MercoPress. South Atlantic News Agency
WTO rules against Argentina in trade dispute with world powers
The three trade powers argued that Argentina did not grant licenses to importers automatically as required by WTO rules The World Trade Organization (WTO) dispute panel ruled on Friday against Argentina in a 2012 case brought by the United States, European Union and Japan against Argentine import licensing rules used to restrict imports.
The three trade powers argued that Argentina did not grant licenses to importers automatically as required by WTO rules, allowing it to shield its vulnerable economy. The case was part of a tit-for-tat trade war in which the government seized control of oil firm YPF from its Spanish parent Repsol.
The panel of three independent arbitrators found that Argentina's licensing rules violated WTO rules, and urged the government of President Cristina Fernandez to bring them in line with international trade rules.
Argentina may appeal the panel's ruling to the WTO.
In a statement, the office of the United States Trade Representative said the ruling was “a major victory for American workers, manufacturers and farmers.”
“Argentina’s protectionist measures impact a broad segment of US exports, potentially affecting billions of dollars in US exports each year that support high-quality, middle class American jobs,” the statement said.
Top Comments
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Read all comments“Argentina may appeal the panel's ruling to the WTO.”
Aug 22nd, 2014 - 11:50 pm 0Or take the panel's ruling to the ICJ-but not their batty claim on the Falklands.
Incompetent really doesn't convey the abilities of the Argentine government.
Aug 22nd, 2014 - 11:50 pm 0@2
Aug 23rd, 2014 - 12:15 am 0And what would you have done to protect Argentina from unfair trading practices of the EU, USA, and Japan.
I mean the EU complaining about protecionismo is a farce. The USA engages in massive “pre-retail protectionism”, by subsidizing their lousy farmers with 10s of billions. Japan complaining about proteccionism is the height of Pecksniffianism, they allow almost no imports and their immigration policies are appallingly racist.
It's hard to be competent when the big powers just cheat and lie and get away with it and when you one up them, they start crying and moaning, and pay the WTO panel nice stashes of cash for a favorable ruling.
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