Trade & TTIP Related

Member News, Trade & TTIP Related

Trade wars matter, but not that much

Georges Ugeux, CEO | Galileo Global Advisors  Matt Phillips made an unambiguous conclusion in the New York Times this week, warning Wall Street’s Sky-High Expectations Are About to Collide With Reality. Phillips points at the bleak outlook following the most recent corporate earnings trends. He is right in reminding investors of the real signs we should pay attention to — but too often ignore. What is the disconnect? The equity market today is at the same level as it was a year ago. During those...

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Chapter News, Trade & TTIP Related

Statement on the publication of WTO’s award in the Airbus dispute

Following the publication today of the World Trade Organization's (WTO) award regarding the amount of U.S. countermeasures in the WTO Airbus dispute, Commissioner for Trade Cecilia Malmström made the following statement: “The European Union takes note of the decision of the World Trade Organization's (WTO) arbitration panel in the Airbus case, and the level of possible countermeasures. We remain of the view that even if the United States obtains authorisation from the WTO Dispute Settlement Body, opting for applying countermeasures now would be...

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Member News, Trade & TTIP Related

W.T.O. Decision Authorizes The U.S. To Impose $7.5 Billion In Tariffs On E.U. Products

On October 2, 2019, the World Trade Organization (“W.T.O.”) announced that the U.S. can impose $7.5 billion in tariffs annually on products of the European Union (“E.U.”), in retaliation for the E.U. illegally subsidizing its large civil aircraft manufacturer, Airbus. In anticipation of this decision, the U.S. prepared two lists of tariff provisions on which the U.S. proposed levying retaliatory tariffs of “up to 100%”. Such tariffs would be in addition to the regular rates of duty that apply....

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Member News, Trade & TTIP Related

USTR Announces Additional Exclusions

On September 27, 2019, the U.S. Trade Representative (“USTR”) announced that 203 additional product descriptions will be excluded from the Section 301 trade remedies imposed on Chinese-origin products. The 203 exclusions consist of 92 product descriptions from Tranche 1 and 111 product descriptions from Tranche 2. This latest set supplements the exclusions the USTR previously granted. The list of 203 newly-excluded product descriptions is provided below. The exclusions will be retroactive to when the additional tariffs took effect –...

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Chapter News, Trade & TTIP Related

The European Union and the United States sign an agreement on imports of hormone-free beef

The European Union and the United States, represented respectively by Stavros Lambrinidis, EU Ambassador to the United States and Jani Raappana, Deputy Head of Mission, for the Finnish Presidency of the Council of the EU, and Robert Lighthizer, U.S. Trade Representative, signed today in Washington D.C. an agreement reviewing the functioning of an existing quota to import hormone-free beef into the EU. This is another deliverable of the cooperation fostered by the Joint Statement issued by Presidents Juncker and Trump in July...

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Member News, Trade & TTIP Related

U.S. Steel Importer Sues Department of Commerce for Denial of Section 232 Product Exclusion Request

By Thompson Hine International Trade  On July 30, 2019, JSW Steel (USA), Inc. (JSW) filed a complaint against the United States and, specifically, the Department of Commerce (Department) for denying its product exclusion requests for certain steel imports that otherwise are subject to a 25 percent tariff under President Donald Trump’s March 2018 proclamation implementing such tariffs under Section 232 of the Trade Expansion Act of 1962. The complaint seeks declaratory relief from the U.S. Court of International Trade (CIT) determining that the Department’s...

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Chapter News, Trade & TTIP Related

EU-U.S. trade talks – one year on, Commission presents progress report

Today, July 25, marks the first anniversary of the Joint Statement by President Juncker and President Trump, which launched the new phase in the relationship between the United States and the European Union. As a first step, the Presidents set up an Executive Working Group, co-chaired by Commissioner for Trade Cecilia Malmström and her counterpart US Trade Representative Robert Lighthizer, to work on the different tracks for cooperation identified in the Joint Statement. One year on, a series of concrete actions...

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Member News, Trade & TTIP Related

World Trade Centers Association launches its 2019 Trade & Investment Report

 The World Trade Centers Association (WTCA) unveiled its second annual Trade and Investment Report (www.WTCAReports.org), conducted in partnership with FP Analytics. The report details the key factors that enable cities to remain resilient as dramatic shifts in trade-and-investment policies intensify economic competition. Moreover, on-the-ground insights from interviews with WTCA members around the world reveal that the damage being caused to global trade and investment may be worse than is currently captured by traditional indicators. Global trade grew 3 percent in 2018, but...

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Chapter News, Trade & TTIP Related

Barriers to trade: as protectionism rises, EU continues opening up export markets for European firms

The European Commission's report released today confirms the continuous rise in barriers encountered by European companies in foreign markets. Thanks to the EU's firm response, 123 such barriers have been eliminated since the beginning of the current Commission mandate, allowing for more than €6 billion extra exports in 2018. The latest edition of the Trade and Investment Barriers Report (TIBR) identifies 45 new trade barriers put in place in countries outside the EU in 2018, bringing the total number to...

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