negotiations. (EurActiv)
Finland Warns Asia Will Control Trade Standards, If TTIP Does Not Pass
Finland, along with other trade-oriented EU member state such as Sweden and the Netherlands, plan to fight for TTIP when EU trade ministers meet this month in Bratislava. Finnish trade minister Kai Mykkännen asserts that comments from France and Germany against TTIP are a reflection of internal positioning rather than a change of national position. (Financial Times)

TTIP Action Partners

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Recent Analysis

Sweden Needs TTIP for Jobs
In this opinion piece published in the Swedish newspaper “Aftonbladet”, Swedish Minister for European Affairs and Trade Ann Linde, and President of the Swedish Trade Union Confederation Karl-Petter Thorwaldsson explain the importance of TTIP for Sweden as an export dependent country and a supporter of free trade and  Addressing TTIP critics who want to halt TTIP negotiations, they ask “how are we to create a greater number of competitive jobs without increased trade?” (Government Offices of Sweden)
TTIP Will Boost EU Innovation
Former Atlantic Council intern Nathaniel Rome studies how TTIP will improve innovativeness of the European Union’s economy. Rome utilizes data regarding patent applications, research and development spending, and venture capital investment to highlight the European Union’s lag in innovation as compared to the United States. Based on Rome’s analysis, a successful conclusion of TTIP has the potential to significantly increase US FDI into the European Union and give EU businesses an impetus to boost R&D spending, and would hence help promote innovation within the European Union. (Penn Wharton, University of Pennsylvania)
Study Reveals Germany’s TTIP Debate One-Sided and Biased
In a new study, Matthias Bauer of the pro-trade think tank ECIPE describes increasingly strong TTIP and CETA opposition in Germany as the result of “a professionally organized disinformation campaign.” Bauer concludes that Member of European Parliament Sven Giegold is the “most influential TTIP critic.” The original paper is based on analysis of 1,500 TTIP events, and is available in German here. An English language version will be published later in September. (Politico EU Trade Newsletter)

TransPacific Partnership – News & Analysis

TPP Essential for US Business with Asia
In an interview with Bloomberg, Ambassador Robert Hormats, vice chairman at Kissinger Associates and Atlantic Council Board director, talks about the need for strong alliances (i.e. in TPP, TTIP, and NATO) and the importance of TPP to US relations and business with Asia. In addition, Ambassador Hormats gives some recommendations to the new administration for their engagement with Asia if TPP were to fail. (Bloomberg)

For a deeper dive on the importance of economic forces for geopolitics, I recommend reading the Atlantic Council strategy paper “Shape, Steer, and Sustain: A US Strategy for the New Global Economic Order“, by Robert Hormats. 

Obama Pushes Trade Talks at G20 Summit
During the G20 Summit earlier this week, US President Barack Obama indicated the necessity for the United States to ratify TPP, adding that his message to leaders will be to reemphasize his intentions to get TPP done. US President Obama also met with China President Xi Jinping, both pledging to make negotiations for a bilateral invesment treaty a top priority. (Politico Morning Trade)
 China Will Win if US Delays TPP
Darci Vetter, chief agricultural negotiator for the Office of the US Trade Representative, discusses the impacts and incomes that could be gained from passage of TPP. China has its own version, the Regional Comprehensive Economic Partnership, ready to go if the US backs out of the TPP. (AgriNews)

The Bigger Picture – Trade in Action

G20 Leaders: Increase Trade to Increase Economic Growth
The G20 Leaders’ Communique juxtaposes the concerns of current trade growing at a sluggish rate with the goal of reinforcing economic growth for the countries by increasing inclusive, robust and sustainable trade and investment growth. A rule-based trading system is a key component of this growth with the World Trade Organization playing the central role in global trade. (European Commission)

Please take a look at this news report by the European Commission for a condensed version of topics discussed at the G20 Hangzhou Summit.

Obama Nixes Prospect of Fast-Track US-UK Trade Deal, But Not All Hope Is Lost
US President Barack Obama offered Britain little hope of a fast-track post-Brexit trade deal on Sunday, but said he would work to ensure the economic relationship between the two does not unravel after the British vote to leave the European Union. (Reuters

The White House has released the official transcript of remarks by President Obama and Prime Minister May, available here.


Upcoming Events

Follow the Evidence: The Promise and Potential for a Different Approach to Policymaking – September 8, in Washington – More Information
Leadership Perspectives: The Transatlantic Implications of Migration and Demographic Change – September 8, in Washington – More Information
Reflections on Progress: Essays on The Global Political Economy – September 12, in Washington – More Information
Discussion with Four Former USTRs, Trade Agreements and American Interests – September 12, in Washington – More Information
Can The European Project Survive?  September 14, in Washington – More Information
Negotiating TTIP After Brexit – September 19, in London – More Information
Conference: EU Trade Agreements in Practice – Making Trade Work for You– September 22 in Bratislava, hosted by the European Commission – More Information 
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