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China’s five-year plan sets goals for seven high-tech sectors, R&D spending

China on Friday issued a much-anticipated five-year plan that stakes out goals for development in seven high-tech sectors, outlines increases in research and development spending and emphasizes a need to attract foreign investment as part of its dual circulation strategy.

Sen. Casey to propose outbound investment screen for critical supply chains

Senator Bob Casey (D-PA) is refining legislation that would establish a process to screen outbound investments and the offshoring of critical supply chains to ensure the U.S. is prepared “in times of crisis,” he said in a statement.

U.S. pledges active participation in WTO environmental sustainability talks

The U.S. on Friday said it would be an active and constructive participant in the World Trade Organization plurilateral discussions on environmental sustainability, a push likely to fit in to the Biden administration’s climate change agenda.

U.S., EU agree to four-month suspension of tariffs in Boeing-Airbus dispute

The U.S. and European Union on Friday agreed to a four-month suspension of all tariffs imposed in the World Trade Organization disputes involving aircraft producers Airbus and Boeing, committing to work toward a permanent resolution.

China moves to attract foreign investment to bolster high-tech sectors

China’s Ministry of Commerce this week issued guidance saying Beijing will promote initiatives that attract foreign investment in high-tech sectors as a means to strengthen its supply chains, suggesting a range of moves including tax concessions and the expansion of free trade zones but noting all investments must fit China’s national strategy.

EU: Proposed U.S. restriction on procurement at the WTO a bad signal

The European Union, Korea, Australia and other World Trade Organization members criticized the U.S. on Wednesday for its plan to restrict U.S. procurement coverage of essential medical products, arguing it could disrupt international trade flows amid an ongoing pandemic and urging the U.S. to further clarify the implications of its proposal.

This Week In Trade

World Trade Organization members are looking to get back on track after spending the last six months without a director-general and the last three years without a ministerial -- and after missing a much-ballyhooed deadline for a deal to curb harmful fisheries subsides.

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