Buenos Aires, November 29 - Premier Giuseppe Conte told the G20 Thursday that global trade rules had to be revised and the World TRade Organization reformed. "We need a global reflection on trade, a revision of its rules and a renewal of the mechanisms of the workings of the World Trade Organisation, to ensure the creation of a real level playing field," he said. This would mean that those "who benefit from free trade also respect the rules on which it is based, including the principle of safeguarding intellectual property, to guarantee innovation. "The alternative is to give way to protectionist pressures". … [Read more...] about Revise trade rules and reform WTO
Wto trade rules
The leader of Papua New Guinea, host of this year's APEC summit, Friday urged respect for international trade rules by "countries large and small" as spats between the US and China threatened to overshadow the gathering. As leaders from Asian Pacific nations prepared to fly in to Port Moresby for their annual meeting, Prime Minister Peter O'Neill appeared to call his guests to order on damaging trade rows. "Smaller economies, countries like Papua New Guinea, place considerable reliance on international trade and especially the international trade rules," stressed O'Neill. "We suffer when rules are broken or ignored and we benefit when rules are followed by all countries, large and small," he added. The world's top two economies have been engaged in a spiralling trade conflict that economists have warned could be catastrophic for the global economy. Washington and Beijing have slapped tit-for-tat tariffs worth billions of dollars on each other's goods and both sides have threatened to … [Read more...] about APEC summit host urges respect for trade rules
A U.S. decision to subsidize its renewable energy companies and impose tariffs on imported products has seriously distorted the global market and harmed China’s interests, China’s Ministry of Commerce said late on Tuesday, Reuters reported. Washington announced in January that it was imposing what it called safeguard tariffs over four years - a 30 percent tariff in the first year which would be reduced gradually to 15 percent in the fourth year. China has lodged a complaint to the World Trade Organisation to help determine the legality of the U.S. policies, saying they not only harm China's rights but also undermine the WTO's authority, the ministry said on its website. “As the U.S. violations have severely distorted the global market for products like photovoltaics and seriously damaged China’s trade interests, China’s use of the WTO dispute settlement mechanism is a necessary measure to safeguard its legitimate rights and interests and maintain … [Read more...] about China says U.S. solar tariffs violate trade rules, lodges WTO complaint
UK By Chris Morris Reality Check correspondent, BBC News 11 August 2018 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter 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/uk-45112872 Read more about sharing. These are external links and will open in a new window Close share panel Related TopicsReality Check The Foreign Secretary, Jeremy Hunt, says the chances of a "no … [Read more...] about Reality Check: What does a ‘WTO Brexit’ mean?
Airbus has said it will comply with a World Trade Organisation ruling over state aid it received to help design and build airliners, while bitter rival Boeing warned the US could seek retaliation. The pan-European aerospace company, along with the UK, France, Germany and Spain, has agreed to “amendments” on so-called “reimbursable launch investment”. Last week the WTO ruled that these payments - used to fund work and facilities for new airliners - were banned in a final judgment on a 14-year case brought by the US on behalf of Boeing. The global trade body said that the subsidy, which Airbus pays back as a percentage of the price of each airliner it sells, was banned under international rules.... 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 … [Read more...] about Airbus submits to WTO subsidy ruling as Boeing warns of penalties