The US and forty countries which formalized a joint statement before the World Trade Organization complaining about Argentina’s trade restrictions are considering moving a step further and begin a “disputes settlement” process which could lead to an open condemnation if the administration of President Cristina Kirchner does not lift the protectionist network.
Argentina highlighted that the administrations of Néstor Kirchner (2003/2007) and Cristina Fernández (2007/2011) were the less reported before the World Trade Organization and warned that that the US and EU are the most questioned members of the WTO regarding their trade policies.
Argentina is considering applying measures to restrict the import of Mexican cars, which could include unilaterally denouncing the Economic Complementation Agreement (ACE) 55, which regulates bilateral trade, Argentine government sources told local media, ámbito.com.
Uruguay’ Foreign Affairs Minister Luis Almagro revealed that the government of President Cristina Fernandez is fully involved in the implementation of a plan called “Argentina 2020: substitution of imports” and therefore bilateral trade negotiations that are difficult, will continue on that same path for several years.
Argentina received a barrage of criticism at the World Trade Organization on Friday where the United States, European Union, Japan and 10 other countries accused it of tying imports up in red tape. They also requested Argentina provide a detailed written explanation of why in its view “these measures and practices are consistent with WTO rules”.
Foreign Affairs minister Hector Timerman said on Tuesday “there is no country” in the world that can say Argentina is protectionist and claimed it is the G20 member that saw imports soar most between 2010 and 2011.
“As of this year Brazil will follow the US example giving a 25% margin of preference to local goods in government procurement”, said Fernando Pimentel, Minister for Development, Industry and Foreign Trade.
Measures taken by Uruguay to deter smokers have drawn a legal challenge by one of the world’s largest tobacco companies under a treaty designed to protect foreign investors, according to the Centre for Trade and Sustainable Development.
European Parliament has backed a deal that will increase EU imports of beef from the US and Canada and help European food exporters. A row over growth hormones used on North American cattle ranches led to a trade war lasting more than 20 years.
Uruguayan President José Mujica admitted trade relations with Argentina are “very complicated” because of the import restrictions implemented by the government of President Cristina Fernández and did not discard ‘mirror’ measures to counter