Auto talks mark potential NAFTA breakthrough
“Canada’s ambassador to the U.S., David MacNaughton, suggested his newfound optimism was based on two developments in recent days: progress on the top U.S. priority of auto-parts rules, as well as a more general thawing of the frosty tone in earlier talks. This comes as the United States appears increasingly keen on securing a quick agreement, with an upcoming round in Washington expected to feature a final push to obtain a deal before election campaigns in Mexico and in the U.S. Congress punt the process into 2019.”
China partially wins WTO case over Obama-era U.S. tariffs
“The United States did not fully comply with a 2014 ruling against its anti-subsidy tariffs on a range of Chinese products, a World Trade Organization compliance panel said in a ruling on Wednesday that either side can appeal within 20 days. … The WTO panel agreed that the United States had not correctly used third country prices to assess the subsidies, but supported the U.S. assertion that exporters were getting subsidies from Chinese ‘public bodies,’ despite Beijing’s assertions to the contrary.”
[The Globe and Mail]
African nations sign largest free trade agreement since WTO
“The deal creates a continental market of 1.2 billion people, with a combined gross domestic product of more than $3.4 trillion. … The aim is to have agreement, signed by 44 of the African Union’s 55 member states, enter into force by the end of this year, said the chair of the AU Commission, Moussa Faki Mahamat. States now must ratify the deal, but the number of countries needed to put the agreement into force has not yet been agreed upon.”
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