Trade News

Trade News

Chapter News, Trade & TTIP Related

USTR | Biden Administration Releases 2021 President’s Trade Agenda and 2020 Annual Report

March 01, 2021 | WASHINGTON | The Office of the United States Trade Representative today delivered President Biden’s 2021 Trade Agenda and 2020 Annual Report to Congress, detailing a comprehensive trade policy in support of the Administration’s effort to help the U.S. recover from the COVID-19 pandemic and build back better. The President’s agenda will create millions of good-paying jobs and support America’s working families by tackling four national challenges: building a stronger industrial and innovation base so the future is made...
Member News, Trade & TTIP Related

Thompson Hine | U.S. and UK Temporarily Suspend WTO Retaliatory Tariffs on Large Civilian Aircraft

On March 4, 2021, the United States and the United Kingdom released a joint statement announcing a suspension of World Trade Organization (WTO)-authorized retaliatory tariffs in the WTO’s longest-running trade dispute involving government subsidies for large civilian aircraft.  The statement notes that the UK ceased applying retaliatory tariffs on January 1, 2021, and that the U.S. will suspend its retaliatory tariffs on March 4, 2021.  Both parties agreed to suspend their retaliatory tariffs for a period of four months, until July...
Chapter News, Trade & TTIP Related

International trade statistics: trends in fourth quarter 2020

Final quarter of 2020 shows continued recovery in G20 international merchandise trade | Download the entire news release (including graphs and tables PDF) 23 Feb 2021 - G20 international merchandise trade continued to rebound in the fourth quarter of 2020 (exports up 7.2% and imports up 6.8%), following the sharp falls seen in the first half of 2020, as lockdown measures affected trade globally. Although growth in the fourth quarter of 2020 was strong, it shows a reduction compared to the unprecedented expansion observed in the third...
Chapter News, Trade & TTIP Related

WTO | History is made: Ngozi Okonjo-Iweala chosen as Director-General

WTO members made history today (15 February) when the General Council agreed by consensus to select Ngozi Okonjo-Iweala of Nigeria as the organization’s seventh Director-General. When she takes office on 1 March, Dr Okonjo-Iweala will become the first woman and the first African to be chosen as Director-General. Her term, renewable, will expire on 31 August 2025. “This is a very significant moment for the WTO. On behalf of the General Council, I extend our warmest congratulations to Dr Ngozi Okonjo-Iweala on...
Chapter News, Trade & TTIP Related

EU Commission sets course for an open, sustainable and assertive EU trade policy

The European Commission has today set out its trade strategy for the coming years. Reflecting the concept of open strategic autonomy, it builds on the EU's openness to contribute to the economic recovery through support for the green and digital transformations, as well as a renewed focus on strengthening multilateralism and reforming global trade rules to ensure that they are fair and sustainable. Where necessary, the EU will take a more assertive stance in defending its interests and values,...
Chapter News, Trade & TTIP Related

OECD | Services trade restrictions increased in 2020, compounding COVID-19 economic shock

The global regulatory environment for services trade became more restrictive in 2020, with new barriers compounding the shock of the COVID-19 pandemic on exporters, according to a new OECD report. OECD Services Trade Restrictiveness Index (STRI): Policy trends up to 2021 shows an increasing pace in the erection of new barriers to services trade across all major sectors. New restrictions are affecting services traded through a range of commercial establishments, in sectors including computer services, commercial banking and broadcasting. Global...
Brexit News, Member News, Trade & TTIP Related

Ogletree | EU-UK Trade and Cooperation Agreement Provides a Grace Period for Free Flow of Personal Data

After the political and constitutional upheaval of the last four years that has been Brexit, a trade deal—the EU-UK Trade and Cooperation Agreement—was finally reached between the United Kingdom (UK) and the European Union (EU) on December 24, 2020, just days before the deadline when the UK was set to crash out of all EU treaties. Amongst the rules about how much fish a French fisherman can catch off the coast of Scotland and whether a vaccine approved in Denmark...
Member News, Trade & TTIP Related

Orrick | The Practical Implications of the EU-China Investment Deal

On December 30, 2020, the EU and China announced the conclusion of the negotiations of the investment treaty, the EU-China Comprehensive Agreement in Investments (CAI). The CAI represents a strategic opportunity for EU companies, financial institutions and funds to invest in China. This treaty contains two significant overarching commitments by China: market access and fair competition. The CAI did not appear overnight and certainly not without hard work on both sides; it took seven years and 35 rounds of...

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