Tag: Trade

US China tariffs ‘inconsistent’ with trade rules says WTO

Image copyright Getty Images The World Trade Organization has ruled that tariffs the US imposed on Chinese goods in 2018, triggering a trade war, were “inconsistent” with international trade rules. The WTO said the US did not provide evidence that its claims of China’s unfair technology theft and state aid justified the border taxes. Chinese officials welcomed the ruling. But… Read more →

UK signs first major post-Brexit trade deal with Japan

Image caption UK Trade Secretary Liz Truss called the deal “historic” The UK has struck its first major post-Brexit trade deal after signing an agreement in principle with Japan which aims to boost trade by about £15bn. International Trade Secretary Liz Truss said it was an “historic moment”. She said it would bring “new wins” for British businesses in manufacturing,… Read more →

Trade talks: Why chicken, cheese, and cod are a tricky menu

Image copyright Getty Images Image caption WTO tariffs on dairy products average more than 35% Coronavirus permitting, there’ll be fireworks and parties to mark the arrival of 2021. But as the clock strikes midnight, it’ll also mark the end of the Brexit transition period. Trading relationships that have been in place for years will go up in smoke. Civil servants… Read more →

World Trade Organization: How an African head could make a difference

media captionThe World Trade Organization is currently looking for a new director-general and three of the candidates are African. With three of the eight candidates to become the next leader of the World Trade Organization (WTO) coming from Africa, BBC Africa business editor Zawadi Mudibo looks at what difference having one of them at the helm would make for the… Read more →

Chinese chip giant SMIC ‘in shock’ after US trade ban threat

By Leo KelionTechnology desk editor image copyrightGetty Images/SMIC China’s largest chip manufacturer’s stock sank after the US revealed it could be its next trade ban target. Semiconductor Manufacturing International Corporation (SMIC) said it was “in complete shock and perplexity” after the Pentagon revealed it had proposed the firm be added to a government blacklist. This would restrict suppliers from providing… Read more →

US wins end of EU lobster tariffs in mini trade deal

Image copyright Reuters The European Union has agreed to eliminate tariffs on US lobster, a key priority of President Donald Trump. In exchange, the US will halve import taxes on some $160m (£122m) worth of European goods, including cigarette lighters and certain crystal glassware. The agreement is the first tariff reduction the two economic heavyweights have agreed in more than… Read more →