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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.
The U.S. and the United Kingdom on Thursday announced plans to temporarily suspend tariffs imposed in the 16-year-old World Trade Organization dispute involving aircraft producers Airbus and Boeing, pledging to work toward a resolution.
The European Union’s agriculture sustainability strategy, known as “Farm to Fork,” is “straight up protectionism,” the former top agricultural negotiator at the Office of the U.S. Trade Representative said this week, arguing that the bloc was claiming its blocking of new agricultural technology would make European agriculture more sustainable.
The U.S. will aim to “protect America’s tax revenues” in negotiations at the Organization for Economic Cooperation and Development, President Biden’s pick for deputy Treasury secretary said on Tuesday, potentially complicating talks with other countries that want U.S.-based companies to pay taxes in other jurisdictions.
Economic challenges presented by China will be countered most effectively if the U.S. and its allies in Europe and Asia work together, President Biden said in his first major international address since inauguration, delivered at this year’s Munich Security Conference.
The U.S. had some “valid” concerns about the World Trade Organization’s Appellate Body, the European Union acknowledged this week in a new trade strategy, moving closer to the U.S. – at least officially – on dispute settlement issues as well as other WTO reform priorities like special and differential treatment.
President Biden should adopt a “strategy for post-Brexit Britain” that includes a free trade agreement between the two countries, former U.S. Trade Representative Robert Zoellick argued on Wednesday.
Yellen committed to “re-engage actively” in the ongoing OECD talks on a new international tax framework.
“The U.S. Trade Representative will continue to consider the action taken in this investigation.”
“Without immediate relief there is a real possibility that the United States could lose the fresh grapefruit market in the EU to other countries that are not subject to this tariff,” the members of Congress wrote.
A new U.S. administration focused on combating climate change provides an opportunity for international cooperation in shaping a global trade agenda that places greater emphasis on environmental concerns, European Union and New Zealand officials and a former Obama administration official said on Monday.
House Ways & Means Committee Chairman Richard Neal (D-MA) hopes U.S. trade agreements with the United Kingdom and Kenya will be concluded and sent to Capitol Hill for review this year, he said on Tuesday.
Ambassadors from the European Union and the United Kingdom this week said they hoped the likely confirmation of Katherine Tai as U.S. Trade Representative would allow progress on pressing trade issues including Boeing-Airbus disputes and a U.S.-UK deal.
The U.S. Chamber of Commerce on Wednesday urged the Biden administration to launch a trade and technology council with the European Union, as the bloc has proposed, and cited conversations with the State Department in which they said officials had been “receptive” to the idea.
The European Union’s new investment deal with China was struck in part to “catch up” with the U.S. and other countries negotiating pacts with Beijing and should be viewed as part of a broader strategy that includes cooperation with Washington, EU Trade Commissioner Valdis Dombrovskis said this week.
British Trade Secretary Liz Truss said the move would be good for both the UK and member countries.
Lifting steel and aluminum duties on the EU before the bloc retaliates further “is an early -- and remarkably easy -- test for President Biden,” Cato’s Scott Lincicome said.
Treasury Secretary Janet Yellen and French Economy Minister Bruno Le Maire on Thursday agreed on the need to secure a multilateral tax solution via ongoing Organization for Economic Cooperation and Development negotiations, France said in a statement on a call between the two.
The U.S. and European Union must outrun China in the technology race while creating the rules needed to protect key innovations, EU Ambassador to the U.S. Stavros Lambrinidis said on Wednesday, arguing that “decoupling” was not possible and the two economies should instead work cooperatively to outpace Beijing.