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Renewing America

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Showing posts for "International Trade and Investment"

The High Stakes in Regional Trade Talks

by Renewing America Staff
European Union chief negotiator Ignacio Garcia Bercero (left) and U.S. chief negotiator Dan Mullaney (right) address a joint news conference during the second round of EU-US trade negotiations for Transatlantic Trade and Investment Partnership in Brussels November 15, 2013 (Francois Lenoir/Courtesy Reuters). European Union chief negotiator Ignacio Garcia Bercero (left) and U.S. chief negotiator Dan Mullaney (right) address a joint news conference during the second round of EU-US trade negotiations for Transatlantic Trade and Investment Partnership in Brussels November 15, 2013 (Francois Lenoir/Courtesy Reuters).

International trade negotiations are at a crucial stage. The multilateral front, with the World Trade Organization (WTO) at its center, is facing a foundational crisis. In a new expert brief, The High Stakes in Regional Trade Talks, Jaime Zabludovsky Kuper and Sergio Gómez Lora explain that the future of international trade, at least in the short and medium term, depends heavily on the outcome of regional agreements such as the Transpacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP).

What’s Behind Obama’s Push to Attract Foreign Businesses?

by Rebecca Strauss
U.S. President Barack Obama at the SelectUSA 2013 Investment Summit (Courtesy Reuters). U.S. President Barack Obama at the SelectUSA 2013 Investment Summit (Courtesy Reuters).

Last week the Obama administration hosted the first-ever national summit showcasing the United States as an attractive place to do business, part of a newish initiative called SelectUSA. The event was sold out. In attendance were hundreds of representatives from foreign companies along with U.S. local and state government officials looking to attract their business. The speaker lineup was stacked to impress. President Obama and the secretaries of Commerce, Treasury, and State all separately graced the podium. Panels were filled with big-time CEOs from companies like Dow, Caterpillar, and Walmart. The event’s message: the United States is “open for business” and the Obama administration is serious about it. Read more »

The Renewing America Interview: Jon Huntsman on the Wisdom of Boosting U.S.-China Economic Ties

by Jonathan Masters
Former Utah governor Jon Huntsman (Courtesy Reuters). Former Utah governor Jon Huntsman (Courtesy Reuters).

Later this week the U.S. Department of Commerce will host its inaugural SelectUSA Summit, an annual convention intended to promote overseas investment in the United States. The sold-out, two-day forum will connect international businesses with U.S. economic development leaders at the federal, state, and local levels. With lingering high unemployment in the wake of the financial crisis, the White House has made attracting foreign investment and insourcing jobs a top economic priority. Read more »

Washington’s Gridlock and Foreign Investment

by Guest Blogger for Edward Alden
A 100 yuan banknote is placed next to $100 banknotes (Petar Kujundzic/Courtesy Reuters). A 100 yuan banknote is placed next to $100 banknotes (Petar Kujundzic/Courtesy Reuters).

Thilo Hanemann is Research Director at the Rhodium Group, an economic research firm based in New York. Jacob Kirkegaard is leader of Rhodium Group’s advanced economies practice and a senior fellow at the Peterson Institute for International Economics. Read more »

Foreign Investment and U.S. National Security

by Jonathan Masters
A cleaner wipes the glass door of a Huawei office in Wuhan, Hubei province (Courtesy Reuters). A cleaner wipes the glass door of a Huawei office in Wuhan, Hubei province (Courtesy Reuters).

The United States is both the world’s largest foreign direct investor and the largest beneficiary of foreign direct investment (FDI). But like every sovereign country, it has sought to temper its embrace of open markets with the protection of national security interests. Achieving this balance, which has shifted over time, has meant placing certain limitations on overseas investment in strategically sensitive sectors of the U.S. economy. Read more »

The Tobacco Problem in U.S. Trade

by Renewing America Staff

In the context of the Trans-Pacific Partnership, a pending trade deal between the U.S. and eleven other countries, the White House has a tremendous opportunity to forge a new approach on tobacco that balances U.S. mandates on trade with its obligations to promote public health at home and abroad, writes CFR Fellow Thomas Bollyky in this CFR Expert Brief.

Getting to Yes on Transatlantic Trade

by Renewing America Staff

The United States and the European Union should create a new global regulatory blueprint through the just-launched Transatlantic Trade and Investment Partnership (TTIP) negotiations, CFR Senior Fellow for Global Health, Economics, and Development Thomas J. Bollyky and Columbia Law School’s Anu Bradford write in their new Foreign Affairs article, “Getting to Yes on Transatlantic Trade.” In an era of global supply chains, disparate and overlapping regulatory policies are the central hindrance to greater trade between the U.S. and the EU. If TTIP negotiators focus on sectors in which the two share similar trade and regulation goals, the agreement could serve as a necessary foundation for future transatlantic and global trade cooperation.

The Case for Allowing U.S. Crude Oil Exports

by Renewing America Staff

In an era of rising U.S. oil production, long-standing restrictions on crude oil exports no longer serve U.S. interests, CFR Fellow for Energy and National Security Blake Clayton argues in this Renewing America Policy Innovation Memorandum, The Case for Allowing U.S. Crude Oil Exports. Export restrictions reduce the value of U.S. crude oil, costing the country a potential $15 billion in lost revenue annually. Allowing the market to work freely would stimulate U.S. production, advance U.S. foreign policy goals and demonstrate the U.S. commitment to freer trade, without jeopardizing energy security.

The U.S.-EU Spying Fiasco: Why Commercial Espionage is a Bad Idea for the United States

by Edward Alden
Security cameras near the main entrance of the European Union Council building in Brussels (Francois Lenoir/Courtesy Reuters) Security cameras near the main entrance of the European Union Council building in Brussels (Francois Lenoir/Courtesy Reuters)

When I was a young reporter in 1993 covering the final days of the Uruguay Round world trade negotiations in Geneva, I got a strange phone call in my hotel room from one of the lobbyists for a big U.S. engine manufacturer. The question of whether government subsidies for aircraft engines would be restricted under the new World Trade Organization rules was one of the big, outstanding issues for the United States and the European Union nearing the end of the negotiations. The U.S. companies – Pratt & Whitney and General Electric – were worried that new rules favored by the EU to curb subsidies could restrict their ability to spin off commercial products from work on Pentagon military contracts, and benefit rival Rolls-Royce, the UK engine maker. Read more »

Pork and Politics: Chinese Investment in the United States Keeps on Growing

by Edward Alden
A package of Smithfield Bacon (daves cupboard/Flickr). A package of Smithfield Bacon (daves cupboard/Flickr).

Another day, another major acquisition of a U.S. firm by a Chinese company. The $4.7 billion deal announced today in which China’s Shuanghui Group has agreed to buy the world’s biggest pork producer, Smithfield, is the largest such transaction to date, and nearly double the price paid last year by Dalian Wanda to acquire the U.S. movie theater company AMC. But in every other respect it is just another in a growing string of large, and only moderately controversial, Chinese purchases of U.S. firms. Read more »