The European Union and Vietnam on Sunday signed a long-awaited free trade deal that will slash duties on almost all goods, an agreement that pushes back against a rising tide of global protectionism and hailed as a "milestone" by Brussels. The signing comes amid worldwide trade turmoil, with a dragging US-China row and Britain's impending exit from the European Union casting a dark cloud over global growth. It follows years of tough negotiations marred by Vietnam's tarnished human rights record. EU trade commissioner Cecilia Malmstrom called the deal "an important milestone" and a key step towards better co-operation with Southeast Asian economies. "This is the most ambitious trade agreement that EU has signed with a developing country," she told reporters after the landmark deal was inked in Hanoi on Sunday in front of dozens of negotiators and diplomats. The EU-Vietnam free trade pact will eventually see duties slashed on 99 percent of Europe's imports from Vietnam. Billed as a … [Read more...] about Vietnam and EU sign ‘milestone’ free trade agreement
Free trade agreement with china
The European Union and Vietnam on Sunday signed a long-awaited free trade deal that will slash duties on almost all goods as fears grow over mounting global protectionism. The signing comes amid worldwide trade turmoil, with a dragging US-China row and Britain's impending exit from the European Union casting a dark cloud over global growth. The deal was hailed by EU trade commissioner Cecilia Malmstrom as "an important milestone" between the trading partners. "We want to make sure that EU trade in this region has a positive impact so we have enshrined high standards in the deal," she said at the signing ceremony Sunday. The deal will come into force only once it is ratified, which could come by the end of the year. It comes on the heels of a landmark agreement on Friday between the EU and South American trade bloc Mercosur that will link 800 million people in what will be one the world's largest regional commercial accords. Vietnam's export-led economy has largely been buoyed by … [Read more...] about Vietnam and EU sign free trade agreement
BRUSSELS (Reuters) - Donald Trump promised Britain on Tuesday a “very, very substantial” post-Brexit trade deal with the United States. British Prime Minister Theresa May and U.S. President Donald Trump attend a joint news conference at the Foreign & Commonwealth Office, in London, Britain June 4, 2019. Stefan Rousseau/Pool via REUTERS Brexit supporters have said rapidly agreed trade accords with the United States and other countries will make a prosperous “Global Britain” outside the European Union. Both Britain and the United States would need to determine the scope of negotiations, but past experience of Washington’s dealings with other would-be trade partners shows what it is likely to seek and the limits on what it would offer. BRITAIN’S NATIONAL HEALTH SERVICE (NHS) The U.S. ambassador’s comment that Britain’s NHS should be “on the table” in a trade deal caused an uproar in Britain. There are two areas … [Read more...] about Factbox: How free would a UK-U.S. trade agreement be?
US President Donald Trump says he is in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators began a second day of last-ditch talks to try to salvage an agreement. The United States early on Friday increased its tariffs on US$200 billion in Chinese goods to 25 percent from 10 percent, rattling financial markets already worried the 10-month trade war between the world's two largest economies could spiral out of control. The move, which is expected to lead to Chinese retaliation, went into effect just hours before US trade representative Robert Lighthizer, US Treasury secretary Steven Mnuchin and Chinese Vice Premier Liu He started a second day of talks in Washington. Liu was seen leaving the US trade representative's office near midday and it was not immediately clear if that signalled an end to the current round of negotiations. Donald Trump boasts about 'beautiful letter' from Chinese President Xi Jinping Trump pleased … [Read more...] about China tariffs will make US richer than free trade
The sliver of land that follows the Gambia River into the Atlantic Ocean and cuts through the heart of Senegal was an unlikely setting for one of the most important steps in Africa’s free-trade revolution. Gambia, the smallest country in mainland Africa with a population less than Greater Manchester, became the crucial 22nd country to ratify the African Continental Free Trade Agreement earlier this month, helping the deal reach the minimum threshold for the area to be implemented. In a world where protectionism and tariffs are being used as economic weapons by the US, EU and China, Africa is making decisive steps to liberalise trade and open up its markets. The ambitious plan aims to double intra-Africa... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for … [Read more...] about As the world moves towards protectionism, Africa could be on the brink of a free trade boom