Trade & TTIP Related

Chapter News, Trade & TTIP Related

EU challenges Russian export restrictions on wood at WTO

Today, the EU is requesting consultations with Russia at the World Trade Organization (WTO) concerning export restrictions placed by Russia on wood products. The export restrictions consist of significantly increased export duties on certain wood products and a drastic reduction in the number of border crossing points through which exports of wood products can take place. The Russian restrictions are highly detrimental to the EU wood processing industry, which relies on exports from Russia, and create significant uncertainty on the...

Read more

Member News, Trade & TTIP Related

GDLSK | Section 232 National Security Tariffs on EU steel and aluminm converted to Tariff Rate Quotas – tariffs eliminated on in-quota amounts; remain on over quota amounts

Pursuant to two Presidential Proclamations, the Section 232 national security tariffs in place with respect to imports of steel and aluminum articles from member countries of the EU (that are melted and poured in the EU in the case of steel) have been eliminated with respect to quantities specified in new tariff rate quotas.  Imports of aluminum articles must be accompanied by a certificate of analysis.  Imports of EU steel and aluminum articles in excess of the new tariff...

Read more

Chapter News, Trade & TTIP Related

EU and WTO members strike major deal to simplify trade in services

A group of 67 World Trade Organization (WTO) members, including the EU, have today concluded negotiations on a landmark agreement to cut red tape in services trade. The so-called Joint Initiative on Services Domestic Regulation will simplify unnecessarily complicated regulations and ease procedural hurdles faced by SMEs in particular. This agreement will help reduce the costs of global services trade by more than USD 150 billion every year. This is the first WTO deliverable in the area of trade in...

Read more

Member News, Trade & TTIP Related

Faegre Drinker | EU, U.S. Announce Deal on Steel and Aluminum Tariffs

The Deal In January 2018 the Trump administration imposed tariffs on steel and aluminum by invoking Section 232 of the Trade Expansion Act of 1962. This is a Cold War-era law that authorized the president to impose tariffs and other trade restrictions upon a determination that targeted goods are being imported into the United States “in such quantities or under such circumstances as to threaten or impair the national security.” Then-President Trump imposed these tariffs on steel and aluminum products following an investigation and...

Read more

Chapter News, Trade & TTIP Related

EU and US agree to start discussions on a Global Arrangement on Sustainable Steel and Aluminium and suspend steel and aluminium trade disputes

European Commission President von der Leyen and United States President Biden agreed today to start discussions on a Global Arrangement on Sustainable Steel and Aluminium. This marks a new milestone in the transatlantic relationship, and in EU-US efforts to achieve the decarbonisation of the global steel and aluminium industries in the fight against climate change. The two Presidents also agreed to pause the bilateral World Trade Organization disputes on steel and aluminium. This builds on our recent successes in...

Read more

Member News, Trade & TTIP Related

GDLSK | Section 232 tariff relief announced on imports of steel and aluminum from the EU and EU retaliatory tariffs to be lifted

On October 31, 2021, the U.S. and the EU announced steps to, among other things, reestablish historical transatlantic trade flows in steel and aluminum and address shared challenges in the steel and aluminum sector. Among the concrete steps to be taken are the following: 1. Replacement of Section 232 tariffs with tariff-rate quotas (TRQ). Effective January 1, 2022, the United States will replace the existing tariffs on EU steel and aluminum products under Section 232 with TRQs.  Under the TRQ arrangement, historically-based...

Read more

Chapter News, Trade & TTIP Related

Questions and Answers: EU-US negotiations on trade on steel and aluminium

What is the Global Arrangement on Sustainable Steel and Aluminium? The arrangement is intended to facilitate the decarbonising of the steel and aluminium industries, as well as addressing the issue of overcapacity in these industries caused by non-market practices in some economies. The EU and US have agreed to start discussions on this Arrangement as soon as possible, and conclude them within two years. We want to make this Arrangement open to all like-minded economies. How will the Arrangement help achieve decarbonisation? Each...

Read more

Chapter News, Trade & TTIP Related

Joint EU-US Statement on a Global Arrangement on Sustainable Steel and Aluminium

The United States and the EU have today taken joint steps to re-establish historical transatlantic trade flows in steel and aluminium and to strengthen their partnership and address shared challenges in the steel and aluminium sector. As a part of that partnership, they intend to negotiate for the first time, a global arrangement to address carbon intensity and global overcapacity. The European Union and the United States have a shared commitment to joint action and deepened cooperation in these sectors...

Read more

Chapter News, Trade & TTIP Related

EU-US Trade and Technology Council Inaugural Joint Statement

Section 1.  Pittsburgh Statement The EU-US Trade and Technology Council (TTC) met for the first time in Pittsburgh on 29 September 2021. It was co-chaired by European Commission Executive Vice President Margrethe Vestager, European Commission Executive Vice President Valdis Dombrovskis, US Secretary of State Antony Blinken, US Secretary of Commerce Gina Raimondo and US Trade Representative Katherine Tai. The European Union and the United States reaffirm the TTC's objectives to: coordinate approaches to key global technology, economic, and trade...

Read more

Chapter News, Trade & TTIP Related

Value of G20 merchandise trade at new high in Q2 2021, trade in services growth gaining pace

Value of G20 merchandise trade at new high in Q2 2021 but signs of easing growth The second quarter of 2021 saw international merchandise trade for the G20, as measured in seasonally adjusted current US dollars, reach a new high following the record levels already posted in Q1 2021. G20 merchandise exports and imports increased by 4.1% and 6.4% in Q2 2021 compared to the previous quarter, showing a slowdown compared with the rates posted in Q1 2021 (8.6% and 8.5% for...

Read more