International Trade Today is a Warren News publication.
Subscriber Login
International Sources
to
Refine Category Search
Clear Terms
US Critical of Self-Designation of Developing Country Status at WTO
January 18, 2019 by Mara Lee|International Sources

The continuing ability of advanced economies like South Korea and Israel, and export powerhouses like China to call themselves developing countries in the World Trade Organization is hobbling negotiations, the U.S. delegation argued in a 45-page communication it distributed Jan. 16. "The WTO remains stuck in a simplistic and clearly outdated construct of 'North-South' division, developed and developing countries," the U.S. wrote. "The perpetuation of this construct has severely damaged the negotiating arm of the WTO by making every negotiation a negotiation about setting high standards for a few, and allowing vast flexibilities or exemptions for the many."

Turkey Blocks Panel on Its Retaliation for US Metals Tariffs
January 14, 2019 by Mara Lee|International Sources

Turkey, in blocking the panel, said the U.S. request for a panel to judge its retaliatory tariffs is unfair because the U.S. took unwarranted and unjustified action to put 25 percent tariffs on imported steel and 10 percent tariffs on aluminum. Turkey -- along with many other countries -- sees the tariffs as a safeguard measure, not a national security matter. Unlike for other countries, the U.S. later, in August 2018, increased tariffs on Turkish steel to 50 percent (see 1808120001). Turkey will not be able to block the request at the next World Trade Organization Dispute Settlement Body meeting, so it will go forward, and will be the sixth panel on retaliatory tariffs. The European Union, during the Jan. 11 DSB meeting, said that Turkey is standing up to U.S. abuse of the national security exception in the General Agreement on Tariffs and Trade, according to a summary provided by a Geneva trade official.