Is the US heading back to the TPP? Not so fast

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

Is the US heading back to the TPP? Not so fast

President Trump Speaks at World Economic Forum, Chris Brummer Comments
U.S. President Donald Trump speaks at the World Economic Forum annual meeting in Davos, Switzerland, on Jan.26. © Reuters

Although the US is opening the door to TPP, joining the accord now will take time.  Analysis of some of the challenges is here.

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NAFTA Negotiations could run into 2019, raising risk of termination

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

NAFTA Negotiations could run into 2019, raising risk of termination

NAFTA Negotiations could run into 2019, comments by Chris Brummer
Christinne Muschi/ Reuters

With consultations progressing slowly, some commentators are noting the possibility that NAFTA negotiations could drift into 2019.  Under such a scenario, a statement of principles would only be available after Mexico’s presidential elections.  One surprising possibility is, as Chris Brummer noted on hedged positions and twitter, that the United States may not need to explain its rationale for dumping NAFTA if Mexico does it first.

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New TPP Agreement to Be Signed, Without the United States, in March

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

New TPP Agreement to Be Signed, Without the United States, in March

 

TPP, U.S., Chile, March, Chris Brummer
kyodonews.net

The 11 members of the Trans-Pacific Partnership will sign a new pact without the United States on March 8 in Chile after overcoming differences on outstanding issues, including a request by Canada on cultural protection, Japan’s TTP minister announced.

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Canada anticipates “innovative” negotiations for NAFTA

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

Canada anticipates "innovative" negotiations for NAFTA

Canada, NAFTA, Innovation, Negotiations, Chris Brummer
Cole Burston/Bloomberg

Canada's minister of international trade has noted that the government intends to be "constructive" and "innovative" as the North American Free Trade Agreement renegotiations resume in Montreal.   The Financial Post reports that Canada’s major issues include the dispute settlement mechanism and supply management.

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China’s Weak Hand in Potential Trade War With U.S.

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

China’s Weak Hand in Potential Trade War With U.S.

A Chinese flag in Beijing’s central business district. While China has many options with which to retaliate against potential United States tariffs, it has few good ones. Credit Jason Lee/Reuters

Christopher Bedoor argues in the New York Times that China’s stockpiles of U.S. Treasuries makes a trade war with the United States improbable.

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Canada launches case against US at WTO

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

Canada launches case against US at WTO

Chris Brummer, Canada, WTO, China
A flock of Canada geese flies over cargo ships at anchor in English Bay, outside the Port of Vancouver, British Columbia, Canada, November 19, 2016. REUTERS/Chris Helgren/File Photo

An important development in North American trade matters not involving NAFTA happened this week.  According to Reuters, Canada launched a complaint against the US last week, challenging Washington’s use of anti-dumping and anti-subsidy duties.  Nearly 200 examples of alleged U.S. wrongdoing were reportedly alleged, though interestingly, the examples did not concern China, but other trading partners including China, India, Brazil and the European Union.

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US Trade Deficit Grows to Six Year High

US News and World Report has noted that the US trade deficit has grown to six year highs.  As Chris Brummer notes on his blog, hedged positions, the deficit comes despite a weaker dollar and a turn away from regional and multilateral dealmaking.

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

US Trade Deficit Grows to Six Year High

A container ship at the Port of Oakland in Oakland, California. Getty Images

US News and World Report has noted that the US trade deficit has grown to six year highs.  As Chris Brummer notes on his blog, hedged positions, the deficit comes despite a weaker dollar and a turn away from regional and multilateral dealmaking.

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Robert Zoellick argues Trump’s approach to trade risks “Economic Mayhem”

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

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UK in talks to join the Trans-Pacific Partnership

Professor of Law : Georgetown University, and Director, Institute of International Economic Law

UK in talks to join the Trans-Pacific Partnership

Chris Brummer, Greg Hands, Trans-Pacific
Trade minister Greg Hands told the Financial Times there was no geographical restriction to Britain joining the trans-Pacific grouping. Photograph: Alamy

After months of speculation, reports are emerging that the UK is in talks to join the Trans-Pacific Partnership to stimulate exports after leaving the  European Union.  A link to the story, along with analysis here.

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