WASHINGTON—The Trump administration has formally rejected China’s demand that it be treated as a “market economy” under global trading rules, a move likely to heighten tensions between the world’s two largest economies.
Recently, the U.S. administration reaffirmed China’s non-market economy (NME) status for antidumping purposes.
The U.S. Commerce Department has instructed Customs and Border Protection to collect cash deposits from U.S. importers of Chinese-made aluminum foil at dumping margins ranging from 96.81 percent to 162.24 percent. Read more
Senegal and Uruguay have ratified the WTO’s Trade Facilitation Agreement (TFA). The submission of the instruments of acceptance means that nearly 85% of the ratifications needed to bring the TFA into force have now been received.
The TFA will enter into force once two-thirds of the WTO membership has formally accepted the Agreement. With the acceptance by Senegal and Uruguay, the number of TFA ratifications now stands at 92 (56%). The TFA will enter into effect when 2/3 (110) of the 164 WTO members have ratified the agreement. Read more
In line with World Bank projections in a 2013 report, and down from 6.3% over the same period in 2014. The legal, business and investment environment must be improved to create favorable conditions for firms and investors, and boost economic growth. The World Bank report recommended focus on improving transport and trade logistics to benefit by joining global supply chains, attracting more FDI, and implementing the Trade Facilitation Agreement, which is estimated to reduce Vietnam’s trade costs by 20%. Read more
Three pre-requisites for implementing the WTO Trade Facilitation Agreement and the TPP Chapter 5, Customs Administration and Trade Facilitation are to establish the institutional framework, which includes: (1) National Committee on Trade Facilitation, (2) Customs Cooperation (Customs Mutual Assistance Agreement), and (3) Government – Business Consultations on all laws and regulations affecting imports and exports. Below are details of the commitments in the TFA and the TPP. Read more
“I’m very pleased to receive India’s instrument of ratification from Ambassador Prasad,” WTO Director General Azevêdo said. “India is one of the most dynamic economies in the world today and has become a top recipient of foreign investment. Ratifying the WTO’s Trade Facilitation Agreement will help India further boost economic growth by reducing trade costs and supporting its integration into the global economy.” The TFA will enter into force once two-thirds of the WTO membership has formally accepted the Agreement. India is the 76th WTO member to accept the TFA, which will enter into effect when 2/3 (108) of the 162 WTO members have ratified the agreement. Read more
“The global steel industry is currently suffering from a crisis of overcapacity and the Chinese steel industry is the predominant global contributor to this problem. There is almost 700 million metric tons of excess steel capacity globally today. China’s overwhelmingly state-owned and state-supported steel industry has an overcapacity ranging from 336 to 425 million metric tons and it is expected to grow in the coming years. This situation, together with a declining steel consumption, has resulted in record levels of steel exports from China to the rest of the world in 2014 – and which are on track to exceed 100 million metric tons this year. Read more
The World Trade Organization’s Appellate Body on Tuesday rejected all of Vietnam’s appeals in its challenge of the Commerce Department’s decision to maintain anti-dumping duties on Vietnamese shrimp in three departmental reviews of an existing duty order. This means that the earlier ruling by a dispute settlement panel stands in its entirety, including the points on which it ruled against the United States, which the U.S. did not appeal. Read more
United States Trade Representative Michael Froman announced Feb 11, 2015 that the United States has pursued dispute settlement consultations with the Government of China at the World Trade Organization (WTO) concerning China’s “Demonstration Bases-Common Service Platform” export subsidy program. Under this questionable program, China seems to provide prohibited export subsidies through “Common Service Platforms” to manufacturers and producers across seven economic sectors and dozens of sub-sectors located in more than one hundred and fifty industrial clusters throughout China known as “Demonstration Bases.” This unfair Chinese program is harmful to American workers and American businesses of all sizes. Read more
Required by many free trade agreements, such as the North American Free Trade Agreement (see sample form). Current ASEAN plans are for the mechanism to be applied in 10 ASEAN member countries by 2015.
This practice has been applied by many countries under the framework of bilateral and multilateral trade agreements, especially ones in which the US is a signatory. Read more