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Daily News

October 30, 2020

Carbon border taxes like those being considered by the European Union and others could be imposed in ways that do not run afoul of World Trade Organization rules, analysts say, but doing so would present “significant methodological challenges,” according to a new report.

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October 29, 2020

Chinese party leaders mapping out the country’s future policy direction this week emphasized a need for China to become technologically independent and spur domestic growth and consumption to foster innovation in high-tech areas, according to a communiqué released Thursday following the Communist Party’s fall plenum.

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Secretary of State Mike Pompeo talked trade during meetings with high-level officials in India, the Maldives, Sri Lanka, Vietnam and Indonesia this week, stressing U.S. hopes for stronger economic ties throughout the region -- and Jakarta in particular.

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Senate Finance Committee Chairman Chuck Grassley (R-IA) on Thursday backed the U.S.’ continued support of Korean Trade Minister Yoo Myung-hee to lead the World Trade Organization despite majority support for her rival.

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October 28, 2020

The Office of the U.S. Trade Representative defended its choice in World Trade Organization director-general candidate on Wednesday, arguing the organization “must” be led by someone with "hands-on" experience in trade and that person is Korean Trade Minister Yoo Myung-hee.

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The United States and the European Union on Tuesday chastised China for failing to adequately report steel and semiconductor sector subsidies to the World Trade Organization, while Beijing called a new U.S. practice of investigating currency valuation as a countervailable subsidy an abuse of the system, according to a Geneva official.

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The three main governing bodies of the European Union have agreed on an updated trade enforcement mechanism designed to allow the bloc to impose retaliatory duties without World Trade Organization authorization -- leaving only final approval for it to go into effect.

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Trade could continue to dominate President Trump’s agenda in his final months in office if he loses the election next week, Hogan Lovells trade lawyers said Tuesday.

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Nigeria’s Ngozi Okonjo-Iweala was named on Wednesday as the director-general candidate with the widest support, but her appointment remains in question after the U.S. told members it could not join the consensus for her to lead the WTO, according to a source in the room and other reports. 

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October 27, 2020

The World Trade Organization will announce its consensus director-general pick on Wednesday, with Nigeria’s Ngozi Okonjo-Iweala picking up momentum after winning European Union support this week.

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Global Forum on Steel Excess Capacity members this week reaffirmed their commitment to confront what they called one of the “sharpest downturns” in steel demand ever recorded, urging G20 leaders to address excess capacity issues during a high-profile meeting next month.

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Key policies under consideration in Beijing this week signal the country is aiming to increase its control over companies and the economy rather than striving for market orientation, U.S.-China Business Council President Craig Allen said this week.

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October 26, 2020

World Trade Organization members will soon have to grapple with the repercussions of U.S. agricultural subsidies that likely exceed domestic support commitments while deliberating how best to discipline state support, analysts and former officials said on Monday.

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With one deputy trade representative gone and another expected to depart soon, the Office of the U.S. Trade Representative has shuffled the portfolios of those who remain.

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The U.S. on Monday appealed a World Trade Organization ruling that said its Section 301 tariffs on China violated international trade rules, arguing the report contained factual errors and represented a “missed opportunity” for the WTO to address unfair trade practices by Beijing.

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October 23, 2020

China has purchased more than 70 percent of the U.S. agricultural products it pledged to buy during the first year of its phase-one trade deal with the U.S., according to a new report from the Trump administration that relies on a new method of tracking purchases.

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Mexico’s market-access barriers for U.S. energy companies violate the spirit of the U.S.-Mexico-Canada Agreement, a bipartisan group of lawmakers told President Trump on Thursday.

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As negotiators at the World Trade Organization work to close divides in talks on how to rein in harmful fisheries subsidies ahead of a December deadline, Brazil this week tabled a revised proposal for capping subsidies, an approach that has previously been used by the U.S. and Australia as well as China -- with varying levels of ambition.

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U.S. relations with China -- including the phase-one trade deal -- won’t change much regardless of who wins the White House in November, according to former Ambassador to China Max Baucus, though former Vice President Joe Biden, should he prevail, likely will shake up the “process” while rallying U.S. allies to confront Beijing in a more coordinated fashion.

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October 22, 2020

The U.S. is expected to exceed its World Trade Organization limit on agricultural domestic support for 2019 and 2020, congressional researchers say in a new report, though the Agriculture Department insists the programs were designed with the WTO constraints in mind.

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