I actually found an interesting columnist at ipolitics.ca named Peter Clark if anyone needs reading material. Nothing he talks about is related to FATCA or FBAR but as a former high level official in the Department of Finance he gives a good idea in many of his columns as to how the US negotiates with many of its trading partners. As he puts it a steel fist in a velvet glove. Much of what he talks about is the US’ “hardline” take it or leave it negotiating stance in something currently known as the Trans Pacific Partnership. Clark is not at all against free trade he is just very much against the US’s hardline negotiating tactics.
Here are some good quotes from one his latest pieces:
This “Chutzpah” Doctrine is based on the value of free access to the U.S. market. It ignores that the U.S. has already sold duty free access to many countries. This fish has been sold, re-sold, cleaned, gutted and digested numerous times. There is a risk that the U.S. will paint itself into a corner and overplay its hand.
The USTR, on the other hand, driven by an unrealistic and unattainable target end date, wants to serve up to Japan, Mexico and Canada a fait accompli on a take it or leave it basis. One of Noda’s most persuasive arguments for joining the TPP will crash and burn.
The broad range of U.S. demands include:
- more English in official documents (will the U.S. put more Japanese and French in theirs?);
- make it easier for financial services to engage in short selling as well as other “americanizations” to financial services to make them more functional;