CBI Confederation of British Industry : Trade Update

President Obama delivered his final State of the Union address earlier this month, which America Update addresses in more detail in its own section. What was conspicuously absent in his speech, however, was any substantive mention of the ongoing negotiations for an EU-U.S. trade agreement. The president did challenge Congress to vote on and approve the Trans Pacific Partnership, which was concluded last year, but only in passing. For such a big speech, it begs the question on where trade activism and support stands as a part of Obama's legacy. The answer likely depends on what happens during 2016. The President did manage to get three trade deals through Congress, however, each of those deals was actively pursued and negotiated under previous presidents. TPP has been concluded, but it looks as if approval is going to cause a major fight in Congress. Here's a quick look at what's making the rounds in Washington with respect to trade:

• TTIP talk has taken a backseat to TPP in recent months here in D.C., at least among those who talk about trade and don't negotiate the deals! TTIP supporters in the U.S. were energized, however, when the White House announced that President Obama will attend and participate in the Hannover Messe, the world's largest trade show for industrial technology, this spring. Outwardly the President and USTR both still maintain that they'd like to conclude TTIP negotiations before the end of his term. The President's commitment to attend in Hannover is a measure of his commitment to the EU. He'll be the first sitting U.S. President to attend the trade show.
• The Jones Act is getting press in Washington this month. The American Fuel and Petrochemical Manufacturers has called for the law, which restricts shipping between U.S. ports to U.S. made, crewed and flagged ships, to be eliminated. The law is considered by many in D.C. to be untouchable, however, reform of the Jones Act is aspirational for many EU nations.