Revista de Economie Mondiala/ Journal of Global Economics

11-26

Authors: Agnes Ghibuţiu

Following the escalation of trade confrontations that marked the US-EU relationship over the recent months, President Donald Trump and the President of the European Commission, Jean-Claude Juncker, managed to conclude a trade truce at their White House meeting on July 25. Starting from the analysis of the reasons behind the US-EU trade dispute on the potential tariffs to be imposed by the Trump administration on car imports from the EU, the present article aims to: (1) highlight the circumstances of the recent armistice, along with its content and significance; and (2) reveal the reactions triggered by the new trade deal both in the EU and the US, alongside the related expectations. Even though the compromise removes the threat of an imminent trade war, the question arises whether the US and the EU will meet their commitments. According to the author, there is little hope for the two sides to strike a rapid agreement on the controversial trade issues.

39-56

Authors: Virginia Câmpeanu

After the Ukraine crisis and the annexation of Crimea by the Russian Federation in 2014, the European Union imposed economic sanctions on it. In turn, Russia took retaliatory measures, materialized in the ban on imports of agri-food products from the EU-28 member countries. This article aims to highlight the effects of these measures on a small Baltic country, Latvia, that is a member of the European Union since 2004 and is considered to be the most "Russophone" in terms of ethnic composition and economic, yet not political, dependence on Russia. Given that growth of Latvia is based on exports, and the Russian Federation is its main non-EU trading partner, our research focuses on: a) analyzing the effects of the Russian embargo on bilateral trade, and b) pointing out Latvia's rapid strategic reorientation to counteract the negative effects.