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Trade News
Trade News
25
Apr
Prepared by Vanessa Gunnella and Lucia Quaglietti
Published as part of the ECB Economic Bulletin, Issue 3/2019.
The risk of a trade war came sharply into focus in 2018, as protectionist threats by the US Administration and its trading partners were followed by concrete actions. Tensions rose over the summer and, while these have been defused on some fronts, the risk of further escalation remains material. The impact of the measures implemented so far on the global and euro area economic outlooks...
19
Apr
The European Commission welcomes today's decision by the Council to adopt the negotiating directives for trade talks with the United States, thus continuing to deliver on the implementation of the Joint Statement agreed by Presidents Juncker and Trump in July 2018.
European Union Member States gave the Commission the green light to start formal negotiations with the U.S. on two agreements, one on conformity assessment, and the other on eliminating tariffs on industrial products. This is just three months after...
18
Apr
New figures released by the European Commission today, show that imports of U.S. soya beans by the European Union increased by 121% over the current market year (July 2018 to mid-April 2019), compared to the same period in the previous year.
With a share of 72% of EU soya beans imports, the U.S. is today Europe's number one supplier. Conversely, Europe is the top destination of U.S. soya beans exports with 22%, followed by China (18%) and Mexico (9%).
Increasing trade...
11
Apr
By Thompson Hine International Trade on April 11, 2019
A World Trade Organization (WTO) dispute settlement panel ruling, Russia – Measures Concerning Traffic in Transit, issued last week on a member’s use of the WTO’s so-called “national security exception” under Article XXI of the General Agreement on Tariffs and Trade (GATT) may have a significant impact on the Trump administration’s application of that exception under U.S. law, Section 232 of the Trade Expansion Act of 1962, to impose tariffs on imports worldwide.
Currently, the Trump...
10
Apr
The USTR issued a press release late yesterday regarding the potential imposition of additional tariffs on certain products from the European Union.
The additional tariffs would be imposed pursuant to Section 301 of the Trade Act of 1974 and would affect approximately $11 Billion in goods. The USTR states that the tariffs are being contemplated in response to subsidies that the EU has provided to European aircraft manufacturer Airbus. The tariffs are split between two “Annexes”: one annex covering...
10
Apr
By Ana Swanson | April 9, 2019
The United States and the European Union are preparing to impose tit-for-tat tariffs on each other’s products, the latest escalation in a 14-year fight over government aid given to Boeing and European rival Airbus.
“The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs on $11 Billion of E.U. products!” President Trump said in a tweet on Tuesday morning. “The E.U....
14
Mar
By TH International Trade
The Office of the U.S. Trade Representative (USTR) has released President Donald Trump’s 2019 Trade Policy Agenda and 2018 Annual Report, detailing how the Trump administration’s trade policies “are benefitting American workers and contributing to the strongest economy in decades.” Claiming that the Trump administration “inherited a significantly flawed trading system,” the report states that the administration “took immediate and decisive action to implement a new trade agenda.”
The USTR indicated that it “and other parts of the Administration...
04
Mar
By Ronald A Oleynik | Jonathan M Epstein | Antonia I Tzinova | Daniel L Burkard | Hwajeong Kim
HIGHLIGHTS:
The U.S. Trade Representative (USTR), pursuant to Section 131 of the Trade Act of 1974, has requested the U.S. International Trade Commission (Commission) to obtain public comment pertaining to the possibility of a duty-free trade agreement with the United Kingdom covering a range of agricultural products.
As a result of the U.S. federal government shutdown that lasted from Dec. 22, 2018, until...
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