News

News

(Reuters) - The United States is set to slap import duties as high as 17 percent on Mexican sugar in a victory for the powerful U.S. sugar industry but a blow to U.S. candy and soft drink makers who face paying more for the sweetener. Mexican producers urged a deal to end the spat while the government hinted at retaliation, highlighting the potential for Tuesday's Department of Commerce ruling to increase tensions in a months-long trade dispute over claims cheap subsidized sugar is flooding the heavily protected U.S. market.

More

(Reuters) - Argentina will appeal a World Trade Organization ruling against its use of import restrictions, according to a senior Argentine official. On Friday, a WTO dispute panel found against Argentina in a 2012 case brought by the United States, the European Union and Japan relating to the South American country's licensing rules used to restrict imports. The panel said the rules violated WTO agreements, and urged the government of President Cristina Fernandez to bring them in line with international trade regulations.

More

Vietnam's Prime Minister Nguyen Tan Dung and President of the European Commission José Manuel Barroso expressed their wish to conclude swiftly the negotiations on the pending free trade agreement (FTA) between the European Union (EU) and Vietnam, in a joint press statement following their meeting on August 25 in Hanoi.

More

Taipei, Aug. 25 (CNA) Taiwan may need to amend around 50 laws and regulations if it hopes to join the Trans-Pacific Partnership (TPP), a regional free trade agreement that is still under negotiation, the country's new economics minister said Monday. Duh Tyzz-jiun, who assumed the post on Aug. 10, told CNA that the conclusion was based on a comprehensive review of the laws and regulations that could have a bearing on Taiwan's TPP participation.

More

New Delhi: India is looking forward to seek the cooperation of African Countries at the World Trade Organisation (WTO) on the issue of Food Security and Trade Facilitation when the body plans to re-convene next month in Geneva. This was stated by Rajeev Kher, Commerce Secretary, Ministry of Commerce and Industry at an interactive session with the heads of Regional Economic Communities (RECs) from Africa organized by the Confederation of Indian Industry (CII) in New Delhi.

More

Russia’s Agriculture Minister Nikolai Fyodorov said the country’s farmers need 636 billion rubles ($17.6 billion) of extra state support in 2015 through 2020 to boost output, mainly of pork and poultry, after Russia banned Western food imports, but experts warn that agriculture subsidies could be in violation of World Trade Organization rules.

More

SEOUL—South Korea vowed to take action against U.S. antidumping tariffs imposed on South Korean steel pipes and tubes for oil drilling, worrying about the impact on the country's $818-million annual export of the products to the U.S. The U.S. Commerce Department in July imposed tariffs of up to 16% on South Korean steel for allegedly dumping steel in the U.S. at unfair prices. The International Trade Commission, a U.S. federal body that investigates unfair trade practices, confirmed the tariffs last week.

More

BEIJING, Aug. 25 (Xinhua) -- China's Ministry of Commerce said Monday it would stop imposing anti-dumping measures on catechol imported from the European Union starting Tuesday. The ministry said it has not received an expiry review request from Chinese industries to extend the anti-dumping measures, which expire Monday, and it would not start an expiry review itself. Catechol is a chemical used in medicine and paint.

More

THE GOVERNMENT aims to finish technical consultations with member states of the Trans-Pacific Partnership (TPP) by the end of the year before it can decide whether the Philippines will participate in the regional free trade agreement, an official said.Trade Undersecretary Adrian S. Cristobal, Jr. told reporters that the government is looking to send a delegation to Japan and Canada in order to gauge the capabilities of the country in joining the TPP.

More

It appears that the U.S. has lost its case at the World Trade Organization (WTO) over its country of origin labeling law (COOL). The hard fought internal battles over COOL in the U.S. left a law on the books that many critics said was open to retaliation by the WTO. Canada and Mexico challenged the rule, which was rewritten, though concerns about WTO compliance remained. National Pork Producers Council president Howard Hill said that his organization expected the WTO ruling along with eventual retaliation by Canada and Mexico against the United States.

More