The onset of the COVID-19 pandemic created a “unique global trade environment” in 2020 and left a a profound impact on global economic activities and international trade, the U.S. International Trade said in its annual trade overview published this week.
Following a summit in Brussels, the United States and EU countries have agreed to put $12 billion worth of retailiatory tariffs on hold for another 5 years as part of a new “cooperative framework” to resolve the long-running WTO dispute over state subsidies for aircraft manufacturers Airbus and Boeing.
The World Bank recently published an update to its Temporary Trade Barriers Database, which is the most complete accounting on the use of temporary trade barriers in the form of antidumping, countervailing, and safeguard measures across over 30 countries since the 1980s through 2019. Find out all the details.
Nearly 90 European and U.S. trade groups last week called on the European Commission President Ursula von der Leyen and U.S. President Joe Biden to permanently remove the EU-US retaliatory tariffs on products unrelated to ongoing transatlantic trade disputes.
U.S. Trade Representative Katherine Tai has outlined her vision for using trade policy to protect the planet and fight climate change with the goal of ensuring that the U.S. and its trading partners are engaged in fair competition that does not suppress environmental protection.