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U.S. unveils new veto threat against WTO rulings

“Shea told the WTO’s dispute settlement body that rulings by the WTO’s Appellate Body, effectively the supreme court of world trade, were invalid if they took too long” reports businessinsider.com. On Friday, U.S. ally Japan endorsed the petition for the first time, meaning that all the major users of the dispute system were united in opposition to Trump.Rulings are routinely late because, the WTO says, disputes are abundant and complex. Source: businessinsider.com Share This:

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This was not the dream for U.S.-China trade

“Trade with China has always been about more than just trade” writes Steven Mufson Covers for washingtonpost.com. China’s economy has grown stronger, and a sense of strategic rivalry has cast a pall over relations.Policy experts and business executives across the political spectrum applaud confronting China on trade, but few believe Trump can follow through. Source: washingtonpost.com Share This:

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WTO Chief: Trump’s Trade Disputes Causing ‘Global Downturn’

“But in 2018, higher U.S. interest rates and trade policy uncertainty has added headwinds, along with concerns that the global market cycle is aging.”” writes Taylor Nicole Rogers for thestreet.com. President Trump’s public quarrels with other world leaders over trade has “absolutely” put the global economy at risk, Director-General of the World Trade Organization Roberto Azevedo said in an interview Wednesday.Even if the United States does come to a peaceful resolution of its trade disputes, economic pain may be unavoidable.”In the last couple of weeks, uncertainty about trade policy has…

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Mexico complains to WTO about steel tariffs, following Canada, Europe

“They include: pork, where Mexico buys between 80-99 percent of Texas products; Whiskey, for which Mexico is two-thirds of Texas’ market; and flat-rolled iron, of which Mexico purchases 94 percent of what Texas makes” reports washingtonexaminer.com. Alabama will also be hit hard with tariffs on flat-rolled steel, because Mexico accounts for 56 percent of its market for that product.Mexico is hitting back hard against the Trump White House on trade, filing a complaint Thursday with the World Trade Organization against the United States’ steel and aluminum tariffs. Source: washingtonexaminer.com Share This:

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Given how Trump is treating U.S. allies, America could soon find itself short of friends

“The national-security exception to tariff-reducing international trade rules is and was meant to be applied narrowly and sparingly, lest the exception swallow the rules” reports washingtonpost.com. Trump’s bidding; there is still time to head off a trade war before it spoils prosperity both in the United States and abroad.For seven decades, a bipartisan consensus has held that the United States has more to gain, both economically and politically, by expanding the circle of partners with which it trades as freely as possible. Source: washingtonpost.com Share This:

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The US and EU are at odds again over Airbus subsidies

“The U.S. official said Washington wanted to agree to a deal to avoid similar disputes over subsidies in future, although it was prepared to seek countermeasures on EU products if necessary” writes Leslie Josephs for cnbc.com. The United States won a partial victory on May 15 against EU support for Airbus at the WTO, clearing the way for possible U.S. sanctions in a 14-year-old dispute over claims of illegal handouts for aircraft makers. Source: cnbc.com Share This:

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U.S. and EU again at odds over Airbus subsidies at WTO

“GENEVA (Reuters) – The European Union told the World Trade Organization’s dispute settlement body on Monday that it had acted within days of a WTO ruling to bring its funding of planemaker Airbus into line with WTO rules, a trade official who attended the meeting said” writes Midwest Communications Inc for 95kqds.com. The United States won a partial victory on May 15 against EU support for Airbus at the WTO, clearing the way for possible U.S. sanctions in a 14-year-old dispute over claims of illegal handouts for aircraft makers.But a…

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Airbus says obeying WTO subsidy verdict as sanctions loom

“The EU says it expects to strike a similar legal blow later this year in a parallel WTO case about U.S. support for Boeing, raising the prospect of a tit-for-tat sanctions battle” reports businessinsider.com. Tuesday’s pledge of compliance by Airbus does not necessarily mean the dispute is over.The move comes days after the United States won a partial victory against European Union support for Airbus at the WTO, clearing the way for possible U.S. sanctions in a 14-year-old dispute over claims of illegal handouts for planemakers.Karl Hennessee, senior vice president…

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Airbus moves to comply with WTO ruling on aircraft subsidies

“Airbus said on Tuesday it had taken steps to comply with a World Trade Organization (WTO) ruling on subsidies for its A350 and A380 jets, which has seen the United States and Europe trade legal blows on behalf of Boeing and Airbus” writes Yuriko Nakao for cnbc.com. It is also part of a two-way battle between the EU and the United States over aircraft subsidies that could spark tit-for-tat reprisals between the two trade superpowers. Source: cnbc.com Share This:

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