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Highlights of the 17-year Airbus, Boeing trade war
  + stars: | 2021-06-15 | by ( ) www.reuters.com + 0.00   time to read: +7 min
2004The U.S. seeks talks with the EU and Airbus (AIR.PA) host nations Britain, France, Germany and Spain over alleged unfair subsidies via government loans. Washington terminates a 1992 U.S.-EU agreement covering support for Airbus and Boeing (BA.N). 2005The WTO launches twin probes into public support for Boeing and Airbus after bilateral negotiations fail. 2018In May, the WTO again rules that the EU has failed to halt all subsidies to Airbus. 2019In March, the WTO says the United States has again failed to halt subsidized tax breaks to Boeing in Washington state.
Persons: Robert Lighthizer, Andrea Shalal, Tim Hepher, David Evans, Keith Weir, Daniel Wallis Organizations: European Union, Wednesday, planemaker Boeing, Airbus, World Trade Organization, EU, Washington, Boeing, WTO, U.S ., NASA, U.S, United, European Commission, U.S . Trade, Washington State, Thomson Locations: United States, China, Britain, France, Germany, Spain, U.S, EU, Washington, Brussels, Europe
The End of the Boeing-Airbus Spat Begins the Aviation Battle With China
  + stars: | 2021-06-15 | by ( Jon Sindreu | ) www.wsj.com sentiment -0.91   time to read: +1 min
On Tuesday, the U.S. and the European Union agreed on a temporary end to the 17-year-old spat involving government subsidies given to plane makers Boeing and Airbus . Negotiations have also been pushed along by the Biden administration’s more conciliatory stance toward trade relative to former President Trump. The Asian giant is determined to follow in Airbus’ footsteps, with state-owned aerospace manufacturer Comac taking center stage in the government’s “Made in China 2025” strategy. China has also partnered with Russia to build a wide-body aircraft, the C929, that could take on long-haul routes. An aerospace alliance between these two countries could become a real threat in the long run.
Persons: Biden, Trump Organizations: European Union, Boeing, Airbus, World Trade Organization Locations: U.S, tatters, China, Russia
EU says it has resolved 17-year aircraft battle with U.S.
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +2 min
A worker adjusts European Union and U.S. flags at the start of the 2nd round of EU-US trade negotiations for Transatlantic Trade and Investment Partnership at the EU Commission headquarters in Brussels November 11, 2013. REUTERS/Francois Lenoir/File PhotoThe European Union and the United States have resolved their near 17-year conflict over aircraft subsidies, the EU said on Tuesday, bringing to a close one set of Trump-era tariffs which had soured relations between them. On Tuesday they were set to remove them for five years, while still working on an overall deal on what subsidies to allow. The agreement should allow them to focus on the threat posed by China's nascent commercial aircraft industry. Brussels is also pushing what is dubs a new "positive agenda" on trade with Washington, including forging an alliance to drive WTO reform.
Persons: Francois Lenoir, Ursula von der Leyen, Joe Biden, Donald Trump's, Davidson Organizations: Union, Transatlantic Trade, Investment, EU, REUTERS, European Union, Trump, World Trade Organization, U.S, planemaker Boeing, Airbus, European Commission, Harley, Thomson Locations: Brussels, United States, EU, Washington, China, States
U.S, EU agree truce in 17-year aircraft subsidy battle
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +3 min
A worker adjusts European Union and U.S. flags at the start of the 2nd round of EU-US trade negotiations for Transatlantic Trade and Investment Partnership at the EU Commission headquarters in Brussels November 11, 2013. REUTERS/Francois Lenoir/File PhotoThe United States and the European Union have agreed a truce in their near 17-year conflict over aircraft subsidies, bringing to a close one set of Trump-era tariffs which had soured relations between them. On Tuesday they said they would remove them for five years, while still working on an overall deal on what subsidies to allow. European Commission president Ursula von der Leyen said in a statement an EU-U.S. summit with U.S. President Joe Biden had begun with a breakthrough. The two are also likely to agree to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Francois Lenoir, Ursula von der Leyen, Joe Biden, Katherine Tai, Tai, Liz Truss, Donald Trump's, Davidson Organizations: Union, Transatlantic Trade, Investment, EU, REUTERS, European Union, Trump, World Trade Organization, U.S, planemaker Boeing, Airbus, European, U.S . Trade, Britain, European Commission, Harley, Thomson Locations: Brussels, States, EU, China, Washington
U.S, EU agree truce in 17-year aircraft subsidy conflict
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Francois Lenoir/File PhotoThe United States and the European Union have agreed a truce in their near 17-year conflict over aircraft subsidies, suspending for five years one set of Trump-era tariffs which had soured relations between them. "With this agreement, we are grounding the Airbus-Boeing dispute," EU trade chief Valdis Dombrovskis said in a statement during an EU-U.S. summit with U.S. President Joe Biden. They would also work to counter investments in aircraft by "non-market actors", she said, referring specifically to China. Airbus said it welcomed the truce that would end "lose-lose" tariffs, which had also been imposed on planes. The two are also likely to agree to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Francois Lenoir, Valdis Dombrovskis, Joe Biden, Katherine Tai, Tai, Liz Truss, Donald Trump's, Davidson Organizations: Union, Transatlantic Trade, Investment, EU, REUTERS, European Union, Trump, World Trade Organization, U.S, planemaker Boeing, Airbus, WTO, Boeing, U.S . Trade, Britain, European Commission, Harley, Thomson Locations: Brussels, States, EU, China, United States, Washington
U.S, EU agree truce in 17-year Airbus-Boeing conflict
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com + 0.00   time to read: +5 min
"Grounding the Airbus-Boeing dispute delivers a major confidence boost for EU-U.S. relations," EU trade chief Valdis Dombrovskis told a news conference after an EU-U.S. summit with U.S. President Joe Biden. Both sides said they were confident the Airbus/Boeing dispute would indeed end within five years. BRITAIN WAITS, STEEL DISPUTE LINGERSFormer EU member Britain, which was also involved in the dispute as a home to Airbus production, said it hoped for a similar deal within days. An EU official said the two sides had a "robust" discussion on metals, with disagreement on the rationale for the tariffs. The two also agreed to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Valdis Dombrovskis, Joe Biden, Katherine Tai, Francois Lenoir, Read, Biden, Ngozi Okonjo, Tai, Liz Truss, Donald Trump's, Davidson, Marine Strauss, Philip Blenkinsop, Louise Heavens Organizations: Trump, Britain, European Union, World Trade Organization, U.S, planemaker Boeing, Airbus, WTO, Boeing, EU, U.S . Trade, Union, Transatlantic Trade, Investment, REUTERS, European Commission, Harley, Thomson Locations: U.S, BRUSSELS, United States, EU, China, Brussels, France, Germany, WTO, Washington, States
BRUSSELS—The U.S. and the European Union agreed to suspend their trade dispute over government subsidies to Boeing Co. and Airbus SE, significantly easing trade tensions amid a broader effort to improve trans-Atlantic relations. The agreement would suspend for five years tariffs that have been authorized by the World Trade Organization, U.S. Trade Representative Katherine Tai told reporters on Tuesday. Defusing the aircraft trade fight would mark a tangible achievement for his week of European diplomacy. Setting aside trans-Atlantic differences on the aviation dispute allows the allies to jointly focus on China. “Instead of fighting with one of our closest allies, we are finally coming together against a common threat,” Ms. Tai said.
Persons: Katherine Tai, ” Ms, Tai, Ursula von der Leyen, Ms, von der Leyen, Biden, kenzo tribouillard, Donald Trump, Antony Blinken, Gina Raimondo, Trump, WSJ’s Jaden Urbi, George Downs, — Paul Hannon, Daniel Michaels, Andrew Restuccia, Doug Cameron Organizations: European Union, Boeing Co, Airbus, World Trade Organization, . Trade, EU . European, Twitter, Biden, Agence France, Seven, Boeing, Street, EU, U.S, WTO, Delta Air Lines Inc, Ryanair Holdings PLC’s Boeing, MAX, Ryanair Locations: BRUSSELS, The U.S, Brussels, China, Russia, Iran, U.S, Washington, France, Germany, doug.cameron
WASHINGTON — The United States and Europe will announce a new joint technology and trade initiative on Tuesday, part of a wide-reaching effort this week by President Joe Biden to rally European allies and challenge China's rising influence. The U.S.-EU Trade and Technology Council will have three overarching goals: To establish new global trade standards for emerging technology; to promote democratic values online; and to find ways for the United States and the EU to collaborate on cutting edge research and development. On the U.S. side, the trade council will be co-chaired by Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo and Ambassador Katherine Tai, the U.S. trade representative, said a Biden administration official who briefed reporters and requested anonymity to discuss ongoing negotiations. Other specific goals of the council include:To coordinate standards on new technology like artificial intelligence, quantum computing and biotechnology. Over the past decade, China has made huge public investments in its technology sector.
Persons: Joe Biden, WASHINGTON —, Jake Sullivan, Antony Blinken, Gina Raimondo, Katherine Tai Organizations: NATO, WASHINGTON, EU Trade, Technology, EU, Biden, World Trade Organization Locations: Brussels, Belgium, United States, Europe, U.S, China
The U.S. and EU are nearing a truce on the Boeing-Airbus dispute
  + stars: | 2021-06-15 | by ( Silvia Amaro | ) www.cnbc.com sentiment -0.99   time to read: +1 min
President Joe Biden and his EU counterparts are keen to show that there is new momentum in the trans-Atlantic relationship. CNBC reported last week that the EU was pressing the White House to reach a deal to end trade tariffs imposed during the Donald Trump presidency, in relation to the Airbus and Boeing dispute that first emerged in 2004. Trump imposed duties worth $7.5 billion on European products after the World Trade Organization ruled that the EU had given unfair subsidies to Airbus. Shortly afterwards, the EU imposed tariffs worth $4 billion on U.S. products off the back of another WTO ruling that said the U.S. had granted illegal aid to Boeing. The EU has been keen to set a date to remove these outstanding tariffs and suggested July 11 last week.
Persons: Joe Biden, Emmanuel Macron, Ursula von der Leyen, Donald Trump, Trump Organizations: LONDON, European, EU, CNBC, Airbus, Boeing, White, Trump, World Trade Organization Locations: Carbis Bay, Cornwall, United States, China, U.S
EU, U.S. set to unveil truce in 17-year aircraft battle
  + stars: | 2021-06-15 | by ( Philip Blenkinsop | ) www.reuters.com sentiment -0.55   time to read: +2 min
The European Union and the United States were on the verge of announcing a truce on Tuesday in their 17-year conflict over aircraft subsidies, bringing to a close one set of Trump-era tariffs which had soured relations between them. The two sides have been battling since 2004 in parallel cases at the World Trade Organization over subsidies for U.S. planemaker Boeing (BA.N) and European rival Airbus (AIR.PA). On Tuesday they were set to remove them for five years, while still working on an overall deal on what subsidies to allow. Brussels is also pushing what is dubs a new "positive agenda" on trade with Washington, including forging an alliance to drive WTO reform. The two are also likely to agree to cooperate on trade and technology, such as for setting compatible standards and facilitating trade in artificial intelligence.
Persons: Ursula von der Leyen, Joe Biden, Donald Trump's, Davidson Organizations: European Union, Trump, World Trade Organization, U.S, planemaker Boeing, Airbus, Boeing, Commission, European Commission, EU, Harley, Thomson Locations: United States, EU, Brussels, Washington, China, States
London/Brussels (CNN Business) The United States and the European Union are poised to resolve a long-running trade dispute over subsidies to Airbus and Boeing, a move that could improve transatlantic relations as both sides seek to counter China's rising economic influence. The United States and the European Union are expected to announce a resolution of the dispute over government subsidies for the world's leading commercial plane makers during a summit in Brussels on Tuesday, according to a US official. EU Trade Commissioner Valdis Dombrovskis and US Trade Representative Katherine Tai have scheduled a news conference for 9 a.m. The United States, European Union and United Kingdom agreed in March to suspend related tariffs worth billions of dollars for four months. The United States filed a similar claim that year over European subsidies to Airbus.
Persons: Valdis Dombrovskis, Katherine Tai, that's Organizations: CNN, European Union, Airbus, Boeing, EU, US Trade, World Trade Organization, United, Read Locations: Brussels, United States, United Kingdom
Ping Identity (PING) – Ping Identity announced a 6 million share common stock offering, in a sale of shares held by investment funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. Sage Therapeutics (SAGE) – The drugmaker's shares tanked 17.5% in premarket trading following the release of study results for Sage's experimental depression drug. Citi upgraded the stock to "buy" from "neutral" following that update, and shares rallied 2.6% in the premarket. Novavax (NVAX) – Novavax announced positive results from its first study of its Covid-19 vaccine and a flu vaccine administered simultaneously.
Persons: – Vroom, Ping, Katherine Tai, Morgan Stanley, – AstraZeneca, – Novavax Organizations: Ping Identity, Vista Equity Partners, Sage Therapeutics, Boeing, European Union, Airbus, World Trade Organization, U.S . Trade, Exxon Mobil, – Bank of America, Spirit Airlines, Securities and Exchange Commission, Citi, AstraZeneca, Intuit, SEC, Vimeo Locations: U.S
WTO head says pandemic-related trade barriers are rising
  + stars: | 2021-06-14 | by ( Emma Farge | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Dado Ruvic/Illustration/File PhotoThe head of the World Trade Organization said on Monday that trade barriers related to medical supplies used against COVID-19 had risen and urged member states to drop them, as it intensified efforts to reach a deal on vaccine-sharing. "The trend is going in the wrong direction," WTO Director General Ngozi Okonjo-Iweala told a virtual U.N. forum, referring to barriers on goods trade related to the pandemic. "We need to bring those restrictions down so we can move ... medical goods and supplies and vaccines (faster)." One such measure is the European Union's export authorisation scheme for COVID-19 vaccines, which is set to expire on 30 June. Most developing countries support the waiver but several wealthy countries remain strongly opposed, saying it will deter research that allowed COVID-19 vaccines to be produced so quickly.
Persons: Johnson, Dado Ruvic, Ngozi Okonjo, Iweala Organizations: AstraZeneca, Pfizer, Biontech, Sputnik, REUTERS, World Trade Organization, WTO, International Chamber of Commerce, Thomson Locations: European, Okonjo
"G7 leaders have utterly failed to face up to the challenges facing the world," said Nick Dearden, director of campaign group Global Justice Now. This summit proves beyond all doubt that the G7 is not fit for purpose," Dearden said. In a note Monday, Paul Donovan, chief economist at UBS Global Wealth Management, referred to the G-7 as a "selfie summit." "The main focus of the G7 meeting (the photo opportunity) seemed to go well. Extinction Rebellion (XR) activists take part in the "Sound The Alarm" march during the G7 summit in Cornwall on June 11, 2021 in St Ives, Cornwall, England.
Persons: Charles Michel, Joe Biden, Yoshihide Suga, Boris Johnson, Mario Draghi, Leon Neal, Nick Dearden, Dearden, Paul Donovan, Donovan, Jeff J Mitchell Organizations: European, Japanese, Italian, Getty, Hong, Sino, U.S, of British Industry, Global, EU, European Commission, European Council, UBS Global Wealth Management, WHO, World Trade Organization Locations: U.S, British, Carbis, Carbis Bay, Cornwall, China, England, Xinjiang, Hong Kong, Canada, France, Germany, Italy, Japan, Australia, India, South Korea, United States, St Ives, South Africa, Switzerland, Norway, Brazil
WTO head hopes for deal by July on vaccine-sharing
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -1.00   time to read: 1 min
Vials labelled "AstraZeneca, Pfizer - Biontech, Johnson&Johnson, Sputnik V coronavirus disease (COVID-19) vaccine" are seen in this illustration picture taken May 2, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoThe head of the World Trade Organization said on Monday she hoped that members could reach an agreement by July on improving access to COVID-19 vaccines after months of talks on waiving drug firms' intellectual property rights. "It's going to be tough because there are still differences but we hope we can get to a pragmatic approach," Ngozi Okonjo-Iweala told a virtual U.N. forum. "I'm in a hurry and I want us to get some agreement by July because lives are important." Our Standards: The Thomson Reuters Trust Principles.
Persons: Johnson, Dado Ruvic, Iweala Organizations: AstraZeneca, Pfizer, Biontech, Sputnik, REUTERS, World Trade Organization, Thomson
read moreThe European Commission, which oversees EU trade policy, is keen to find a solution by July 11 when a suspension of transatlantic tariffs agreed in March comes to an end. But hurdles remain over the extent to which those conditions could effectively allow the United States to approve or block European projects, they added. read moreThe United States wants a common review of aerospace funding in non-market economies like China, two of the people said. Britain and the United States committed last week to settle the aircraft dispute. A European diplomat said Britain and the EU were broadly aligned in trying to reach a deal with the United States.
Persons: Pascal Rossignol, Katherine Tai, Valdis Dombrovskis, Robert Lighthizer, Washington, Marjorie Chorlins, It's, Brexit Organizations: Airbus, Boeing, 51st Paris Air, REUTERS, European Union, EU, . Trade, European Commission, World Trade Organization, Reuters, U.S . Chamber, Commerce, Washington, Thomson Locations: Le Bourget, Paris, United States, Europe, China, Washington, London, Tuesday's U.S, Britain, United, CHINA, U.S, Beijing, Hungary, Hong Kong, Brussels, EU, European
It was a bad week for China on the world stage. And at home, our squabbling US Senate somehow managed to pass a $250 billion bill countering China. This week the leaders of the Western world turned their eyes toward China, and as a result it was one of the worst weeks for Beijing on the world stage in some time. Before he left for Europe, Biden met with NATO Secretary-General Jens Stoltenberg at the White House. China responded to the bill saying that it "slanders China" and is "full of Cold War mentality and ideological prejudice."
Persons: Biden, Joe Biden, Donald Trump, They've, America's, , Trump, Boris Johnson, Janet Yellen's, Jens Stoltenberg, Stoltenberg, George Kennan —, Kennan, Mitch McConnell's Organizations: EU, NATO, Republicans, Beijing, Times, Chinese Communist Party, CCP, European Union, Europe, White, Wall Street, National Science Foundation, Olympics, World Bank, International Monetary Fund, World Trade Organizations, United Nations Locations: China, Europe, Beijing, Washington, Xinjiang Uyghur Autonomous Region, United States, Muslims, EU, Ireland, Northern Ireland, American, USSR, Taiwan
"I think we can sort it out but ... it is up to our EU friends and partners to understand that we will do whatever it takes," Johnson told Sky News. NO NARROWING OF POSITIONSThe province has an open border with EU member Ireland so the Northern Ireland protocol was agreed as a way to preserve the bloc's single market after Britain left. "Both sides must implement what we agreed on," von der Leyen, European Commission president, said after meeting Johnson alongside Michel, the European Council president. Germany’s Merkel said the two sides could find pragmatic solutions on technical questions, while the EU protected its single market. The head of the World Trade Organization said she hoped the tensions would not escalate into a trade war.
Persons: Boris Johnson, Johnson, Joe Biden, I've, Emmanuel Macron, Angela Merkel, Ursula von der Leyen, Charles Michel, Peter Nicholls, von der Leyen, Michel, Germany’s Merkel, Brexit, France’s Macron Organizations: European Union, EU, U.S, Sky News, Ireland, Britain, European, REUTERS, European Commission, World Trade Organization, United, Irish Catholic, British, Thomson Locations: Britain, Northern Ireland, British, German, England, United Kingdom, Carbis Bay, Cornwall, United States, Carbis, Ireland
G7 reaches consensus on China dumping, human rights abuses -U.S. official
  + stars: | 2021-06-12 | by ( ) www.reuters.com sentiment -0.73   time to read: +1 min
British Prime Minister Boris Johnson, U.S. President Joe Biden, France's President Emmanuel Macron, Canadian Prime Minister Justin Trudeau, Australia's Prime Minister Scott Morrison, German Chancellor Angela Merkel, South Africa's President Cyril Ramaphosa and South Korea's President Moon Jae-in attend a working session during G7 summit in Carbis Bay, Cornwall, Britain, June 12, 2021. Leon Neal/Pool via REUTERSG7 leaders have reached consensus on the need for a shared approach to China selling exports at unfairly low prices and to human rights abuses, a senior official in the U.S. President Joe Biden's administration said on Saturday. "I would say there was unanimity in terms of a willingness to call out human rights abuses and violations of fundamental freedoms that invoke our shared values," the official said. "There was commitment to take action in response to what we're seeing." The official said the G7 had moved far from three years ago when the final communique made no mention of China.
Persons: Boris Johnson, Joe Biden, Emmanuel Macron, Justin Trudeau, Scott Morrison, Angela Merkel, Cyril Ramaphosa, Moon Jae, Leon Neal, Joe Biden's Organizations: British, Canadian, Australia's, REUTERS, Seven, World Trade Organization, Thomson Locations: U.S, German, Carbis Bay, Cornwall, Britain, China, United States
G7 reaches consensus on China dumping, human rights abuses: U.S. official
  + stars: | 2021-06-12 | by ( ) www.cnbc.com sentiment -0.87   time to read: +1 min
G7 leaders have reached consensus on the need for a shared approach to China selling exports at unfairly low prices and to human rights abuses, a senior official in the U.S. President Joe Biden's administration said on Saturday. The official, speaking on condition of anonymity, said the leaders of the Group of Seven world's largest advanced economies had also agreed on the need to coordinate on supply chain resilience to ensure democracies are supporting each other. "I would say there was unanimity in terms of a willingness to call out human rights abuses and violations of fundamental freedoms that invoke our shared values," the official said. "There was commitment to take action in response to what we're seeing." The official said the G7 had moved far from three years ago when the final communique made no mention of China.
Persons: Angela Merkel, Ursula von der Leyen, Emmanuel Macron, Yoshihide Suga, Queen Elizabeth II, Justin Trudeau, Boris Johnson, Mario Draghi, Charles Michel, Joe Biden, Joe Biden's Organizations: Canadian, British, European, United, The, Seven, World Trade Organization Locations: Italian, The Eden, St Austell , Cornwall, England, China, U.S, United States
But they're not enough, diplomats and foreign policy experts say. Both Biden and his top diplomat, Secretary of State Antony Blinken, have repeatedly said U.S. foreign policy first and foremost should benefit America's middle class. A LESS DEMOCRATIC AMERICA? A major underlying concern for many foreign allies is a fundamental one, many experts say - their faith in American democracy is shaken. Biden's Democratic Party operates on a razor-thin majority in the U.S. Congress, making it difficult to pass legislation and reset international goals.
Persons: Joe Biden, Boris Johnson, Toby Melville, Washington’s, Donald Trump, Joe Biden's, they're, Biden, Trump, David O'Sullivan, Harry Broadman, Antony Blinken, Jamie Shea, Janet Yellen's Organizations: Britain's, Atlantic Charter, REUTERS, Democratic, Western, NATO, European, Trump, European Union, Biden, U.S, Berkeley Research, World Trade Organization, U.S . Capitol, Reuters, Democratic Party, U.S . Congress, Republican, Treasury, Top Senate Republicans, Pew Research Center, Thomson Locations: Carbis Bay, Cornwall, Britain, United States, European Union, European, Washington, China, U.S, Afghanistan, America, Europe, Brussels
S.Korea's Moon heads for G7 summit overshadowed by China
  + stars: | 2021-06-11 | by ( Josh Smith | ) www.reuters.com + 0.00   time to read: +3 min
South Korean President Moon Jae-in in Washington, U.S., May 21, 2021. Under Moon, South Korea has committed to zero emissions by 2050 and unveiled a "Green New Deal" to harness investment in green technology as a way to recover from the pandemic and vowed to end funding coal plants around the region. The presidential official did not mention China, but said that Moon would take part in discussions on "the need to reinforce the global supply chain and free trade." Anti-China sentiment has reached historic highs in South Korea and Moon's ruling party is facing domestic pressure on the issue. "This gives the Moon government sufficient diplomatic cover to cooperate with Biden's China policy."
Persons: Moon Jae, Sarah Silbiger, Moon, Joe Biden, Donald Trump, Ramon Pacheco Pardo, Biden, Moon's, Anthony Rinna Organizations: South, REUTERS, Group, World Trade Organization, King's College London, South Korea, NK, Thomson Locations: Washington , U.S, Britain, China, South Korea, South, Australia, Seoul, Beijing, Korea, United States, Taiwan Strait
U.S. Trade Representative Katherine Tai said on Thursday the Biden administration was working on multiple fronts to end the pandemic. "Extraordinary circumstances call for extraordinary measures," Tai told a virtual town hall for union members hosted by the AFL-CIO trade federation. Sean Flynn, an expert on intellectual property at American University Washington, said he expects the WTO to reach a deal on a waiver during a ministerial meeting later this year. The pharmaceutical industry argues that companies invested their own funds to develop vaccines and waiving their IP rights will undermine such work in the future. Robert Grant, senior director of international affairs at the U.S. Chamber of Commerce’s Global Innovation Policy Center, said there was "no evidence" that waiving intellectual property rights would boost vaccine production.
Persons: Lucy Nicholson, Katherine Tai, Biden, Tai, Joe Biden, Sean Flynn, Janet Yellen, Robert Grant, we’re, Organizations: Pfizer, REUTERS, U.S . Trade, AFL, World Trade Organization, WTO, Biden, American University Washington, Treasury, U.S . Chamber, Innovation Policy, Thomson Locations: Los Angeles , California, U.S, States, Washington, Germany, Britain
US President Joe Biden meets with British Prime Minister Boris Johnson on Thursday ahead of the G7 summit in Cornwall. Several guest countries have also been invited to join the summit, including Australia, which will use the occasion to seek support in its escalating trade disputes with China. On Thursday, the Chinese Foreign Ministry hit out at Biden's plan to rally allies on China, accusing it of "fanning confrontation." Nor is the fact that it is the G7 reacting to China, rather than China reacting to the G7, lost on observers in Beijing. Chinese observers cited by the Global Times appear confident that G7 countries' "fundamental divergences" on how to deal with China will "hinder them from making any substantial moves."
Persons: Joe Biden, Biden, Boris Johnson, Washington, Scott Morrison, Wang Wenbin, China's, Didi, Jill Disis, Pamela Boykoff, Asia Myanmar's, Aung San Suu Kyi, Agnes Callamard, Callamard, Beijing's Organizations: CNN, Washington, South China, Washington Post, British, Initiative, Australian, World Trade Organization, Chinese Foreign Ministry, Times, Global Times, New York Stock Exchange, Nasdaq, Nobel, Afghan ISIS, Halo Trust, United Nations, Amnesty, Communist Party Locations: China, England, Beijing, Xinjiang, Hong Kong, South, United States, Russia, Cornwall, China's, Australia, Miaofeng, New York, Brazil, Mexico, Asia, South Korea, Afghan, Afghanistan, Xinjiang Uyghur Autonomous Region
U.S., Taiwan officials discuss trade, plan meeting 'in coming weeks'-USTR
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.98   time to read: +2 min
U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021. Susan Walsh/Pool via REUTERS/File PhotoUnited States Trade Representative Katherine Tai discussed trade and investment issues with Taiwan minister John Deng on Thursday and agreed to convene a meeting of the countries' Trade And Investment Framework Agreement Council "in coming weeks", Tai's office said in a statement. "Ambassador Tai emphasized the importance of the U.S.-Taiwan trade and investment relationship and explained the Biden-Harris administration's worker-centered trade priorities," USTR said. Taiwan has long angled for a free trade deal with the United States, but trade and investment talks between the two have been stalled since the Obama administration. The outcome could affect trade talks with Washington.
Persons: Katherine Tai, Susan Walsh, John Deng, Tai, Harris, USTR, Antony Blinken, Biden, Obama, Barack Obama, Donald Trump's, Robert Lighthizer Organizations: Trade, Senate, Capitol, United States Trade, U.S ., Biden, Reuters, American Institute, Cultural, World Trade Organization, New Zealand, Washington, Thomson Locations: Washington , U.S, Taiwan, U.S, Washington, Beijing, United States, Taipei, China, Singapore, New
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