If investments stall because of tariffs between the U.S. and China, the World Bank projects that the rate of growth will fall over all over the world. If the impacts are largely concentrated between the two global giants, China will be hurt worse than the U.S., and other countries will benefit, said Caroline Freund, the director of trade at the World Bank. Freund, a Chinese trade economist and a domestic China expert, spoke about the trade war Oct. 26 at a George Washington University conference on U.S.-China relations.
The government of Canada recently issued the following trade-related notices as of Oct. 26 (some may also be given separate headlines):
The government of Canada recently issued the following trade-related notices as of Oct. 24 (some may also be given separate headlines):
PALM SPRINGS, Calif. -- Upcoming changes to Canadian border processes will be a “game changer” for the clearance process, Kim Campbell of Mkmarin Trade Services said on Oct. 20. The Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is set to be implemented by the end of 2020, allowing e-commerce customers to fill out their own customs declarations and eliminating the entry process for commercial importers, she said, speaking at the Western Cargo Conference. Other initiatives will allow truck cargo to cross the border without stopping, through the use of radio frequency ID tags and facial recognition software, she said.
The World Customs Organization issued the following release on commercial trade and related matters:
The World Customs Organization issued the following release on commercial trade and related matters:
The European Union recently issued the following trade-related release (notices of most significance will be given separate headlines):
The government of Canada recently issued the following trade-related notices as of Oct. 22 (some may also be given separate headlines):
The U.S. and other countries that export scrap metals, plastics, paper or cardboard to China complained about new restrictions on waste materials at the World Trade Organization's Committee on Import Licensing. At the committee meeting, which was described by a Geneva trade official, the U.S. asked for the topic to be broached, and the European Union, Canada, Korea and Australia joined in, according to the official. The U.S. told China that its changes have led to recyclable material being buried in U.S. landfills, and said there could be a heightened threat of increased marine litter if the global recycling chain remains disrupted. The U.S. also said Chinese manufacturers have been forced to use virgin materials because so much less recyclable material is being accepted (see 1805040054).
The World Trade Organization's Dispute Settlement Body committee, which will meet Oct. 29, will consider multiple requests for panels on the legality of the U.S. steel and aluminum tariffs, and on the legality of the safeguard tariffs that others imposed in reaction to the Section 232 action. The U.S. notified the WTO that its consultations with the European Union, Mexico, China and Canada on their safeguards were unsuccessful, and it asks for a panel in each of those matters. Canada, Mexico, Norway, Russia, the EU and China all asked for a panel on the metals tariffs.