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In the News: EU Retaliation, Trade Growth, FTAs

Tuesday, February 13, 2018
Sandler, Travis & Rosenberg Trade Report

Boeing’s biggest trade fight could spark a U.S. confrontation with Europe

“In September 2016, after multiple procedural steps and appeals, the last ruling in the United States’ WTO case against Airbus found that the European jet maker had fallen far short of remedying the harm to Boeing from illegal subsidies. The EU immediately appealed. What’s ahead this year, by late spring, is the final decision on that appeal.” If the EU loses “the U.S. would then immediately request authorization to impose retaliatory sanctions. Boeing anticipates that the WTO will set the level of sanctions at $10 billion to $15 billion.”

[The Spokesman-Review]

Trade growth expected to sustain momentum in first quarter of 2018

“The WTO’s latest World Trade Outlook Indicator (WTOI), released on 12 February, suggests that the trade recovery of 2017 should continue, with solid trade volume growth in the first quarter of 2018. … Strong results for air freight, container shipping and export orders in particular suggest that, while the trade recovery may moderate in due course, it will likely continue in the coming months and remain above trend.”

[World Trade Organization]

Australia, Peru sign free trade agreement

“Under the deal, tariffs on 99 percent of Australian goods exported to Peru will be eliminated within five years. … Two-way trade between Australia and Peru was worth 461 million U.S. dollars in 2016, a 51.2-percent increase on the previous year.”

[Xinhua]

EU-Mercosur trade talks close with key gaps remaining

“Negotiators for the European Union and Latin American bloc Mercosur have concluded two weeks of talks in Brussels on a free trade deal with no clear breakthrough and no formal offers made. The two sides’ negotiating teams have agreed to continue discussions in Asuncion, Paraguay, in the week beginning Feb. 19.”

[Reuters]

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