Agreement reached to put EU-U.S. trade on a more stable footing
“With the introduction of the sunset clause and a strong suspension clause Parliament has substantially improved the Commission proposal. The agreement also foresees stronger review and safeguard mechanisms, and clearer and regular democratic oversight.”
[European Parliament]
USTR to host G20 trade ministerial
“At the G20 Trade Ministerial this fall, USTR will lead discussions with the G20 Trade Ministers on a wide array of issues, including ending forced labor, updating the Most-Favored Nation (MFN) Principle, denouncing weaponization of trade in food, and addressing structural excess capacity and production.”
[USTR]
UK announces trade deal with six Gulf states
“Tariffs will be removed on exports such as food, medical equipment and advanced manufacturing under a free trade agreement, while the deal includes commitments on the free flow of data. Once the agreement is fully implemented, an estimated £580 million in duties a year will be removed based on current UK exports.”
[The Independent]
Indonesia’s new export rules may disrupt global palm oil trade
“President Prabowo Subianto said Wednesday that exports of palm oil, coal and ferroalloys will be required to pass through a state agency as the government moves to strengthen control over natural resources and increase state revenue. Indonesia accounts for more than half of global palm oil shipments. Its past export-restricting moves to prioritise local sales and boost supplies for biodiesel have lifted prices of palm oil as well as rival edible oils like soyoil and sunflower oil.”
[StratNews Global]
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