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China and the US have reached an initial deal to resolve a bruising trade war between the two countries, according to statements from both sides.

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Canada, Mexico and the United States have reached an agreement on a revised North American free trade pact. The deal, seen as a replacement for the 25-year-old NAFTA, is the result of more than two years of wrangling.

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World Trade Organization (WTO) members agreed on Tuesday to renew a 20-year moratorium on placing tariffs on digital trade for six months, allaying fears that people would have to pay duties on e-books and software for the first time.

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The White House has reached a “deal in principle” with Beijing to resolve the 17-month US-China trade war, according to a source briefed on the trade talks.

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Vietnamese enterprises’ ability to take advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) depends on their preparation, Nguyen Th? Thu Trang, director of the Vietnam Chamber of Commerce and Industry’s (VCCI) WTO and Integration Centre, told a conference on opportunities and challenges from CPTPP in Ho Chi Minh City.

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A global legal system handling trade disputes worth many millions of dollars ground to a halt Tuesday. The World Trade Organization appellate body, with just one judge left on its seven-member team, can no longer proceed on the 60 or so pending cases or accept new dispute appeals.

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U.S. disruption of the global economic order reaches a major milestone on Tuesday as the World Trade Organization (WTO) loses its ability to intervene in trade wars, threatening the future of the Geneva-based body.

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India opted out from the Regional Comprehensive Economic Partnership (RCEP) at the 3rd RCEP summit held in Bangkok in November 2019, at least until some of its core concerns are addressed. The fear of an import surge into India — particularly from China — as a result of the trade agreement was a major concern. There was difficulty negotiating rules of origin and safeguard measures, as well as service sector market access commitments. Some in India held the view that the impact of the trade pact on farming communities and small-scale industries would be adverse.

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Prime Minister Narendra Modi took the call of not joining the RCEP agreement on November 4 in Bangkok, as India's concerns were not addressed in the pact.

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Vietnam’s foreign trade turnover is likely to surpass US$500 billion in 2019, Deputy Minister of Industry and Trade Do Thang Hai said at a press conference in Hanoi on December 12.

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