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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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.
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.
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.
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’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.
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.
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The House on Thursday passed the U.S.-Mexico-Canada Agreement’s implementing bill 385-41, setting up the Trump administration's signature trade deal for Senate consideration – and ratification – in 2020.
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The Senate should not consider the U.S.-Mexico-Canada Agreement under Trade Promotion Authority fast-track procedure because the Trump administration has failed to comply with the law, Sen. Pat Toomey (R-PA) said on Thursday.
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India and South Africa argued such talks were driving attention away from multilateral e-commerce discussions.
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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.
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