MEXICO CITY, April 18 (Xinhua) -- Mexico and Spain on Wednesday agreed that the best bet for achieving growth in "turbulent times" was free trade, integration, and legal assurance, rather than statism or protectionism, said Mexican President Felipe Calderon. In a brief appearance before the media at the Presidential Palace after meeting with visiting Spanish Prime Minister Mariano Rajoy, the Mexican president said the two leaders agreed to bet on higher productivity and competitiveness in the economic fields.

Canada and Chile have signed a modernized and expanded free trade agreement (FTA), designed to deepen commercial ties between the two countries. The new agreement was inked during a visit of Canadian Prime Minister Stephen Harper to Chile. The original FTA came into force in 1997, and bilateral merchandise trade has more than tripled since then, reaching more than CAD2.7bn (USD2.7bn) last year. Canada has also been the largest source of new direct investment in Chile over the last decade.

WASHINGTON, April 17 (Xinhua) -- The United States decided Tuesday that it would not impose antidumping duties (AD) or countervailing duties (CVD) against imports of steel wheels from China. The U.S. International Trade Commission (USITC) made a final determination that "a U.S. industry is not materially injured or threatened with injury by reason of imports of certain steel wheels from China that the U.S. Commerce Department has determined are subsidized and sold in the United States at less than fair value."

According to Buenos Aires daily Clarin quoting WTO sources in Geneva, “expectations are that it will be the US that presents the “disputes settlement” process since the White House was the main sponsor of the joint statement. The process could end with a formal condemnation of Argentina opening the way for commercial reprisals”.

SANTIAGO, Chile — Prime Minister Stephen Harper secured the support Monday of Chilean President Sebastian Pinera for Canada’s bid to join talks on the Trans-Pacific Partnership (TPP). The announcement came after the two men held private meetings to discuss furthering economic ties. As part of that plan, the two leaders announced that the 15-year-old Canada-Chile Free Trade Agreement will be expanded to include a "financial services" section.

With an aim to address the global trade challenges and find long-term solutions, the World Trade Organisation (WTO) has set up a panel, consisting experts from all over the world including India. The panel will hold its first meeting next month in Geneva.The 'WTO Panel on Defining the Future of Trade' will meet regularly to discuss issues that comes in the way of rapidly-growing world, the trade body said on its website.The 12-member panel with representatives from nations like the US, Brazil, China, India and Japan will "meet on 16 May in Geneva".

India has challenged the American decision of levying the duties on their steel products in World Trade Organization (WTO), due to which WTO has issued notice to United States of America. This whole scenario has triggered a new tension between both the countries on trading issue. America has levied 300 percent duty on the import of steel pipes from India. Furthermore, these steel pipes fall in that category on which Indian Government allows the subsidy on a significant level.

If a proposed tripartite China-Japan-South Korea free trade agreement (CJKFTA) is delayed by South Korean doubts, the Japanese government has decided to try to begin, instead, immediate bilateral trade talks with China. Recent tripartite meetings between the three countries have looked to increased cooperation in many areas, including reaffirming their commitment to the early signing of an investment agreement, and to the launching of negotiations on the CJKFTA at the next Tripartite Leaders’ summit in May this year.

Canada's Minister of International Trade has been promoting the benefits of a deepened Canada-Peru trade and investment partnership, stressing that the relationship creates jobs, prosperity and positive change.

HONG KONG — The Chinese government announced on Saturday that it would allow the renminbi to vary more in value against the dollar during each day’s trading, but gave no hint that it would accept the Obama administration’s demands to allow the currency to show a longer-term trend of appreciation against the dollar.