Business By Andrew Walker BBC World Service economics correspondent 8 June 2018 Share this with Facebook Share this with Twitter Share this with Messenger Share this with Messenger Share this with Email Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.com/news/business-44398662 Read more about sharing. These are external links and will open in a new window Close share panel It won't be a very comfortable G7 summit. Leaders from the biggest developed economies meet in Canada at the weekend against a background of increasing tension about … [Read more...] about What lies behind the G7 trade row?
General agreement on tariffs and trade
Brussels and Ottawa claimed that US tariffs were inconsistent with WTO General Agreement on Tariffs and Trade (GATT) 1994 and the Agreement on Safeguards, the statement added. READ MORE: Analysts Explain Possible Outcome of US Tariffs Policy: 'Workers Will Lose' The request for such consultations initiates a WTO procedure for dispute settlement. On Friday, a source in the WTO told Sputnik that the organization's secretariat received a request from the European Union for consultations with the United States on the issue of new duties on the import of steel and aluminum products. © AP Photo / Pablo Martinez MonsivaisCanadian PM Rejects US Proposal for Bilateral Trade Deal as 'World Economic Order Under Attack'Those statement address a new 25-percent tariff on steel imports and a 10-percent tariff on aluminum imports, which, as Washington announced on Thursday, would be imposed on metals … [Read more...] about WTO Confirms EU, Canada Filed Requests for Consultations Over US Import Tariffs
Mexico said on Monday it will file a complaint with the World Trade Organization over US tariffs on its steel and aluminum. The economy ministry said it will "initiate a dispute settlement process under the umbrella" of the WTO, and that its actions will "continue to follow the state of international commercial law and will be proportional to the damage that Mexico regrettably received." Both the European Union and Canada have already opened legal challenges to the United States at the WTO, the Geneva-based arbitrator of international trade disputes that is loathed by President Donald Trump who on Friday imposed duties of 25 percent for steel and 10 percent for aluminum against his allies. Mexico submits that the tariffs, imposed on the grounds of national security, were not adopted in accordance with relevant WTO procedures and also violate the 1994 General Agreement on Tariffs and Trade. Immediately following the move by Trump, Mexico said it would impose retaliatory duties on a … [Read more...] about Mexico to file WTO complaint over US tariffs: ministry
unfree trade A leading German think tank says Donald Trump is right that tariffs between the United States and Europe are asymmetrical, but urges negotiations to lower import taxes across the board. Published on March 15, 2018 6:46 pm US President Donald Trump may actually have a point when it comes to unfair taxes on US goods coming into Europe. That is the finding of a new study by a leading German think tank. Where they differ is how to deal with it: The group urges new talks to lower tariffs across the board, instead of engaging in a tit-for-tat escalation in new taxes. “The EU is by no means the paradise for free traders that it likes to think,” said Gabriel Felbermayr, director of the ifo Center for International Economics, a division of the Munich-based ifo Institute. The European Union actually comes off as the bigger offender when compared to the US, he added. The unweighted average EU customs duty is 5.2 percent, versus the US rate of 3.5 percent, … [Read more...] about Trump may have a point about EU tariffs, ifo says
Business 1 May 2018 Share this with Facebook Share this with Twitter Share this with Messenger Share this with Messenger Share this with Email Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.com/news/business-43958216 Read more about sharing. These are external links and will open in a new window Close share panel US President Donald Trump's administration has extended negotiations on steel and aluminium tariffs for 30 days with Canada, the EU and Mexico. It has also reached a deal in principle with Argentina, Brazil and Australia.In March, … [Read more...] about Trump delays decision on steel tariffs