EC Proposes Revamped Rules to Enforce EU Rights under International Trade Agreements
The European Commission proposed new rules to deal with EU trade responses in cases of illegal trade measures in other countries. Ensuring that its trading partners respect agreed rules is key to making international trade agreements work for the European…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
economy, it said. Under the plan, the EC will be authorized to take executive action when EU trade interests are at stake rather than having to react on a case-by-case basis, it said. European trade responses will be made more streamlined and efficient to encourage offending nations to remove their illegal measures, it said. In cases of last resort, the EU will be able to impose trade sanctions. It could also act to compensate for import restrictions set on EU products in exceptional situations, or react to situations where a WTO member country changes its trade regime in a way that hurts EU trade without adequate compensation. The proposals need approval from the European Parliament and Council of Ministers.