Bart Oosterveld

  • Pence Takes Aim at China

    US Vice President Mike Pence took direct aim at Beijing in an October 4 speech in which he accused China of “pursuing a comprehensive and coordinated campaign to undermine support for the president, our agenda, and our nation’s most cherished ideals.”

    Pence’s speech followed similar remarks by US President Donald J. Trump at the United Nations Security Council on September 26. Trump there accused Beijing of “meddling… because I am the first president ever to challenge China on trade and we are winning on trade.” China and the United States have been locked in a tit-for-tat exchange of tariffs after Trump placed restrictions on $50 billion worth of Chinese goods in June. On September 17, the United States placed...

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  • Meet the New NAFTA: The United States-Mexico-Canada Agreement

    Canada agreed, moments before the clock ran out on a September 30 deadline, to sign on to a trade agreement between the United States and Mexico that would replace the North American Free Trade Agreement (NAFTA). The new agreement will be known as the United States-Mexico-Canada Agreement or USMCA.

    US President Donald J. Trump announced the deal at the White House on October 1 describing it as a “brand new deal to terminate and replace NAFTA.” With this breakthrough, Trump has fulfilled his campaign promise to rewrite NAFTA, which he has called “the worst trade deal in history.” The new agreement was negotiated “on the principle of fairness and reciprocity,” said Trump.

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  • IMF Throws Argentina a $57 Billion Lifeline

    On September 24, Mauricio Macri shared a dinner table (some laughs and an animated conversation) with Christine Lagarde in New York City. The Argentine president told guests at the Atlantic Council’s Global Citizen Awards dinner about the great relationship he had with the managing director of the International Monetary Fund (IMF).

    Two days after President Macri was honored with a Global Citizen Award from the Atlantic Council, two days later he received even more good news: the IMF had agreed to increase its support to Argentina to $57.1 billion, the largest loan in the Fund’s history, to be disbursed over three years.

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  • Trump Accuses China of Meddling in Midterms. It's All About Trade.

    US President Donald J. Trump accused China of attempting to interfere in the US midterm elections in November at a meeting of the United Nations Security Council (UNSC) in New York on September 26.

    China does “not want me or [the Republicans] to win,” he said. His remarks came as he chaired the UNSC meeting on nonproliferation of weapons of mass destruction. This is the first UNSC session chaired by Trump and only the third time a US president has led a session.

    Trump offered no specific evidence of China’s purported “meddling” during his speech, but tied it directly to the trade issue, saying Beijing wants him to lose “because I am the first president ever to challenge China on trade and we are winning on trade.”

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  • Trump Puts America First at the United Nations

    US President Donald J. Trump on September 25 used his second address to the United Nations General Assembly to reaffirm his commitment to an America First approach to foreign policy.

    “America will always choose independence and cooperation over global governance, control, and domination,” Trump told the gathering of world leaders at the opening of the 73rd session of the United Nations General Assembly in New York. He laid out his vision for US foreign policy, with an emphasis on protecting US sovereignty from global governance and rising globalization.

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  • Oosterveld Quoted in CS Monitor on China Tariffs


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  • More Shots Fired in US-China Trade War

    This is what a trade war looks like.

    On September 18, hours after US President Donald J. Trump announced his decision to impose 10 percent tariffs on $200 billion worth of Chinese imports, China struck back. Beijing retaliated immediately, announcing tariffs on an additional $60 billion in US imports.

    The new Chinese tariffs will target more than 5,000 US goods, including meat, nuts, alcoholic drinks, chemicals, clothes, machinery, furniture, and auto parts—nearly everything that China imports from the United States.

    The Chinese tariffs, just like the new US ones, will go into effect on September 24.

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  • Trump’s Trade War Unlikely to End Soon

    Trump administration slaps more tariffs on Chinese imports

    The latest escalation of trade tensions between the United States and China is further proof that US President Donald J. Trump has no intention of quickly coming to an agreement over a new trade relationship with China, according to Bart Oosterveld, director of the Atlantic Council’s Global Business and Economics Program.

    “The [Trump] administration has no political or economic incentive to tone down these trade wars,” Oosterveld said.

    On September 17, the Trump administration announced 10 percent tariffs on $200 billion worth of Chinese imports in an attempt to pressure China to change trade practices that the president says are hurting US businesses.

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  • Oosterveld in Market Watch: Investing Markets are on High Alert Over Italy’s Budget and Debt Load


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  • NAFTA: The End?

    Now that the United States and Mexico have reached a bilateral trade agreement, the focus shifts to Canada—the third partner in the North American Free Trade Agreement (NAFTA).

    “Reaching a US-Mexico trade deal is critical for the US and Mexican economies and for the millions of US workers who depend on trade with our southern neighbor. But it would be a real loss to not incorporate Canada—the number one destination of US exports,” said Jason Marczak, director of the Atlantic Council’s Adrienne Arsht Latin America Center.

    “Across the United States, communities depend on US-Mexico trade and also a smooth functioning trilateral accord,” he added.

    NAFTA, which was signed in 1993, however, may well be entering its final days.

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