Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Trade Organization"


25 mentions found


British PM Johnson to speak to EU chief as Brexit talks stall
  + stars: | 2020-12-05 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
LONDON (Reuters) - British Prime Minister Boris Johnson will speak to European Commission President Ursula von der Leyen on Saturday to try to break an impasse in trade talks with time running out before Britain completes its departure from the bloc. Slideshow ( 2 images )British and EU negotiators paused trade talks on Friday to call in their leaders to try to narrow gaps and get an agreement after a week of negotiations failed to bridge “significant divergences” between the two sides. Sources from both sides said the deadlock was centred on French demands over fishing rights in British waters. If the two sides fail to reach a deal, the five-year Brexit divorce will end messily just as Britain and Europe grapple with the vast economic cost of the COVID-19 outbreak. In the absence of a trade deal, the United Kingdom would trade with the EU on World Trade Organization terms, which would lead to new tariffs and potentially significant price rises for some goods.
Persons: Boris Johnson, Ursula von der Leyen, Michel Barnier Organizations: British, Britain, EU, World Trade Organization Locations: EU, London, Brussels, Britain, Europe, United Kingdom
LONDON/BRUSSELS (Reuters) - British Prime Minister Boris Johnson will speak to European Commission President Ursula von der Leyen on Saturday to try to break an impasse in trade talks with time running out to avoid a chaotic end to the Brexit saga. Johnson was expected to speak to Barnier’s UK counterpart David Frost and other officials on Saturday morning, ahead of the von der Leyen call. Britain says the EU must respect its sovereignty because the 2016 Brexit referendum result was a vote to “take back control”. But the EU says Britain’s proximity to the bloc means it cannot offer the “Canada-style” free trade deal that Johnson had been seeking. In the absence of a trade deal, the United Kingdom would trade with the EU on World Trade Organization terms, which would lead to new tariffs and potentially significant price rises for some goods.
Persons: Boris Johnson, Ursula von der Leyen, Johnson, von der, Michel Barnier, David Frost, Emmanuel Macron, “ It’s, Organizations: British, European Union, EU, Brussels, World Trade Organization Locations: BRUSSELS, Britain, Europe, British, EU, London, Canada, United Kingdom
Boeing gets 737 MAX order boost from Ryanair: sources
  + stars: | 2020-12-02 | by ( Tim Hepher | Conor Humphries | ) www.reuters.com + 0.00   time to read: +3 min
PARIS (Reuters) - Budget giant Ryanair is set to place a hefty order for up to 75 additional Boeing 737 MAX jets, throwing a commercial lifeline to the embattled U.S. planemaker after regulators lifted a 20-month safety ban, industry sources said. FILE PHOTO: Ryanair planes are seen at Dublin Airport, following the outbreak of the coronavirus disease (COVID-19), Dublin, Ireland, May 1, 2020. Alaska Airlines last month agreed to lease 13 Boeing MAX jets. Ryanair’s order may, however, be overshadowed by new European Union tariffs on Boeing jets, bringing a long-running trade row to a head in the midst of the U.S. electoral transition. Ryanair, meanwhile, has said it expects Boeing to absorb the cost of the 15% European tariffs on planes already ordered.
Persons: Jason Cairnduff, Michael Kelly Organizations: PARIS, Budget, Ryanair, Boeing, Dublin Airport, REUTERS, Regulators, Aviation, Alaska Airlines, Boeing MAX, U.S, EU, World Trade Organization, Airbus, American Airlines Locations: U.S, Dublin, Ireland, planemaker, Indonesia, Ethiopia, United States, Southwest, Delta
BRUSSELS (Reuters) - The European Union and the United States should resolve their trade disputes after U.S. President-elect Joe Biden takes office in January in a “new transatlantic agenda”, the EU executive said on Wednesday, laying out its wish-list for better ties. European Union foreign policy chief Josep Borell speaks during a news conference in Brussels, Belgium, December 2, 2020. The United States and the EU “must work closely together on solving bilateral trade irritants”, the European Commission said in a proposal to EU governments, noting that EU-U.S. commerce accounts for a third of world trade. The two sides also have differing views on the value of the World Trade Organization (WTO) and its system of settling disputes, which Washington has paralysed by blocking the appointment of judges. Under Trump, the United States rejected proposals put forward by the EU and others to resolve a crisis at the WTO’s Appellate Body, effectively the supreme court of worldwide trade.
Persons: Joe Biden, Josep Borell, Johanna Geron, Donald Trump’s “, Biden, Josep Borrell, Ursula von der Leyen Organizations: European Union, REUTERS, EU, European Commission, NATO, Biden, World Trade Organization, Trump Locations: BRUSSELS, United States, Brussels, Belgium, Washington, EU
BRUSSELS (Reuters) - The European Union and the United States should resolve their trade disputes after U.S. President-elect Joe Biden takes office in January in a “new transatlantic agenda”, the EU executive said on Wednesday, laying out its wish-list for better ties. European Union foreign policy chief Josep Borell speaks during a news conference in Brussels, Belgium, December 2, 2020. The United States and the EU “must work closely together on solving bilateral trade irritants”, the European Commission said in a proposal to EU governments, noting that EU-U.S. commerce accounts for a third of world trade. The European Union is awaiting a ruling from the WTO on its challenge to U.S. tariffs on steel and aluminium. Both the EU and the United States have imposed tariffs in a dispute over aircraft subsidies.
Persons: Joe Biden, Josep Borell, Johanna Geron, Donald Trump’s “, Biden, Josep Borrell, ” Borrell, Borrell, Ursula von der Leyen Organizations: European Union, REUTERS, EU, European Commission, World Trade Organization, European, WTO, NATO, Biden Locations: BRUSSELS, United States, Brussels, Belgium, Washington, EU
Actions Trump has taken against China include slapping elevated tariffs on Chinese goods and restricting access to the American market for some Chinese companies. Here are Yellen's previous comments on trade and China. The president often made his tariff moves unilaterally, bypassing international bodies such as the World Trade Organization. If you look at her history, she has been more moderate on China issues than most folks in the Trump administration. U.S. tariffs on ChinaWhile recognizing U.S. concerns about China, Yellen appeared skeptical that the use of tariffs would help the U.S. achieve its goals.
Persons: Janet Yellen, Joe Biden, , Donald Trump, Trump, Yellen, Clete Willems, CNBC's, Biden, Willems, Akin Gump Strauss Hauer, Feld, — Yellen, we've, China Yellen Organizations: U.S . Federal, Getty, Federal, Senate, White House, Trump, European Union, World Trade Organization, Credit Suisse, Asian Financial, CNN, Bank Locations: China . U.S, China, Beijing, Canada, Europe, Hong Kong, U.S, . U.S
EU proposes a plan to revive U.S. ties and work with Biden
  + stars: | 2020-12-02 | by ( Silvia Amaro | ) www.cnbc.com + 0.00   time to read: +4 min
It's been a tense four years of transatlantic ties, with President Donald Trump and the EU clashing over trade, defense, technology and foreign relations — to name a few points of contention. "We are taking the initiative to design a new transatlantic agenda fit for today's global landscape," European Commission President Ursula von der Leyen said in a statement on Wednesday. In a document entitled "A new EU-U.S. agenda for global change," the European Commission, the executive arm of the EU, defined four major policy areas to focus on. The EU also said Wednesday that it wanted to "work together to lead WTO (World Trade Organization) reform efforts and solve bilateral trade irritants through negotiated solutions." So, the EU believes that going forward they need to "work to reinforce and reform the World Health Organization."
Persons: Joe Biden, Barack Obama, King Salman bin Abd alAziz, Olivier Douliery, It's, Donald Trump, Ursula von der Leyen, Trump Organizations: White, European Union, U.S, EU, European Commission, Tech, Trump, Big Tech, Organization for Economic Cooperation, Development, Commission, Huawei, 5G, WTO, World Trade Organization, World Health Organization Locations: Saudi Arabia, Washington ,, EU, U.S, United States
Delegates gloomy as final fish talks open at WTO
  + stars: | 2020-12-01 | by ( Emma Farge | ) www.reuters.com + 0.00   time to read: +2 min
GENEVA (Reuters) - A final round of negotiations at the World Trade Organization on cutting fisheries subsidies opened on Tuesday with some delegates seeing little hope for a deal by a 2020 deadline despite intensifying negotiations. FILE PHOTO: A delegate arrives before a meeting at the World Trade Organization (WTO) in Geneva, Switzerland, October 28, 2020. Switzerland’s ambassador Didier Chambovey, who is facilitating talks, told members last week that positions on potential exemptions for developing countries were “entrenched”. However, the draft text issued in November seen by Reuters still showed 51 pairs of square brackets -- indicating areas of non-agreement. An ambitious deal could lead to a 12.5 percent increase in global fish biomass by 2050, the Pew Charitable Trust said, based on a model it has shared with WTO negotiators.
Persons: Denis Balibouse, , , Didier Chambovey, Santiago Wills, Prince Charles, Brazil’s Roberto Azevedo Organizations: World Trade Organization, REUTERS, Geneva, Reuters, Pew Charitable Trust, WTO, Washington Locations: GENEVA, Geneva, Switzerland, , India, China, EU, United States, South Korea, Japan
Time for 'cooling' in Australia-China tensions, says former trade minister
  + stars: | 2020-12-01 | by ( ) www.cnbc.com sentiment -0.74   time to read: 1 min
Time for 'cooling' in Australia-China tensions, says former trade ministerAustralia and China should also go through the World Trade Organization to resolve their disputes objectively, says Craig Emerson, managing director of Emerson Economics and former Australian trade minister.
Persons: Craig Emerson Organizations: World Trade Organization, Emerson Economics Locations: Australia, China
Long Wei | VCG | Getty ImagesSINGAPORE — Small exporters, grape growers and regional communities are going to feel the brunt of China's decision to impose steep tariffs on Australian wine. That's according to Tony Battaglene, chief executive of Australian Grape and Wine, the national association of grape and wine producers. He explained that larger Australian wine exporters who have diversified portfolios would likely be able to cope with China's decision even though they, too, would feel the pain. It accounted for 39% of total exports for the 12 months ending September 2020, according to Wine Australia. On Friday, Australia's agriculture minister David Littleproud tweeted that the Canberra government is "extremely disappointed" in China's decision to impose preliminary tariffs on Australian wine.
Persons: Long Wei, Tony Battaglene, Battaglene, That's, Beijing's, Simon Birmingham, what's, David Littleproud, Littleproud Organizations: Getty, SINGAPORE —, Wine, Monday, World Trade Organization, OECD, Australia, Down Locations: Australia, Hangzhou, Zhejiang Province, China, Long, SINGAPORE, Wine Australia, Canberra, Beijing
The move shows a star of Australian consumer exports to China rewriting its strategy almost overnight as a 5-year-old free trade agreement between the countries — which had eliminated wine tariffs — gives way to strained diplomatic relations. Australia's Treasury Wine Estates said on Monday it would divert hundreds of thousands of cases of China-bound wine to other countries to avoid hefty tariffs, battering its shares as it acknowledged its future in its biggest market was unclear. A quarter of the company's upper-range Penfolds wine would be affected by the about-face, added the company, which makes about a third of its profit in China. Treasury shares fell as much as 12% in early trade on Monday, against a slightly weaker broader market. Ford said in a statement that Treasury would cooperate with the China investigation but "we call for strong leadership from governments to find a pathway forward."
Persons: Australia's, Julia Gillard, Tim Ford, Ford, David Errington, Errington, Simon Birmingham Organizations: of, Wine Estates, Treasury, China, TWE, of America, Ford, World Trade Organization, Trade, Canberra, Beijing Locations: Beijing, China, U.S, Europe, Asia, Shanghai, South America
Australia Threatens WTO Action Against China as Trade Row Intensifies
  + stars: | 2020-11-29 | by ( David Winning | ) www.wsj.com sentiment -1.00   time to read: 1 min
SYDNEY—Australia is preparing to take action against China at the World Trade Organization over tariffs on barley imports, the latest salvo in a trade dispute that has disrupted the supply of commodities from coal to wine. China in May placed tariffs of 80.5% on Australian barley—commonly used for beer brewing—saying it was being sold at unfairly low prices with the help of subsidies. Australia rejected that finding and directly appealed to Chinese authorities to reverse the duties, but was rebuffed.
Organizations: SYDNEY —, China, World Trade Organization, Australia Locations: SYDNEY — Australia, China
Swiss voters on Sunday rejected sweeping responsible business standards that would have held multinational companies liable for their conduct abroad, reports Swissinfo. The Responsible Business Initiative would have amended the constitution, adding penalties for Swiss-based companies committing human rights abuses abroad. Switzerland on Sunday reportedly rejected sweeping responsible business standards, which would have held multinational companies liable for their conduct abroad, despite a razor-thin majority of citizens voting in favor. The Responsible Business Initiative would have amended the constitution to increase penalties for Swiss-based companies committing environmental or human rights abuses elsewhere, according to reports from Agence France Presse and AP. About 50.7% of the population approved, while 49.3% rejected the measure, according to public voting data.
Persons: Peter Ungphakorn, Florian Wettstein, Ernst & Young Organizations: Sunday, Initiative, Swiss, Agence France Presse, AP, Swiss Broadcasting Corporation, World Trade Organization, Twitter, University of St, Agence France Press, Ernst & Locations: Swiss, Switzerland, Geneva, University of St Gallen
GENEVA (Reuters) - Ten COVID-19 vaccines could be available by the middle of next year if they win regulatory approval, but their inventors need patent protection, the head of the global pharmaceutical industry group said on Friday. Syringes are seen in front of displayed Biontech and Pfizer logos in this illustration taken November 10, 2020. “We will hopefully by the next summer have probably 10 vaccines which have proven their value. Cueni said that IFPMA archives showed there had never been a compulsory license granted for a vaccine and pointed to the difficult technology and know-how. Nearly every member company had committed to “not-for-profit” or socially responsible pricing during the pandemic, he added.
Persons: Dado Ruvic, Thomas Cueni, Johnson, , Cueni, Organizations: Pfizer, REUTERS, BioNtech, Moderna, AstraZeneca, International Federation of Pharmaceutical Manufacturers, Johnson, Sanofi Pasteur, GSK, Merck, Pharma, , World Trade Organization, European Locations: GENEVA, Sanofi, Geneva, India, South Africa, United States, European Union, Switzerland
China to impose temporary anti-dumping measures on Australian wine imports
  + stars: | 2020-11-27 | by ( ) www.cnbc.com + 0.00   time to read: +3 min
Australia has responded defiantly to China imposing anti-dumping tariffs on Australian wine, saying the "seriously concerning development" looks to be about diplomatic grievances and not any action by winemakers. China will impose temporary anti-dumping tariffs of 107.1% to 212.1% on wine imported from Australia from Nov. 28, the Chinese Ministry of Commerce said on Friday. Australia's trade minister Simon Birmingham said the tariffs were unjustifiable and it was a distressing time for hundreds of wine producers because it "will render unviable for many businesses, their wine trade with China." An importer of Australian wine in Shanghai told Reuters: "I will stop importing Australian wines for at least 3 months to see how things go. For Australian wines that are not named on the list, the rate is 212.1%.
Persons: Australia's, Julia Gillard, Simon Birmingham, David Littleproud Organizations: of, Chinese Ministry of Commerce, Alcoholic Drinks Association, World Trade Organization, Treasury Wine, Wine Estates, Reuters Locations: Beijing, China, Australia, Canberra, Birmingham, Shanghai
China is more concerned by Biden than Trump, economist Jim O'Neill says
  + stars: | 2020-11-27 | by ( Silvia Amaro | ) www.cnbc.com sentiment -0.99   time to read: +2 min
LONDON — Joe Biden's presidency will be a bigger problem for the Chinese government than the four years of the Donald Trump administration, economist Jim O'Neill told CNBC's "Squawk Box Europe" on Friday. Trump took a different approach to U.S.-China relations by unilaterally imposing tariffs on Beijing. "It is my impression that the Chinese are more concerned by a Biden administration than a Trump administration," said O'Neill, a former chief economist at Goldman Sachs and now the chair of U.K. think tank Chatham House, suggesting that the Biden team has "stronger philosophical beliefs" on key issues. However, the U.S.'s climate ambitions changed with Trump, and that pressure on China to step up its efforts on emissions cooled somewhat. "In a strange way it might be already forcing China to think a little bit differently," O'Neill said about the impact of the U.S. election on China.
Persons: Joe Biden's, Donald Trump, Jim O'Neill, CNBC's, Trump, Biden, O'Neill, Goldman Sachs, Xi Jinping, Xi, Organizations: Twitter, World Trade Organization, World Bank, Trump, U.S Locations: China, Beijing, Washington, U.S
SINGAPORE — China has accused India of discriminatory practices that violate World Trade Organization rules after New Delhi banned another 43 Chinese mobile apps. New Delhi issued an order on Tuesday to block those apps, claiming they engaged in activities that threatened India's national security. "This action was taken based on the inputs regarding these apps for engaging in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order," India's information technology ministry said. The affected apps include short-video streaming app Snack Video, which has reportedly dominated the charts in terms of downloads in recent months. Other banned apps include Alibaba's e-commerce platform AliExpress, streaming app Taobao Live and workplace messaging app DingTalk, as well as delivery app Lalamove India and a handful of dating sites.
Persons: Xi Jinping, Narendra Modi Organizations: Indian, Shanghai Cooperation Organization, World Trade Organization, Coordination Center, Ministry of Home Affairs, Tencent Locations: SINGAPORE — China, India, Delhi
Failure to get Brexit trade deal would wipe extra 2% off UK output: OBR
  + stars: | 2020-11-25 | by ( Kate Holton | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: Euro and pound banknotes are seen in front of BREXIT letters in this picture illustration taken April 28, 2017. REUTERS/Dado Ruvic/IllustrationLONDON (Reuters) - Failure by Britain and the European Union to agree a free trade deal would wipe an extra 2% off the United Kingdom’s economic output while driving up inflation, unemployment and public borrowing, official forecasts showed on Wednesday. The independent body had already forecast Brexit would cost Britain 4% of GDP in the long run even if Britain secures a free trade agreement with the EU, compared to it staying in the bloc. “This (no deal) would further reduce output by 2% initially and 1.5% at the forecast horizon,” it said. “The imposition of tariffs on EU imports, higher non-tariff barriers, and a drop in the exchange rate all raise consumer prices, leaving them 1.5% higher by the forecast horizon than in our central forecast,” the OBR said.
Persons: Dado Ruvic, OBR Organizations: REUTERS, Britain, European Union, United, World Trade Organization Locations: Britain
WASHINGTON (Reuters) - As President-elect Joe Biden builds his economic team in the coming days, some influential lawmakers are urging him to choose Katherine Tai, the Democratic trade counsel on the House of Representatives’ Ways and Means Committee, as U.S. trade representative. The job, sometimes called the “trade czar,” is expected to be a lynchpin position as Biden pledges to reverse predecessor Donald Trump’s “America First” policies, build jobs at home, and punish Beijing for anti-competitive trade practices. A Yale and Harvard-educated Chinese-American who speaks fluent Mandarin and taught university English for two years in Guangzhou, Tai also headed China trade enforcement at the U.S. Trade Representative’s office (USTR) from 2011 to 2014, litigating trade violation cases before the World Trade Organization. Tai, 45, did not respond to a request for comment and a spokeswoman for the House Ways and Means Committee said she was not granting interviews at this time. Tai faces stiff competition for the USTR post from Michael Wessel, a member of the U.S.-China Economic and Security Review Commission, and Representative Jimmy Gomez, a Ways and Means Committee Democrat from California.
Persons: Joe Biden, Katherine Tai, , Biden, Donald Trump’s “, Tai, Trump, “ Katherine Tai, Sherrod Brown, , ” Brown, Earl Blumenauer, Reuters Tai, Robert Lighthizer, China ”, ” Tai, Michael Wessel, Jimmy Gomez, Don Beyer, Nancy Pelosi Organizations: WASHINGTON, Democratic, Yale, Harvard, U.S . Trade, World Trade Organization, USTR, Democrat, Finance, Reuters, Capitol, Biden, , Center, American Progress, U.S ., China Economic, Security, Commission Locations: Beijing, U.S, Mexico, Canada, Guangzhou, Tai, China, CHINA, United States, California
EU seeks fast-track bypassing of pharma patents in emergencies
  + stars: | 2020-11-25 | by ( Francesco Guarascio | ) www.reuters.com sentiment -1.00   time to read: +2 min
The EU flag is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. The measure, if ever applied, would effectively allow EU states to produce generic drugs without the consent of the pharmaceutical companies that developed them and still own the intellectual property rights. Ironically, the proposal is part of an EU action plan on intellectual property that is mostly aimed at strengthening the protection of EU companies’ patents against foreign actors. The EU executive has so far refused to invoke the waiver and has struck multibillion-euro deals with drugmakers to secure COVID-19 shots and therapeutics. However, the COVID-19 emergency has led to a reconsideration of existing procedures, which largely fall under the remit of national governments in the EU.
Persons: Dado Ruvic, drugmakers Organizations: European Union, EU, REUTERS, World Trade Organization Locations: BRUSSELS, EU
BRUSSELS (Reuters) - The European Union is planning tough measures to boost its access to drugs, from sidestepping patents rights in emergencies to taking production to Europe, according to EU documents published on Wednesday. The EU flag is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. The European Union Commission wants faster procedures during crises to produce generic versions of drugs in EU states without the consent of patent holders, an EU document says. However, the COVID-19 emergency has led to a reconsideration of existing procedures, which largely fall under the remit of national governments in the EU. The possible measures are part of a wider EU strategy published on Wednesday.
Persons: Dado Ruvic, drugmakers Organizations: European, EU, REUTERS, European Union Commission, World Trade Organization, Reuters Locations: BRUSSELS, Europe, EU
EU seeks to bypass patents to boost drugs access in crises
  + stars: | 2020-11-25 | by ( Francesco Guarascio | ) www.reuters.com + 0.00   time to read: +5 min
The EU flag is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. The European Commission wants faster procedures during crises to produce generic versions of drugs in EU states without the consent of patent holders, an EU document says. So-called compulsory licensing is allowed under World Trade Organization (WTO) rules in emergencies as a waiver of normal regulations and could be applied during the COVID-19 pandemic. Ironically, the proposal is part of an EU action plan on intellectual property that is mostly aimed at strengthening the protection of EU companies’ patents against foreign actors. The move differs from proposals from South Africa and India to pre-emptively waive WTO intellectual property rules during the pandemic - proposals the EU has said are too drastic.
Persons: Dado Ruvic, ” EFPIA, Gilead, drugmakers, Margaritis Schinas Organizations: European, EU, REUTERS, European Commission, World Trade Organization, COVID, emptively, Reuters Locations: BRUSSELS, Europe, EU, United States, South Africa, India, China
A Biden transition team official said Wednesday that the president-elect will name nominees for key economic positions on Dec. 2. Biden chose Yellen, who in 2014 made history as the first woman to lead the Fed, as his Treasury secretary, people familiar with the transition team confirmed Monday. If confirmed, Yellen would also be the nation's first woman to serve as Treasury secretary. Advisory councilsAside from picking a trade representative, Biden and his transition team will need to staff two advisory bodies: the National Economic Council and the Council of Economic Advisers. It's considered the "war room" for economic policy and seeks to sync priorities across the government.
Persons: Joe Biden, Bastiaan Slabbers, Janet Yellen, Robert Lighthizer, Kevin Hassett, Kathy Kraninger, Donald Trump's, Judy Shelton, Jerome Powell's, Biden, Yellen, Biden's, Raymond James, Ed Mills, Nathan Sheets, Obama, USTR, Sheets, Liu, Mark Schiefelbein, Antony Blinken, Blinken, Tony Blinken, Susan Rice, John Kerry, Barack Obama, Nuri al, Jonathan Ernst, Lighthizer, Larry Kudlow, Bill Clinton, Gary Cohn, Lawrence Summers, Gene Sperling, It's, Donald Trump, Kevin Lamarque, Jared Bernstein, Ben Harris, Heather Boushey, Brian Deese, Republican Powell, Federal Reserve Bank of Atlanta Raphael, Bostic, Clodagh Kilcoyne Organizations: Democratic U.S, Reuters, Treasury, Commerce Department, Securities and Exchange Commission, National Economic Council, U.S . Trade, Economic, Consumer Financial, Biden, Federal, Gross, House Democrats, Republicans, CNBC, AFP, Getty, Twitter, National, Iraqi, White, Reuters Trade, World Trade Organization, of Economic Advisers, NEC, CEA, White House, Trump, American, BlackRock, Fed, Democrat, Republican, Federal Reserve Bank of Atlanta Locations: U.S, Philadelphia , Pennsylvania, Covid, China, Diaoyutai, Beijing, America, Europe, Washington, Geneva, Dublin, Ireland
UK car industry says failure to clinch Brexit deal could cost $74 billion by 2025
  + stars: | 2020-11-24 | by ( Nick Carey | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: Workers assemble cars at the plant for the Mini range of cars in Cowley, near Oxford, Britain June 20, 2016. REUTERS/Leon Neal/File PhotoLONDON (Reuters) - Britain’s car industry body on Tuesday called on Brexit negotiators to clinch a deal by the end of 2020, saying failure to do so could cost the sector 55.4 billion pounds ($74 billion) in tariffs by 2025 and undercut its ability to develop the next generation of zero-emission vehicles. The Society of Motor Manufacturers and Traders (SMMT) said a “no deal” Brexit would cut UK vehicle production by two million units over the next five years. Failure to do so could leave car manufacturers paying World Trade Organization (WTO) tariffs on parts and vehicles imported and exported into and out of Britain. The British car industry group said that WTO tariffs of up to 55.4 billion pounds by 2025 would come on top of the immense cost to UK manufacturers of the coronavirus pandemic.
Persons: Leon Neal, Jan Organizations: Workers, REUTERS, Society of Motor Manufacturers, Traders, EU, World Trade Organization Locations: Cowley, Oxford, Britain, British, EU
EU, Canada, others push trade plan to help in COVID-19 battle
  + stars: | 2020-11-23 | by ( Philip Blenkinsop | ) www.reuters.com sentiment -0.94   time to read: +2 min
BRUSSELS (Reuters) - The European Union, Canada and 11 other countries agreed on Monday to measures such as eliminating export curbs they believe should form the basis of a global deal to help tackle COVID-19 and future pandemics. FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium August 21, 2020. REUTERS/Yves HermanThe “Ottawa Group” will present its proposals to the World Trade Organization in mid-December in the hope its 164 members will sign up early in 2021. WTO members should, they say, take steps to ease trade flows, such as streamlining customs, and not impose on pandemic-related goods during the crisis. They also urge greater transparency and believe the WTO, World Health Organization and World Customs Organization can work more closely to be ready for future pandemics.
Persons: COVID, Yves Herman The Organizations: European Union, European Commission, REUTERS, Yves Herman The “ Ottawa, , World Trade Organization, World Health Organization, World Customs Organization, Ottawa, WTO Locations: BRUSSELS, Canada, Brussels, Belgium, United States, China, Australia, Brazil, Chile, Japan, Kenya, South Korea, Mexico, New Zealand, Norway, Singapore, Switzerland, India, South Africa
Total: 25