Foreign affairs

As the trade war between China and the U.S. continues to escalate, both sides exchanged salvos in early July with the U.S. imposing 25 percent tariffs on $34 billion worth of imports from China, followed by a similar response from China.

BBVA Compass assembled a worldly-wise panel in Houston last week to help its Global Markets clients, all of whom maintain assets outside the U.S., sort through the barrage of global economic news to better understand the risks.

After seven years of negotiations, the Canada-Europe Trade Agreement, CETA, has entered into force provisionally.  Under this bilateral agreement, the most ambitious signed to date by Brussels, most custom duties levied on trade flows between both countries will be scrapped.

Dreamers are individuals who were brought to the United States before the age of 16 and who don’t have lawful immigration status.  They’re pursuing the American dream. They came to the United States as children and many of them discovered as adolescents that they had entered the country without documents. They’re the “dreamers” - immigrants and, most of them children of immigrants who are trying to escape from their legal limbo.

For every 100 euros European citizens earn, they pay an average of 50 euros in taxes and contributions.  Of the amount they pay in taxes, only 1 euro is devoted to financing the budget of the European Union.  Thus, in total, Europe manages a budget equivalent to 1% of the gross national income of its Member States.  However, the way this money is invested has a direct impact on the lives of Europeans.

The current climate of change inside and outside Europe has led the European Commission to reflect on the future of its public accounts.  In the document entitled  'The Future of EU finances', the Commission analyzes the current configuration of the budget and its future options. This document is part of a series of reflections brought about by the White Paper on the future of Europe, which set forth the different challenges and scenarios the EU will be facing through 2025.

This is the message the G20 wanted to transmit at the end of the summit that took place last weekend in Hamburg, Germany. However, it does not seem that this actually reflects the tone among the heads of state. The main point of disagreement was around the U.S. position on climate change.  They agreed on issues related to opening markets, international trade and the stability of the financial system.

Recently, the European Commission (EC) presented a White Paper on the Future of Europe. This document comes at a crucial time for the European Union and represents the Commission’s contributions to the Rome Summit On March 25, 2017, the EC explains.

The U.K. is convinced that London will continue to be Europe's fintech capital and a global financial center after Brexit. But other European capitals are hoping to take its place. It will all depend on the long negotiation about to begin between the EU and the U.K.

Just like in past editions, the 47th World Economic Forum annual meeting in Davos drew worldwide attention. Hard brexit, Donald Trump’s presidential inauguration, employment, the future of Europe, the transformation of the banking industry and the challenges for 2017 after a somewhat turbulent year, were the themes that dominated the debate.

Now that the end of 2016 is just a few hours away, it may be the right time to take a look at some of the highlights of a politically charged year.  Elections, referendums, resignations and international events marked the course of the world and grabbed endless headlines.

“It is really moving to see this type of initiatives and how a Foundation like ours can do so much in favor of society. These people have access to loan facilities, but they manage to move forward thanks to their own efforts and will to fight. Their work is spectacular and we are already seeing progress in future generations; their kids and grandchildren go to school and many even make it to college. For me, it has been an incredible visit,” said Francisco González during his visit to some of the projects supported by the BBVA Microfinance Foundation (BBVAMF) in Soacha, a city just outside of Bogota (Colombia).

Just as in previous years, the G20 summit – held in China this year – has drawn worldwide attention. But the leaders of the 20 major economies were not the only ones to meet in Hangzhou. In parallel, business leaders from these same economies presented their proposals in the Business 20 event.

The recent report, The Business of Financial Inclusion: Insights from Banks in Emerging Markets represents a new endeavor for the Institute of International Finance (IIF). It is based on the insights of 24 executives in charge of financial inclusion, a topic of growing interest.

The trade finance or foreign trade activity accompanies people and businesses in their activity importing/exporting goods and services, mitigating the risks that exist in international commercial relations and simplifying the settlement of operations. The same commercial transaction can require different solutions over time, depending on the moment at which it takes place and the role of the parties involved (importer or exporter).

After enduring over 40 civil wars during the 19th century, the 20th century brought the rise of the guerilla warfare to Colombia. Today, in the midst of the 21st century, the country still does not know what it means to live in peace. But hope remains alive today more than ever, thanks to the strides made in the negotiation process that Juan Manuel Santos’ government is holding with the two only guerrillas that remain active in the country, and in Latin America at large: The FARC or Revolutionary Armed Forces of Colombia and the ELN or National Freedom Army. Signing a final deal with these two groups would mean the end of one of the world’s longest-running conflicts in the world.

Op-ed by Tim Bennett for Emerging Europe

2016 is a very critical year for TTIP, and a conclusion of negotiations couldn’t come soon enough for small and medium size companies (SMEs). Nearly 95,000 out of the 28 million US SMEs export to the EU, while about 150,000 of the 20 million SMEs in the EU export to the US Most SMEs do not have the human, financial, or time resources that larger companies have to develop export markets when faced with tariffs, complex customs procedures, duplicative and expensive regulatory approval requirements. These barriers are cost prohibitive for too many SMEs.

The Brexit (the term coined to refer to an eventual departure of the United Kingdom from the European Union) was the main topic discussed during the last European Council, which took place during February 18th and 19th. After two days of negotiations, an agreement was concluded that, in general terms, meets the UK’s demands.

It wasn’t long ago that Jean-Claude Juncker said that politicians all knew what measures were needed to resolve Europe’s problems, but no one knew how to get re-elected after applying them. Now the situation is more complicated. Europe is facing new problems, and it is no longer what needs to be done to address them.

US and EU representatives agreed to extend the current round of talks regarding the Transatlantic Trade and Investment Partnership (TTIP), started on February 22nd, two additional weeks. Both parties were clear about their satisfaction regarding the ground covered over the past days, and ratified their commitment to conclude an agreement in 2016.