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GLOBAL TRENDS 2040
Global Trends 2040 – A More Contested World. DURING THE PAST YEAR, THE COVID-19 PANDEMIC HAS REMINDED THE WORLD OF ITS FRAGILITY AND DEMONSTRATED THE INHERENT RISKS OF HIGH LEVELS OF INTERDEPENDENCE. IN COMING YEARS AND DECADES, THE WORLD WILL FACE MORE INTENSE AND CASCADING GLOBAL CHALLENGES RANGING FROM DISEASE TO THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS The pandemic is not under control anywhere unless it is controlled everywhere. Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deludingthemselves if they
WITA WEBINAR: COVID-19 & TRADE WITA Webinar Featuring: Ralph Carter, Staff Vice President, Regulatory Affairs, FedEx Corporation Phil Levy, Chief Economist, Flexport Curtis Robinhold, Executive Director, Port of Portland Evelyn Suarez, Principal, The Suarez Firm . Webinar Summary: Moderator Evelyn Suarez began by asking the panelists how the pandemic has been impacting trade, which led to a discussion with Phil Levy on CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Scenario 1, Current Path: Despite China’s rise, the United States will remain LAC’s top trading partner through 2035. This will occur even though, from 2021 to 2035, LAC-China trade is expected to increase 1.8 times the expansion rate of global trade, reaching more than $700 billion (more than doubling 2020 figures). WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN 05/12/2021 at 10:00 AM (US/Eastern) WITA Webinar WITA Online Event. Please join WITA as we continue our Trade & Environment Series by looking at how carbon border adjustment measures (CBAM) fit in the context of national and multilateral efforts to reduce carbon’s impact on climate change. This event is free to attend thanks to thesupport of
BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION Revitalizing the WTO under a Biden administration. Longstanding bipartisan US concerns about the WTO will persist and the need for reform will be no less important under a Biden administration than a Trump one. While many in Geneva and elsewhere around the world are finally talking about WTO revitalization for the first time,philosophical
CUSTOMS DUTIES ON SOFTWARE AND OTHER DIGITAL EXPORTS The United States and many other countries around the world have benefited from an unprecedented period of growth and innovation powered by the software-enabled digital economy and supported by the World Trade Organization (WTO) Moratorium on Customs Duties on Electronic Transmissions (Moratorium) – an agreement among WTO members not to impose customs duties onTHE LONGER TELEGRAM
5 THE LONGER TELEGRAM: TOWARD A NEW AMERICAN CHINA STRATEGY FOREWORD TBY FREDERICK KEMPE oday the Atlantic Council publishes an extraordinary new strategy paper that o!ers one of the most insightful and rigorous examina- WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA is the largest non-profit, non-partisan organization dedicated to providing a neutral forum in the nation’s capital for the open and robust discussion of international tradeGLOBAL TRENDS 2040
Global Trends 2040 – A More Contested World. DURING THE PAST YEAR, THE COVID-19 PANDEMIC HAS REMINDED THE WORLD OF ITS FRAGILITY AND DEMONSTRATED THE INHERENT RISKS OF HIGH LEVELS OF INTERDEPENDENCE. IN COMING YEARS AND DECADES, THE WORLD WILL FACE MORE INTENSE AND CASCADING GLOBAL CHALLENGES RANGING FROM DISEASE TO THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS The pandemic is not under control anywhere unless it is controlled everywhere. Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deludingthemselves if they
WITA WEBINAR: COVID-19 & TRADE WITA Webinar Featuring: Ralph Carter, Staff Vice President, Regulatory Affairs, FedEx Corporation Phil Levy, Chief Economist, Flexport Curtis Robinhold, Executive Director, Port of Portland Evelyn Suarez, Principal, The Suarez Firm . Webinar Summary: Moderator Evelyn Suarez began by asking the panelists how the pandemic has been impacting trade, which led to a discussion with Phil Levy on CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Scenario 1, Current Path: Despite China’s rise, the United States will remain LAC’s top trading partner through 2035. This will occur even though, from 2021 to 2035, LAC-China trade is expected to increase 1.8 times the expansion rate of global trade, reaching more than $700 billion (more than doubling 2020 figures). WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN 05/12/2021 at 10:00 AM (US/Eastern) WITA Webinar WITA Online Event. Please join WITA as we continue our Trade & Environment Series by looking at how carbon border adjustment measures (CBAM) fit in the context of national and multilateral efforts to reduce carbon’s impact on climate change. This event is free to attend thanks to thesupport of
BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION Revitalizing the WTO under a Biden administration. Longstanding bipartisan US concerns about the WTO will persist and the need for reform will be no less important under a Biden administration than a Trump one. While many in Geneva and elsewhere around the world are finally talking about WTO revitalization for the first time,philosophical
CUSTOMS DUTIES ON SOFTWARE AND OTHER DIGITAL EXPORTS The United States and many other countries around the world have benefited from an unprecedented period of growth and innovation powered by the software-enabled digital economy and supported by the World Trade Organization (WTO) Moratorium on Customs Duties on Electronic Transmissions (Moratorium) – an agreement among WTO members not to impose customs duties onTHE LONGER TELEGRAM
5 THE LONGER TELEGRAM: TOWARD A NEW AMERICAN CHINA STRATEGY FOREWORD TBY FREDERICK KEMPE oday the Atlantic Council publishes an extraordinary new strategy paper that o!ers one of the most insightful and rigorous examina-WITA
WITA is the largest non-profit, non-partisan organization dedicated to providing a neutral forum in the nation’s capital for the open and robust discussion of international tradeEVENT TYPE WITA
Thursday, June 10, 2021 at 11:00 AM (US/Eastern) WITA Online Event. Please join WITA as we discuss what we might expect to see at the upcoming US-EU summit. Event will be held on WITA’s Zoom Webinar Platform. Learn more. Upcoming, Webinar, WITA. THE SILVER LININGS OF VIRTUAL COMMERCIAL DIPLOMACY The pandemic has shaken up how everyone does business across the globe. As a team and an organization, all of us at ITA have had to adapt to the many challenges of working virtually from home. ECONOMIC FORCES, NOT TARIFFS, DRIVE CHANGES IN TRADE BALANCES New IMF research finds that macroeconomic factors, not tariffs, explain most of the changes in trade balances between two countries. Bilateral trade balances (the difference in the value of exports and imports between two countries) have come under scrutiny recently. SAVE-THE-DATE! WITA WEBINAR: WHAT WAS ACHIEVED AT THE U.S Event to be held virtually on Zoom Speakers To Be Announced! Co-Hosted with the Institute for International Economic Policy at The George Washington University TRADE REMEDIES: ENSURING A FREE AND FAIR INTERNATIONAL At the core of President Biden’s Build Back Better initiative is economic recovery that drives wage growth and leads to better outcomesfor all Americans.
ATP RESEARCH
America’s Trade Policy’s Research Library provides curated content on the most important trade issues being addressed by policy makersaround the world.
SERVICE OFFSHORING AND EXPORT EXPERIENCE Service inputs are a key component of the costs of exporting, and contribute to explain the process of internationalization of firms. A new dataset on the participation of French firms in global value chains reveals that firms with longer export experience in a marketare
THE G7 TESTS
The Group of Seven (G7) has had a bad couple of decades. Riven by internal differences and lack of common purpose, replaced by the G20 as the effective steering group for the global economy, and belittled by Donald Trump, the forum bringing together the world’s seven largest advanced market democracies—the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada—plus CHINESE INVESTMENT IN LATIN AMERICA: SECTORAL Over the last decade China’s investment in Latin America and the Caribbean (LAC) has increased substantially in volume and become more diversified from natural resources to other industries. WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA is the largest non-profit, non-partisan organization dedicated to providing a neutral forum in the nation’s capital for the open and robust discussion of international tradeGLOBAL TRENDS 2040
Global Trends 2040 – A More Contested World. DURING THE PAST YEAR, THE COVID-19 PANDEMIC HAS REMINDED THE WORLD OF ITS FRAGILITY AND DEMONSTRATED THE INHERENT RISKS OF HIGH LEVELS OF INTERDEPENDENCE. IN COMING YEARS AND DECADES, THE WORLD WILL FACE MORE INTENSE AND CASCADING GLOBAL CHALLENGES RANGING FROM DISEASE TO HOW MUCH VACCINE WILL BE PRODUCED THIS YEAR? Currently there is a shortage of COVID-19 vaccines. The 1.73 billion doses of vaccine produced to date pales when compared to the 10.82 billion doses needed to inoculate 75% of the world’s population aged 5 or over.1 The shortage is acute in many developing countries that have been unable to secure vaccine supplies—hence legitimate concerns about the equitable access. THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS The pandemic is not under control anywhere unless it is controlled everywhere. Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deludingthemselves if they
WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN 05/12/2021 at 10:00 AM (US/Eastern) WITA Webinar WITA Online Event. Please join WITA as we continue our Trade & Environment Series by looking at how carbon border adjustment measures (CBAM) fit in the context of national and multilateral efforts to reduce carbon’s impact on climate change. This event is free to attend thanks to thesupport of
CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Scenario 1, Current Path: Despite China’s rise, the United States will remain LAC’s top trading partner through 2035. This will occur even though, from 2021 to 2035, LAC-China trade is expected to increase 1.8 times the expansion rate of global trade, reaching more than $700 billion (more than doubling 2020 figures). BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION Revitalizing the WTO under a Biden administration. Longstanding bipartisan US concerns about the WTO will persist and the need for reform will be no less important under a Biden administration than a Trump one. While many in Geneva and elsewhere around the world are finally talking about WTO revitalization for the first time,philosophical
CHINA: RISE OR DEMISE? Policymakers increasingly view China’s rapidly growing wealth as a threat. China currently ranks second, or perhaps even first, in the world in gross domestic product (although 78th in per capita GDP), and the fear is that China will acquire military prowess commensurate with its wealth and feel impelled to carry out undesirable militaryadventures.
THE LONGER TELEGRAM
5 THE LONGER TELEGRAM: TOWARD A NEW AMERICAN CHINA STRATEGY FOREWORD TBY FREDERICK KEMPE oday the Atlantic Council publishes an extraordinary new strategy paper that o!ers one of the most insightful and rigorous examina- WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA is the largest non-profit, non-partisan organization dedicated to providing a neutral forum in the nation’s capital for the open and robust discussion of international tradeGLOBAL TRENDS 2040
Global Trends 2040 – A More Contested World. DURING THE PAST YEAR, THE COVID-19 PANDEMIC HAS REMINDED THE WORLD OF ITS FRAGILITY AND DEMONSTRATED THE INHERENT RISKS OF HIGH LEVELS OF INTERDEPENDENCE. IN COMING YEARS AND DECADES, THE WORLD WILL FACE MORE INTENSE AND CASCADING GLOBAL CHALLENGES RANGING FROM DISEASE TO HOW MUCH VACCINE WILL BE PRODUCED THIS YEAR? Currently there is a shortage of COVID-19 vaccines. The 1.73 billion doses of vaccine produced to date pales when compared to the 10.82 billion doses needed to inoculate 75% of the world’s population aged 5 or over.1 The shortage is acute in many developing countries that have been unable to secure vaccine supplies—hence legitimate concerns about the equitable access. THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS The pandemic is not under control anywhere unless it is controlled everywhere. Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deludingthemselves if they
WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN 05/12/2021 at 10:00 AM (US/Eastern) WITA Webinar WITA Online Event. Please join WITA as we continue our Trade & Environment Series by looking at how carbon border adjustment measures (CBAM) fit in the context of national and multilateral efforts to reduce carbon’s impact on climate change. This event is free to attend thanks to thesupport of
CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Scenario 1, Current Path: Despite China’s rise, the United States will remain LAC’s top trading partner through 2035. This will occur even though, from 2021 to 2035, LAC-China trade is expected to increase 1.8 times the expansion rate of global trade, reaching more than $700 billion (more than doubling 2020 figures). BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION Revitalizing the WTO under a Biden administration. Longstanding bipartisan US concerns about the WTO will persist and the need for reform will be no less important under a Biden administration than a Trump one. While many in Geneva and elsewhere around the world are finally talking about WTO revitalization for the first time,philosophical
CHINA: RISE OR DEMISE? Policymakers increasingly view China’s rapidly growing wealth as a threat. China currently ranks second, or perhaps even first, in the world in gross domestic product (although 78th in per capita GDP), and the fear is that China will acquire military prowess commensurate with its wealth and feel impelled to carry out undesirable militaryadventures.
THE LONGER TELEGRAM
5 THE LONGER TELEGRAM: TOWARD A NEW AMERICAN CHINA STRATEGY FOREWORD TBY FREDERICK KEMPE oday the Atlantic Council publishes an extraordinary new strategy paper that o!ers one of the most insightful and rigorous examina-EVENT TYPE WITA
Thursday, June 10, 2021 at 11:00 AM (US/Eastern) WITA Online Event. Please join WITA as we discuss what we might expect to see at the upcoming US-EU summit. Event will be held on WITA’s Zoom Webinar Platform. Learn more. Upcoming, Webinar, WITA. SAVE-THE-DATE! WITA WEBINAR: WHAT WAS ACHIEVED AT THE U.S Event to be held virtually on Zoom Speakers To Be Announced! Co-Hosted with the Institute for International Economic Policy at The George Washington University THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS The pandemic is not under control anywhere unless it is controlled everywhere. Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deludingthemselves if they
FOSTERING ECONOMIC RESILIENCE IN A WORLD OF OPEN AND Fostering Economic Resilience in a World of Open and Integrated Markets says the devastating impacts of the Global Financial Crisis and now the COVID-19 pandemic will continue to leave lasting scars on our economies and societies. TRADE NEWS - WITA.ORG TRADE RESOURCES. Navigating the international trade landscape can be complicated and confusing. Whether you are a newcomer to the world of trade or a seasoned trade professional, let WITA be your guide to the ways and means of international trade. WITA WEBINAR: US-EU & G7 SUMMITS: WHAT’S AT STAKE ON TRADE? On Thursday, June 9, WITA discussed what we might expect to see at the upcoming US-EU summit, and whether two of the three largest economies in the world can find common ground on these and other critical tradeissues.
ATP RESEARCH
America’s Trade Policy’s Research Library provides curated content on the most important trade issues being addressed by policy makersaround the world.
THE G7 TESTS
The Group of Seven (G7) has had a bad couple of decades. Riven by internal differences and lack of common purpose, replaced by the G20 as the effective steering group for the global economy, and belittled by Donald Trump, the forum bringing together the world’s seven largest advanced market democracies—the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada—plusBLOGS - WITA.ORG
Contributors provide unique perspectives on critical trade issues. Author’s views are their own, and do not reflect the views of WITA, its Board or its staff. WHY THE EXTENT OF INTRA-AFRICAN TRADE IS MUCH HIGHER THAN The African continent is often compared in a poor light vis-à-vis other continents in terms of the extent of intraregional trade. On a continental level, this argument, at first sight, seems true given the low percentage of intra-African trade of the region’s total trade(Figure 1).
WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA educates policy makers and the public about the most pressing international trade and economic policy issues of the day. Register for upcoming events and see videos of past events.GLOBAL TRENDS 2040
during the past year, the covid-19 pandemic has reminded the world of its fragility and demonstrated the inherent risks of high levels ofinterdependence.
WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN Event to be held virtually on Zoom WITA Webinar Featuring: Dave Banks, Fellow at Bipartisan Policy Center, Senior Fellow at Atlantic CouncilAndrew Shoyer,
THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deluding themselves if they think they can eradicate COVID-19 at home and speed their economic recoveries while the pandemic rages elsewhere, WITA WEBINAR: COVID-19 & TRADE WITA Webinar Featuring: Ralph Carter, Staff Vice President, Regulatory Affairs, FedEx Corporation Phil Levy, Chief Economist, Flexport Curtis Robinhold, Executive Director, Port of Portland Evelyn Suarez, Principal, The Suarez Firm . Webinar Summary: Moderator Evelyn Suarez began by asking the panelists how the pandemic has been impacting trade, which led to a discussion with Phil Levy on CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Trade between China and Latin America and the Caribbean (LAC) experienced dramatic growth since the early 2000s. Going forward,China is poised
BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION It is also important to recognize that US concerns go well beyond the Appellate Body and span all three major WTO functions. With respect to negotiations, policymakers in both political parties have bemoaned the system’s inability to update the rules, including to address key Democratic priorities like the environment and labor as well as China’s non-market practices. CUSTOMS DUTIES ON SOFTWARE AND OTHER DIGITAL EXPORTS The United States and many other countries around the world have benefited from an unprecedented period of growth and innovation powered by the software-enabled digital economy and supported by the World Trade Organization (WTO) Moratorium on Customs Duties on Electronic Transmissions (Moratorium) – an agreement among WTO members not to impose customs duties onTHE LONGER TELEGRAM
5 THE LONGER TELEGRAM: TOWARD A NEW AMERICAN CHINA STRATEGY FOREWORD TBY FREDERICK KEMPE oday the Atlantic Council publishes an extraordinary new strategy paper that o!ers one of the most insightful and rigorous examina- WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA educates policy makers and the public about the most pressing international trade and economic policy issues of the day. Register for upcoming events and see videos of past events.GLOBAL TRENDS 2040
during the past year, the covid-19 pandemic has reminded the world of its fragility and demonstrated the inherent risks of high levels ofinterdependence.
WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN Event to be held virtually on Zoom WITA Webinar Featuring: Dave Banks, Fellow at Bipartisan Policy Center, Senior Fellow at Atlantic CouncilAndrew Shoyer,
THE PANDEMIC IS NOT UNDER CONTROL ANYWHERE UNLESS IT IS Having largely cornered global supplies of COVID-19 vaccines, countries in Europe are clashing with one another over hoarding their doses, while sending poor countries to the back of the line. Yet, rich, vaccine-manufacturing countries are deluding themselves if they think they can eradicate COVID-19 at home and speed their economic recoveries while the pandemic rages elsewhere, WITA WEBINAR: COVID-19 & TRADE WITA Webinar Featuring: Ralph Carter, Staff Vice President, Regulatory Affairs, FedEx Corporation Phil Levy, Chief Economist, Flexport Curtis Robinhold, Executive Director, Port of Portland Evelyn Suarez, Principal, The Suarez Firm . Webinar Summary: Moderator Evelyn Suarez began by asking the panelists how the pandemic has been impacting trade, which led to a discussion with Phil Levy on CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Trade between China and Latin America and the Caribbean (LAC) experienced dramatic growth since the early 2000s. Going forward,China is poised
BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION It is also important to recognize that US concerns go well beyond the Appellate Body and span all three major WTO functions. With respect to negotiations, policymakers in both political parties have bemoaned the system’s inability to update the rules, including to address key Democratic priorities like the environment and labor as well as China’s non-market practices. CUSTOMS DUTIES ON SOFTWARE AND OTHER DIGITAL EXPORTS The United States and many other countries around the world have benefited from an unprecedented period of growth and innovation powered by the software-enabled digital economy and supported by the World Trade Organization (WTO) Moratorium on Customs Duties on Electronic Transmissions (Moratorium) – an agreement among WTO members not to impose customs duties onTHE LONGER TELEGRAM
5 THE LONGER TELEGRAM: TOWARD A NEW AMERICAN CHINA STRATEGY FOREWORD TBY FREDERICK KEMPE oday the Atlantic Council publishes an extraordinary new strategy paper that o!ers one of the most insightful and rigorous examina-WITA
WITA educates policy makers and the public about the most pressing international trade and economic policy issues of the day. Register for upcoming events and see videos of past events.EVENT TYPE WITA
Washington International Trade Association (WITA) Ronald Reagan Building and International Trade Center 1300 Pennsylvania Avenue, NWSuite G-329
HOW MUCH VACCINE WILL BE PRODUCED THIS YEAR? Currently there is a shortage of COVID-19 vaccines. The 1.73 billion doses of vaccine produced to date pales when compared to the 10.82 billion doses needed to inoculate 75% of the world’s population aged 5 or over.1 The shortage is acute in many developing countries that have been unable to secure vaccine supplies—hence legitimate concerns about the equitable access. THE 8-9 MARCH “GLOBAL C19 VACCINE SUPPLY CHAIN AND On Monday and Tuesday of this week, the Chatham House hosted an event that was”sponsored by COVAX (the COVID-19 vaccine initiative led by the World Health Organization, the Coalition for Epidemic Preparedness Innovations and Gavi, the Vaccine Alliance), together with the Developing Countries Vaccine Manufacturers Network (DCVMN), the Biotechnology Innovation FOSTERING ECONOMIC RESILIENCE IN A WORLD OF OPEN AND Fostering Economic Resilience in a World of Open and Integrated Markets says the devastating impacts of the Global Financial Crisis and now the COVID-19 pandemic will continue to leave lasting scars on our economies and societies. TRADE NEWS - WITA.ORG TRADE RESOURCES. Navigating the international trade landscape can be complicated and confusing. Whether you are a newcomer to the world of trade or a seasoned trade professional, let WITA be your guide to the ways and means of international trade.ATP RESEARCH
America’s Trade Policy’s Research Library provides curated content on the most important trade issues being addressed by policy makersaround the world.
BLOGS - WITA.ORG
Contributors provide unique perspectives on critical trade issues. Author’s views are their own, and do not reflect the views of WITA, its Board or its staff. WHY THE EXTENT OF INTRA-AFRICAN TRADE IS MUCH HIGHER THAN The African continent is often compared in a poor light vis-à-vis other continents in terms of the extent of intraregional trade. On a continental level, this argument, at first sight, seems true given the low percentage of intra-African trade of the region’s total trade(Figure 1).
TOPICS EXPORT
TRADE RESOURCES. Navigating the international trade landscape can be complicated and confusing. Whether you are a newcomer to the world of trade or a seasoned trade professional, let WITA be your guide to the ways and means of international trade. WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA is the largest non-profit, non-partisan organization dedicated to providing a neutral forum in the nation’s capital for the open and robust discussion of international trade WITA WEBINAR: COVID-19 & TRADE WITA Webinar Featuring: Ralph Carter, Staff Vice President, Regulatory Affairs, FedEx Corporation Phil Levy, Chief Economist, Flexport Curtis Robinhold, Executive Director, Port of Portland Evelyn Suarez, Principal, The Suarez Firm . Webinar Summary: Moderator Evelyn Suarez began by asking the panelists how the pandemic has been impacting trade, which led to a discussion with Phil Levy on WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN 05/12/2021 at 10:00 AM (US/Eastern) WITA Webinar WITA Online Event. Please join WITA as we continue our Trade & Environment Series by looking at how carbon border adjustment measures (CBAM) fit in the context of national and multilateral efforts to reduce carbon’s impact on climate change. This event is free to attend thanks to thesupport of
CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Scenario 1, Current Path: Despite China’s rise, the United States will remain LAC’s top trading partner through 2035. This will occur even though, from 2021 to 2035, LAC-China trade is expected to increase 1.8 times the expansion rate of global trade, reaching more than $700 billion (more than doubling 2020 figures). CUSTOMS DUTIES ON SOFTWARE AND OTHER DIGITAL EXPORTS The United States and many other countries around the world have benefited from an unprecedented period of growth and innovation powered by the software-enabled digital economy and supported by the World Trade Organization (WTO) Moratorium on Customs Duties on Electronic Transmissions (Moratorium) – an agreement among WTO members not to impose customs duties on REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION Revitalizing the WTO under a Biden administration. Longstanding bipartisan US concerns about the WTO will persist and the need for reform will be no less important under a Biden administration than a Trump one. While many in Geneva and elsewhere around the world are finally talking about WTO revitalization for the first time,philosophical
BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical THE US PROPOSALS ON DIGITAL SERVICES TAXES AND MINIMUM TAX The minimum tax rate proposal would entitle countries to increase taxation on firms’ profits, if those profits were only taxed elsewhere below the global minimum rate. The intention is to reduce incentives for US firms to shift profits to low-tax countries. On both these issues, a deal based broadly around the current US proposal is a REVITALIZING THE WORLD TRADE ORGANIZATION Revitalizing the World Trade Organization. All three pillars of the World Trade Organization (WTO) have played a key role in promoting “rules-based” international trade for the past twenty-five years. Negotiations: The negotiations creating the WTO were a major success, leading to a broad range of new rules that prohibit members from NATIONAL SECURITY AND INTERNATIONAL TRADE National Security and International Trade. On Tuesday, September 18th, WITA held a panel discussing the developments in National Security and International Trade as Congress is working to rewrite the laws concerning foreign investment and export controls, and new and renewed sanctions are in place against countries such as Iran and Russia. WITALOGINCONTACTBECOME A MEMBEREVENTSGET INVOLVEDYTP WITA is the largest non-profit, non-partisan organization dedicated to providing a neutral forum in the nation’s capital for the open and robust discussion of international trade WITA WEBINAR: COVID-19 & TRADE WITA Webinar Featuring: Ralph Carter, Staff Vice President, Regulatory Affairs, FedEx Corporation Phil Levy, Chief Economist, Flexport Curtis Robinhold, Executive Director, Port of Portland Evelyn Suarez, Principal, The Suarez Firm . Webinar Summary: Moderator Evelyn Suarez began by asking the panelists how the pandemic has been impacting trade, which led to a discussion with Phil Levy on WITA WEBINAR: HOW CARBON BORDER ADJUSTMENT MEASURES FIT IN 05/12/2021 at 10:00 AM (US/Eastern) WITA Webinar WITA Online Event. Please join WITA as we continue our Trade & Environment Series by looking at how carbon border adjustment measures (CBAM) fit in the context of national and multilateral efforts to reduce carbon’s impact on climate change. This event is free to attend thanks to thesupport of
CHINA-LAC TRADE: FOUR SCENARIOS IN 2035 Scenario 1, Current Path: Despite China’s rise, the United States will remain LAC’s top trading partner through 2035. This will occur even though, from 2021 to 2035, LAC-China trade is expected to increase 1.8 times the expansion rate of global trade, reaching more than $700 billion (more than doubling 2020 figures). CUSTOMS DUTIES ON SOFTWARE AND OTHER DIGITAL EXPORTS The United States and many other countries around the world have benefited from an unprecedented period of growth and innovation powered by the software-enabled digital economy and supported by the World Trade Organization (WTO) Moratorium on Customs Duties on Electronic Transmissions (Moratorium) – an agreement among WTO members not to impose customs duties on REVITALIZING THE WTO UNDER A BIDEN ADMINISTRATION Revitalizing the WTO under a Biden administration. Longstanding bipartisan US concerns about the WTO will persist and the need for reform will be no less important under a Biden administration than a Trump one. While many in Geneva and elsewhere around the world are finally talking about WTO revitalization for the first time,philosophical
BIDEN TEAM PULLS PROPOSED GPA MODIFICATION TO REMOVE MEDICINES The Biden trade team has reversed an order issued by former President Trump to remove essential medicines from U.S. coverage under the WTO Government Procurement Agreement (GPA). In an April 16 filing with the WTO, the United States withdrew “effective immediately” a proposed modification filed by the U.S. in November 2020 to remove more than 300 medicines and medical THE US PROPOSALS ON DIGITAL SERVICES TAXES AND MINIMUM TAX The minimum tax rate proposal would entitle countries to increase taxation on firms’ profits, if those profits were only taxed elsewhere below the global minimum rate. The intention is to reduce incentives for US firms to shift profits to low-tax countries. On both these issues, a deal based broadly around the current US proposal is a REVITALIZING THE WORLD TRADE ORGANIZATION Revitalizing the World Trade Organization. All three pillars of the World Trade Organization (WTO) have played a key role in promoting “rules-based” international trade for the past twenty-five years. Negotiations: The negotiations creating the WTO were a major success, leading to a broad range of new rules that prohibit members from NATIONAL SECURITY AND INTERNATIONAL TRADE National Security and International Trade. On Tuesday, September 18th, WITA held a panel discussing the developments in National Security and International Trade as Congress is working to rewrite the laws concerning foreign investment and export controls, and new and renewed sanctions are in place against countries such as Iran and Russia.EVENT TYPE WITA
Thursday, June 10, 2021 at 11:00 AM (US/Eastern) WITA Online Event. Please join WITA as we discuss what we might expect to see at the upcoming US-EU summit. Event will be held on WITA’s Zoom Webinar Platform. Learn more. Upcoming, Webinar, WITA.GLOBAL TRENDS 2040
Global Trends 2040 – A More Contested World. DURING THE PAST YEAR, THE COVID-19 PANDEMIC HAS REMINDED THE WORLD OF ITS FRAGILITY AND DEMONSTRATED THE INHERENT RISKS OF HIGH LEVELS OF INTERDEPENDENCE. IN COMING YEARS AND DECADES, THE WORLD WILL FACE MORE INTENSE AND CASCADING GLOBAL CHALLENGES RANGING FROM DISEASE TO BUILDING RESILIENT SUPPLY CHAINS, REVITALIZING AMERICAN The COVID-19 pandemic and resulting economic dislocation revealed long-standing vulnerabilities in our supply chains. The pandemic’s drastic impacts on demand patterns for a range of medical products including essential medicines wreaked havoc on the U.S. healthcaresystem.
HOW MUCH VACCINE WILL BE PRODUCED THIS YEAR? Currently there is a shortage of COVID-19 vaccines. The 1.73 billion doses of vaccine produced to date pales when compared to the 10.82 billion doses needed to inoculate 75% of the world’s population aged 5 or over.1 The shortage is acute in many developing countries that have been unable to secure vaccine supplies—hence legitimate concerns about the equitable access. TOPICS LIBERALIZATION This paper uses municipal-level data from South Africa for the period 1996–2011 to estimate the medium to long-run effects of trade liberalization on local labor markets. TRADE NEWS - WITA.ORG TRADE RESOURCES. Navigating the international trade landscape can be complicated and confusing. Whether you are a newcomer to the world of trade or a seasoned trade professional, let WITA be your guide to the ways and means of international trade. WHY THE EXTENT OF INTRA-AFRICAN TRADE IS MUCH HIGHER THAN The African continent is often compared in a poor light vis-à-vis other continents in terms of the extent of intraregional trade. On a continental level, this argument, at first sight, seems true given the low percentage of intra-African trade of the region’s total trade(Figure 1).
HOW THE WORLD RAN OUT OF EVERYTHING In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right ADVANCING SUSTAINABLE DEVELOPMENT WITH FDI: WHY POLICY Properly guided, foreign direct investment has transformed the prospects of firms, sectors, regions, and even economies. In particular, developing countries havebenefited from greenfield investments, opportunities have been created for millions of employeesTOPICS EXPORT
TRADE RESOURCES. Navigating the international trade landscape can be complicated and confusing. Whether you are a newcomer to the world of trade or a seasoned trade professional, let WITA be your guide to the ways and means of international trade. Group 5 Created with Sketch. Washington International TradeAssociation WITA
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WITA WEBINAR ON PROPOSALS FOR A GLOBAL MINIMUM TAX Thu Apr 29 | WITA WebinarLearn more
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WITA & Friedrich Naumann Foundation Webinar: Transatlantic Dialogue on U.S., EU and Global Trade04/13/2021
WITA’s Trade & Environment Series: Trading for Good04/20/2021
Remarks from Ambassador Katherine Tai on Trade Policy, the Environmentand Climate Change
04/15/2021
Is the European Union’s Investment Agreement with China Underrated?04/13/2021
WITA & Friedrich Naumann Foundation Webinar: Transatlantic Dialogue on U.S., EU and Global Trade04/13/2021
WITA’s Trade & Environment Series: Trading for Good04/20/2021
Remarks from Ambassador Katherine Tai on Trade Policy, the Environmentand Climate Change
04/15/2021
Is the European Union’s Investment Agreement with China Underrated?04/13/2021
WITA & Friedrich Naumann Foundation Webinar: Transatlantic Dialogue on U.S., EU and Global Trade04/13/2021
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AMERICA’S TRADE POLICY News, commentary and analysis of international trade policy in the U.S. and around the world.Learn More
WITA & Friedrich Naumann Foundation Webinar: Transatlantic Dialogue on U.S., EU and Global Trade04/13/2021
WITA’s Trade & Environment Series: Trading for Good04/20/2021
Remarks from Ambassador Katherine Tai on Trade Policy, the Environmentand Climate Change
04/15/2021
Is the European Union’s Investment Agreement with China Underrated?04/13/2021
WITA & Friedrich Naumann Foundation Webinar: Transatlantic Dialogue on U.S., EU and Global Trade04/13/2021
WITA’s Trade & Environment Series: Trading for Good04/20/2021
Remarks from Ambassador Katherine Tai on Trade Policy, the Environmentand Climate Change
04/15/2021
Is the European Union’s Investment Agreement with China Underrated?04/13/2021
WITA & Friedrich Naumann Foundation Webinar: Transatlantic Dialogue on U.S., EU and Global Trade04/13/2021
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