Economy

• Wednesday, December 13th 2017 - 08:29 UTC

  US, EU and Japan target China on market distorting trade practices and policies

  

  The United States, European Union and Japan vowed on Tuesday to work together to fight market-distorting trade practices and policies that have fueled excess production capacity, naming several key features of China’s economic system.

• Wednesday, December 13th 2017 - 08:14 UTC

  Russia and EU ready to discuss mutual lifting of trade restrictions, says Moscow

  

  Russian Economy Development Minister Maxim Oreshkin said after the meeting with EU Trade Commissioner Cecilia Malmstrom on the sidelines of the World Trade Organization (WTO) ministerial conference in Argentina that Russia and the European Union have agreed to discuss the mutual lifting of trade restrictions.

• Wednesday, December 13th 2017 - 08:03 UTC

  Mercosur/EU ever so close but the accord has yet to be grasped, maybe 2018

  

  The talks between the European Union and Mercosur will likely extend into next year after European negotiators said they needed more time to respond to improved offers, a source from Mercosur negotiators said on Tuesday.

• Tuesday, December 12th 2017 - 23:55 UTC

  EC warns Brexit will affect most airline services to, from UK

  

  The European Commission stressed Tuesday that licenses to operate flights between Britain and Europe will cease to be valid. Other major changes are also foreseen since open-skies agreements made with the United States and other countries via the European Union will not be forceable post Brexit.

• Tuesday, December 12th 2017 - 10:37 UTC

  US questions workings and rules of WTO which favor “litigation over negotiations”

  

  The United States President Donald Trump’s trade chief said on Monday that the World Trade Organization (WTO) is losing its focus on trade negotiations in favor of litigation, and was going too easy on wealthier developing countries such as China.

• Tuesday, December 12th 2017 - 10:34 UTC

  Mercosur/EU hurdles remain, and a deal announcement might not be reached this week

  

  Free-trade talks between the European Union and Mercosur still face hurdles over beef and ethanol, and an expected deal announcement this week might not happen, officials involved in negotiations admitted on Monday. Mercosur diplomats on the sidelines of the World Trade Organization ministerial meeting in Buenos Aires said EU officials had not presented improved offers on EU tariff-free imports for beef and ethanol as promised.

• Tuesday, December 12th 2017 - 09:02 UTC

  Irish and French argue “a win for Mercosur in agriculture is a loss for EU farmers”

  

  Irish MEP and vice-president of the European Parliament Mairead McGuinness is representing the European Parliament at the ministerial assembly on the World Trade Organization (WTO) in Argentina, which began on Sunday, and has warned that rushing towards a Mercosur/European Union deal would jeopardize the EU beef industry.

• Tuesday, December 12th 2017 - 08:51 UTC

  Welsh Labour MP calls for a second referendum on final Brexit deal

  

  A Welsh Labour MP is calling for a second referendum on the final Brexit deal because the “British people should have the last word”. Geraint Davies' backbench bill offering a vote on whether to accept the deal negotiated between the UK and the EU was published in detail on Monday.

• Tuesday, December 12th 2017 - 08:33 UTC

  Scottish Brexit minister calls for “basic answers” to the UK/EU deal

  

  Scottish Brexit minister Mike Russell has called for “basic answers” about the deal struck with European leaders ahead of talks with UK ministers. Mr Russell is in London for a summit with members of the UK government and the other devolved administrations.

• Tuesday, December 12th 2017 - 08:13 UTC

  Peruvian president admits working for Odebrecht, as financial advisor or irrigation project

  

  Peruvian President Pedro Pablo Kuczynski acknowledged that he worked as a financial adviser for an irrigation project owned by the Brazilian builder Odebrecht, contradicting his previous denials of having any links to the company. Odebrecht is at the center of Latin America’s biggest graft scandal and has admitted to paying about US$ 30 million in bribes to secure contracts in Peru over a decade.