Canada and the EU have agreed on a final text for their free trade agreement this Tuesday. Although smaller in monetary terms, the agreement covers even more areas than the Transatlantic Trade and Investment Partnership agreement currently negotiated between the US and the EU. As a consequence, many trade the CETA agreement as the template for the transatlantic agreement. (BBC News)

Complete Canada-EU Text Reached
As of this week, Canada and the EU have officially reached a complete text regarding the free trade agreement between the two. This will allow translation and legal reviews to start, and has led to the announcement of a September summit between both partners, to be hosted in Canada. (Government of Canada)

SIFMA Writes Letter to Ambassador Gardner on TTIP and Financial Services
In the August 3 letter, the Securities Industry and Financial Markets Association (SIFMA) shared its views on TTIP with regard to recent developments in the negotiations. SIFMA agrees that the significance of the agreement, particularly for financial regulation and regulatory policy, cannot be emphasized enough, and that TTIP is crucial for further economic growth. (SIFMA)

President Obama Speaks at the US-Africa Business Forum
President Obama spoke at the US-Africa Business Forum, the first of its kind. He argued that a new Africa is emerging, even as the continent continues to face numerous challenges. He made it clear that the US will remain a strong partner to the region, and particularly mentioned trade and investment opportunities. (The White House)

Taxes: Obama says he’ll Act on Inversions
In his speech on Wednesday, President Obama discussed the problem of American companies moving headquarters overseas to reduce taxation. He discussed this issue of so-called inversions, and emphasized his willingness to take any unilateral steps needed to address this development. (Politico)

TTIP: EU Commission Publishes Statistical Report on Responses to the Public Consultation on ISDS and Investment Protection
The EU Commission recently published a report regarding its consultation on investment protection and ISDS in TTIP – illustrating the considerable public interest. The Commission is now in the process of analyzing these responses, though it is not clear how these will affect negotiations. (Lexology)

News

US and EU Food Exports at Risk after Putin Threatens Ban
In response to recent sanctions placed on Russia, Moscow has retaliated with a hardline stance, threatening to ban US agricultural products, and impose an import ban on fruits and vegetables from the EU. These restrictions will negatively affect both the Western and Russian markets. (Financial Times)

TTIP: UK Government Confirms NHS Exemption Amid Public Backlash
The British government has confirmed that the National Health Service (NHS) will not be included in TTIP negotiations. More than half of those polled in a survey organized by the labor union Unite prefered to exclude the health service from the TTIP agenda. (International Business Times)

Japanese Official Says TPP Ag Market Access Talks with US Entering Tougher Phase
The US and Japan have claimed to have made progress during recent negotiations on TPP, with a senior Japanese negotiator stating that talks have entered a new, more difficult phase. Both sides are now considering which concessions can be made. (Inside Trade)

Africa Hopes US will build on Existing Trade Deal
Lesotho has emerged as one of Africa’s leading textile producers, due to the country’s trade deals with the US. However, both the White House and the government in Lesotho are pushing for broader measures to boost African trade, as tariff preferences are not enough to boost investment and growth by themselves. (Financial Times)

Recent Analysis 

TTIP NEGOTIATIONS: A SUMMARY OF ROUND 6
This Bertelsmann brief by Kara Sutton provides a concise overview over the sixth round of TTIP negotiations which took place in mid-July. She focuses on the progress that has been made, potential sticking points, and the influence that the ongoing political transition in the EU may have on the future of TTIP negotiations. (Bertelsmann Foundation)

Political Hurdles Plague Trade Agreement
In her opinion piece, Valentina Pasquali discusses the impact of political changes on both sides of the Atlantic on the content and duration of TTIP negotiations. Given that it is an important election year for both the US and the EU, the timing for an agreement seems to be off. Although negotiations are likely to take much longer than initially envisioned, broad support for an agreement still persists. (Global Finance)

Quantifying the Impact of a Transatlantic Trade and Investment Partnership (T-TIP) Agreement on Portugal
This paper issued by the Centre for Economic Policy Research quantifies the impact of the TTIP agreement, taking Portugal as an explanatory case study. The authors use the computable general equilibrium model (CGE) to determine the macroeconomic effects on the Portuguese economy. They conclude that Portugal will benefit greatly from the conclusion of TTIP, both in the short and long term. (Centre for Economic Policy Research)

Transatlantic Contrast is Stark
Financial Times’ James Mackintosh envisions lean times for the European economy. With Italy entering its third recession and the threat of Russian bans on European agricultural products, the near future does not seem rosy for the EU. The recent developments appear to intensify the transatlantic economic contrast, as investors see better forecasts for the US economy. (Financial Times)

What is Causing the TPP Bttleneck? A View from Japan
This opinion-piece by Katelyn Lamson highlights the factors which currently hamper TPP negotiations. Despite seemingly broad agreement in the beginning of the talks between the US and Japan, the author found that the current gridlock appears to be related to disagreements between Japan and the United States over agriculture and automobiles. For this piece, she travelled to Japan to interview local politicians and companies about the issue. (Atlantic Council)

Upcoming Events

Seventh Round of TTIP Negotiations – September 29 – October 3 in Washington DC – a political stock-taking between Ambassador Froman and Commissioner De Gucht will accompany the talks

EU Policy Agenda for Social Enterprise: What next? – September 3 in Brussels; hosted by the European Economic and Social Committee – More Information

Jobs and Economic Growth for Atlanta: How TTIP Will Help – September 10 in Atlanta, GA; hosted by the Trans-Atlantic Business Council – More Information

Launch of new Atlantic Council Publication on TTIP’s Benefits for Small and Medium-sized Enterprises – October 9 – More Information forthcoming

AmCham EU’s 31st Annual Competition Policy Conference – October 14 in Brussels – More Information

Annual Transatlantic Digital Economy Conference – October 16 in Brussels; hosted by AmCham EU – More Information forthcoming