Bloomberg News carried an explosive account of a November 12th meeting of the World Trade Organization Committee on Budget, Finance & Administration at which the US raised “the possibility of blocking the approval of the institution’s biennial budget and effectively halting its work starting next year.” If a budget isn’t approved by consensus of the […]
RCEP a minor trade win for China but India bows out
The weekly report of our trade correspondent, L.C. The Regional Comprehensive Economic Partnership achieved a success, of sorts, at the RCEP leaders summit in Bangkok on November 5th. Fifteen of the sixteen participating countries agreed to finalize the deal and sign it next year – but India opted out. The fifteen went out of their […]
US-China “phase one” delayed, might be “phase last”
The weekly trade report by our correspondent, L.C. The cancellation of the November 16th-17th Asia-Pacific Economic Cooperation (APEC) summit in Santiago prevented the possible signing of a “phase one” US-China trade agreement. Both Presidents Trump and Xi Jinping had been expected to attend, making a signing ceremony easy to arrange. While an agreement could validly […]
Limited US-China trade deal likely at mid-November APEC summit
Correspondent L.C.’s weekly trade report ____________________________________________ The US and China appear to be proceeding smoothly toward finalizing the recently-agreed “phase one” trade deal so that it can be endorsed by their two leaders when they meet at the November 16th-17th Asia-Pacific Economic Cooperation (APEC) summit in Chile. China also this week passed a new law […]
US wins largest penalty ever for EU’s WTO-illegal Airbus subsidies
Trade correspondent L.C.‘s weekly report: On October 2nd the US received official World Trade Organization authorization to impose almost $7.5 billion annually in retaliation against the European Union for its WTO-illegal subsidies to Airbus. This had been expected, though the amount was on the lower side of what had been anticipated. It was, nonetheless, by […]
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