This week in TradeinAction: President Trump signs two executive orders on trade with the intention of cracking down on trade abuses and minimizing the US trade deficit.
The European Union and Mexico are currently meeting in Brussels ahead of a possible EU-Mexico free trade agreement. President Trump meets with President Xi Jinping of China at Mar-a-Lago to discuss North Korea, trade, and other important matters.
SPOTLIGHT
Why a strong Europe means a strong United States
As the European Union (EU) celebrates the 60th Anniversary of the Treaty of Rome, it does so in a time of great stress and pressure; the EU is simultaneously dealing with high unemployment, a refugee crisis, nationalist and populist movements, and is negotiating Brexit. In spite of current adversity, there are concrete steps that can be taken by leadership to foster greater integration and economic growth which would greatly benefit not only the European Union but the United States and ordinary Americans as well. More insight by former US Ambassador to the European Union, C. Boyden Gray and Atlantic Council’s Andrea Montanino here!
Update NAFTA, But First Understand Why It’s Important
From the campaign trail to the oval office, President Trump promised to renegotiate unfair trade deals that have hurt American workers. This anti-trade agreement sentiment was particularly focused on the North American Free Trade Agreement (NAFTA). Though NAFTA has its fair share of issues, it supports millions of jobs in the United States, Canada, and Mexico and is integral to the broader North American economy. Writing for the Atlantic Council, former USTR Carla Hills explains why it is a good idea to update NAFTA while recognizing the importance of its role.
TRADE
Speech: Remarks by President Trump et al. at Signing of Trade Executive Orders, The White House
Analysis: Here’s what You Need to Know about President Trump’s Trade Executive Orders, Sean Hackbarth, US Chamber of Commerce
Opinion: Donald Trump will Make Trade Fair Again, Wilbur Ross, Financial Times
Report: 2017 National Trade Estimate Report on Foreign Trade Barriers, USTR
Analysis: Trump Sees Possible Deal with Xi, Megan Cassella, Politico
News: Trump Administration quietly Starts Review Of China’s Trade Status, Chris Arnold, NPR
News: US Trade Deficit Falls from Two-Year High on Weak Imports, Lucia Mutikani, Reuters
Critical Read: Behind Trump’s Trade Deficit Obsession: Deficient Analysis, Peter Goodman, The New York Times
Commentary: Is the EU really that Important to US Interests? Peter Buxbaum, Global Trade
Analysis: As the World Sours on Trade, the EU Sweetens on It, Charlemagne, The Economist
Analysis: Rule 1 for Trade Negotiators: No ‘Own Goals’, John Murphy, US Chamber of Commerce
Opinion: Trade after the Trans-Pacific Partnership, Heraldo Munoz, The New York Times
Analysis: Key Policy Options for the G20 in 2017 to Support an Open and Inclusive Trade and Investment System, G20 Insights
TWEET/FACTOID OF THE WEEK
Did you know that… in 2015 Chinese foreign direct investment in the United States increased to $15.7 billion, a record level and a growth of over 30% from the prior year? This comes as net Asian FDI has fallen to a record low and China has become a net investor in markets abroad. Read more about Chinese FDI in the United States here!
GLOBALIZATION
News: Sturgeon to Mount Defence of Globalisation, BBC News
Blog: What to Do about Growth, Camilla Lund Andersen, IMF Blog
Analysis: Growth-oriented Policy Agenda Needed to Ensure Stronger Economic Recovery with Benefits for all Workers and Households, OECD
Analysis: US Retreat from Global Financial System Lets China in, Henny Sender, The Financial Times
Opinion: Globalisation and Free Trade are not Enemies, Mminele & Dombret, Business Day (South Africa)
Analysis: What Indiana Mayors would Tell Trump about Globalization, Emma Kate Fittes, Indianapolis Star
Analysis: Gone with the Headwinds: Global Productivity, International Monetary Fund
WHAT WE ARE READING
Analysis: Venture Capital in Europe: State of Play, Ole Moehr, The New Atlanticist
Interview: Trade Crusader: Cecilia Malmström, Anna Teo, The Business Times (Singapore)
Policy Brief: Europe and the Great Powers: Playing our Trump Cards, Sven Biscop, Egmont Institute
Alternative Reading: European Monetary Union Crisis does not Justify a Deeper Integration, IWKöln
Analysis: 5 Takeaways from France’s Chaotic Presidential Debate, Nicholas Vinocur, Politico Europe
UPCOMING
MEETINGS
April 6-7: Meeting of G20 ministers in charge of digitalisation in Düsseldorf
April 7: Cecilia Malmström makes an official visit to Warsaw (Poland) and holds Citizens’ Dialogue ‘CETA FORUM’ at Vistula University
April 9-11: US Secretary of State Rex Tillerson attends the G7 Foreign Ministers’ Meeting in Lucca, Italy
April 11-12: US Secretary of State Rex Tillerson visits Moscow
April 20: Cecilia Malmström meets with Ms. Susana Malcorra, Minister of Foreign Affairs, Argentina
April 21-23: IMF/World Bank spring meetings
EVENTS
April 6: The Role of the Private Sector in Global Sustainable Development, Brookings Institution, Washington, DC
April 10: Fueling Populism: Globalization’s Discontents in the U.S. and Europe, Brookings Institution, Washington, DC
April 11: CER/KREAB Breakfast on the Future of European Union Trade Policy with Cecilia Malmström, European Commissioner for Trade, Centre for European Reform, Brussels
April 20: Can Europe deliver on a pro-growth agenda? American Enterprise Institute, Washington, DC
April 27: International Corporate Tax Update: Repatriation & the Characterization of Debt Instruments, European American Chamber of Commerce, New York City
Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
John Butler, Program Intern
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.
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