The World Trade Organization on Thursday rejected Argentina’s bid to overturn a ruling in favour of the United States, the European Union and Japan against the Buenos Aires licensing rules used to restrict imports.
Argentina’s controversial new import restrictions came into effect on Wednesday as part of the legislation on the trading sector which gives the government bureaucracy more powers to control and restrict imports.
Argentina's moves to restrict imports and prop up its shrinking trade surplus as well as European farmers resistance to ‘cheap’ meat imports could hurt talks for a trade deal between Mercosur and the European Union, an EU official said on Wednesday.