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TRADE WARS
EU report laments lack of free trade
by Daniel J. Graeber
Brussels (UPI) Nov 17, 2014


disclaimer: image is for illustration purposes only

The European Union's trade commissioner said Monday she regretted global trade was restricted, where road blocks exist even in the U.S. market.

Commissioner Cecilia Malmstrom said trade restrictions remain strong among many of the bloc's commercial partners.

"I regret to see that many countries still consider protectionism a valid policy tool," she said in a statement Monday.

With the European economy struggling to emerge from the global economic recession, Malmstrom said such restrictions were fueling uncertainty in the world economy.

In an annual report, the commission said the number of export restrictions is problematic in an economy where connections are strong, particularly in the trade of natural resources.

"The tendency to restrict participation of foreign companies in public tenders remains strong, in particular in the United States," the report said.

The European economy is looking to diversify an economy that depends in part on Russian natural resources. U.S. allies have said sending natural gas from shale could help break the Russian grip on the European economy.

Companies looking to send shale gas from the United State in the form of liquefied natural gas need a special permit to do so from the federal government if they seek to target economies without a free-trade agreement.

There are no free-trade agreements in place between the United States and European countries. U.S. and European leaders said in a joint statement they were committed to the Transatlantic Trade and Investment Partnership that would clear some of the energy trade hurdles.

"We remain committed ... to promote stronger, sustainable and balanced growth, to support the creation of more jobs on both sides of the Atlantic and to increase our international competitiveness," Saturday's statement read.

A policy paper obtained in June by the Washington Post showed the EU wanted a commitment to free export of crude oil and natural gas from the United States as part of the TTIP.

"Such a specific commitment would, in the EU's view, not require that the U.S. amend its existing legislation on oil and gas," the EU said.

In February, members of an EU civil liberties committee passed a measure by 33 votes to 7, with 17 abstentions, that said the trade deal with the United States was in serious risk because of spying allegations leaked to the media last year by Edward Snowden, a former contractor for the National Security Agency.


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TRADE WARS
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Sydney (AFP) Nov 17, 2014
Australia and China sealed a landmark trade deal hailed Monday as a "game-changer", abolishing tariffs in the lucrative resources and agricultural sectors as Canberra confronts a painful downturn in mining. The pact, signed during a visit by Chinese President Xi Jinping, was lauded by Australian Prime Minister Tony Abbott as the first Beijing had reached with a major economy and "the most co ... read more


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