Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from Latinamerica and from the BRIC club of emerging economies to take the job.
WTO Director General Pascal Lamy warned that 2013 could turn out even weaker than expected, especially because of risks from the Euro crisis as countries might try to restrict trade further in a desperate attempt to shore up domestic growth.
The United States launched on Monday a new trade case against Chinese auto and auto-parts subsidies as President Barack Obama stumped for votes in Ohio, an auto manufacturing state that could be decisive in the November presidential election.
Europe's trade chief threatened to take Russia to the World Trade Organization over a string of restrictive practices, saying Moscow needed to play by the rules now it was a member of the global body.
Argentina's trade surplus rose to 1.64 billion dollars in August, more than double the surplus in the same month a year ago achieving the twelve months target four months ahead, President Cristina Fernandez announced on Thursday.
The Brazilian government approved a 25% tariff increase on an additional list of 100 goods from outside Mercosur and at the same time announced the implementation of a monitoring scheme for those items’ prices in the domestic market to avoid unduly increases.
Argentina has filed its third trade complaint in two weeks, the World Trade Organization said on Monday, challenging US laws that it says have blocked imports of fresh lemons from north-west Argentina.
Argentina’s Industrial Union, UIA, called on the government of President Cristina Fernandez to ease the imports of inputs for manufacturing, which is suffering from shortages caused by severe controls, although at the same time was supportive of official policies to boost industry.
The Argentine ambassador to the United States, Jorge Argüello, warned that the world is infested with the “ghosts of a trade war” as he witnesses the protectionist measures applied by developed countries.
Russia's formally joined on Wednesday 22 August the World Trade Organization after having waited for 18 years. On July 21, President Vladimir Putin signed the final accession document approved by all WTO countries, a final step clearing the way for Wednesday’s formal entry.