Minilateralism by Chris Brummer – a book on finance, trade and monetary diplomacy
Chris Brummer shares How Trade Alliances, Soft Law and Financial Engineering are Redefining Economic Statecraft
Professor of Law : Georgetown University, and Director, Institute of International Economic Law
When Justin Trudeau’s government agreed to a revised North American free trade deal, the Americans said Canada also agreed to something else: joining Donald Trump’s trade war on China. The story is here.
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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
While the United States Mexico Canada Agreement (USMCA) is similar to its NAFTA predecessor in many ways, some experts are cheering the removal of a section little-known to the Canadian public — Chapter 11, Section B., or the Investors-State Dispute Settlement (ISDS) mechanism. The story is here.
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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
Mexican Economy Secretary Ildefonso Guajardo declared that the negotiating teams for the North American Free Trade Agreement (NAFTA) are ready to kick off talks again after they stalled last month. The full story is here.
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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
According to various news sources, NAFTA appears set for renegotiation, not cancellation. Senior officials from Treasury, the Agriculture Department and USTR have all signaled that the chances of termination have diminished.
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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
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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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
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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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
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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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
Mexico’s Ambassador to the United States offered a downbeat assessment of the the agreement’s chances of survival after several rounds of negotiation. The story is here.
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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
Reuters reports that the difficulties stem from a U.S. proposal to raise the minimum threshold for autos to 85 percent North American content from 62.5 percent, and to require half of vehicle content to be from the United States.
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Professor of Law : Georgetown University, and Director, Institute of International Economic Law
The United States, Mexico and Canada are gearing up to re-negotiate NAFTA. President Trump is calling for a smaller trade deficit (the trade deficit from the U.S. to Mexico is $64 Billion).
Mexico relies heavily on the U.S. because 80% of its exports are sold to the United States. Mexico’s economy minister argues if NAFTA is abandoned, the U.S. trade deficit could rise even higher.
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