. | . |
EU parliament toughens law to limit cheap Chinese imports by Staff Writers Strasbourg, France (AFP) Nov 15, 2017 The European Parliament overwhelmingly passed a law Wednesday that gives the EU far more legal freedom to tighten trade barriers against cheap imports from China. The law, several years in the making, introduces a new method for drawing up anti-dumping duties over imports from third countries that demonstrate significant distortions to the global market. It also allows authorities to take into account environmental and workplace standards when setting import duties. This law "will ensure that European industry remains well-equipped to deal with the unfair competition," EU Trade Commissioner Cecilia Malmstroem told MEPs in Strasbourg, France, ahead of the vote. China's Ministry of Commerce said prior to the vote that the EU's new anti-dumping measures would not be in compliance with World Trade Organization (WTO) rules. The new measures are intended to offset the consequences of granting China so-called market economy status at the WTO that will make it more difficult to prove illegal trade practices by Beijing. The topic is so sensitive that China shocked the EU at a summit in June by refusing to endorse a joint statement on climate change out of dissatisfaction on the issue. When China joined the WTO in 2001, it was written into the terms of the deal that member states could treat it as a non-market economy for 15 years. Under this regime, the EU and other WTO powers retained powers to unilaterally establish fast and tough anti-dumping rules without infringing WTO rules. The deadline passed late last year. "This is not about giving market economy status to China, it never has been about this," insisted Malmstroem. "China is not a market economy. If it were, it would be much easier," she added.
Paris (AFP) Nov 13, 2017 A European financial markets watchdog warned Monday of the risks to investors of putting money in Initial Coin Offerings (ICOs), and to firms of stepping over the line of legality. The Paris-based European Securities and Markets Authority (ESMA), an independent EU body, said it had observed "rapid growth" in ICOs and "is concerned that investors may be unaware of the high risks that they are ... read more Related Links Global Trade News
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |