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Prime Minister Julia Gillard has announced a new trade policy for Australia, which will demand significant economic reform. Provisions include the abandonment of “low-quality” bilateral trade deals in favour of comprehensive multilateral free trade agreements.
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World Trade Organisation director-general Pascal Lamy says the Doha Round is about 80 percent there, referring to the global trade liberalisation deal currently stalled but “technically doable”. Lamy indicated the final 20 percent would be about ironing out differences in agriculture and making trade between rich and poor nations fair and equitable. “That probably has [...]
...read moreConclusion of the Doha Round of trade negotiations was a hot topic at this week’s World Trade Organisation (WTO) Ministerial Conference in Geneva, Switzerland, the first full Ministerial meeting in four years. Minister for Trade Simon Crean said he was keen to see the Doha Round progress in 2010 and marked the conference as a [...]
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Cheap Chinese exports stemming from the Chinese government’s stimulus measures may face a global retaliation next year as supply outstrips demand, according to a recently released report by the European Chamber of Commerce in China. The report warns that the blind expansion of industries such as steel, cement and plastics will exacerbate manufacturing overcapacity and [...]
...read moreInternet censorship could be a form of trade restriction because it denies access to some online services, according to a study by the European Centre for International Political Economy (ECIPE). The study suggests internet censorship could therefore be subject to challenge at the World Trade Organisation (WTO), raising issues over sovereignty. WTO member states are [...]
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China and the USA have concluded trade talks over a number of commercial disputes that have threatened to sour their bilateral relationship before US President Barack Obama’s visit to China scheduled for November 15. US Commerce Secretary Gary Locke called the recent US-China Joint Commission on Commerce and Trade “productive” and said it “builds a [...]
...read moreMinister for Trade Simon Crean last week met with United States Trade Representative Ambassador Ron Kirk in Washington DC for their annual Australia-United States Ministerial Trade Talks (AUSMINTT). It was the first time Australia has had talks with a representative from the Obama administration. Both Crean and Kirk agreed that Australia and the US could [...]
...read moreEuropean Union Trade Commissioner Catherine Ashton has recommended that penalty taxes on Chinese and Vietnamese shoe imports into Europe be extended by 15 months. Since October 2006, the EU has applied the penalties in response to dumping, in effect acting as fines for China and Vietnam exporting goods below production cost. However, the European Footwear [...]
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The USA will consider implementing 100 percent tariffs on Chinese steel pipes to discourage dumping, a move that could spark a protectionist trade war with the Asian giant. The US alleges that the pipes were backed by unfair subsidies. Dumping, the practice of selling product at a price less than its value to edge out [...]
...read moreThe Nigerian government will lift prohibitions on the importation of 40 items, initially in place as a protectionist measure to assist the competitiveness of local manufacturers. President Yar Adau implied that their World Trade Organisation (WTO) connection was behind the move. “We must realise the fact that as WTO member we are a signatory to [...]
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