EU, Mercosur strike trade pact, defying protectionist wave
“In terms of tariff cuts, the trade deal could be the EU’s most lucrative to date, with about 4 billion euros ($4.55 billion) of duties saved on exports, four times more than its deal with Japan. Europe has its eyes on greater access for manufactured goods, notably cars, which face tariffs of 35%. It wants its firms freed to compete for public tenders, and to sell more wine and cheese. … Brazil said the pact would remove import tariffs on several farm products, such as orange juice, instant coffee and fruit. It will also get a new 99,000-tonne quota of beef at a 7.5% tariff, phased in over five years, and tariff-free 180,000-tonne quotas each of sugar and poultry.”
[Reuters]
Vietnam, EU sign landmark free trade deal
“It will eliminate 99% of tariffs, although some will be cut over a 10-year period and other goods, notably agricultural products, will be limited by quotas. … The agreement with the EU is also expected to open up public procurement and services markets, such as for the postal, banking and maritime sectors.”
[Reuters]
WTO rules for India in dispute with U.S. on solar-panel incentives
“The WTO supported most of India’s allegations that the US imposed illegal domestic content requirements that favored domestic products in the renewable energy sector, according to a ruling published on the Geneva-based organization’s website Thursday.”
[Business Standard]