On Monday, 15 April the Council decided to adopt the negotiating directives for trade talks with the United States on a Free Trade Agreement. Now concerns are raised regarding the US administrations departure from its commitments to combat climate change envisaged in the Paris Agreement. On the other hand, supporters of the FTA argue that due to the current state of international trade it would be important to reach such an agreement to avoid further escalation. However, when it comes to trade the EU has failed to observe its climate commitments as part of negotiating schedules, questioning its willingness to be in the forefront of the fight against climate change.
READ MORESince industrial giants from China and the US are becoming dominant players in certain sectors of global and EU markets, 19 EU governments proposed revising the EU’s antitrust rules with the aim to support and facilitate the emergence of so-called “European champions” to make the EU competitive vis-à-vis major world economies.
READ MOREIndigenous leaders called on the European Union to not grant bigger access to its agricultural market until Brazilian president Bolsonaro refrains from deforesting the Amazonian rainforest and cutting back indigenous rights. The EU has a responsibility to preserve the environment for future generations.
READ MOREClothing manufacturers are preying on the developing world for their cheap capital and labor to maintain speedy production. Fast fashion, the business model behind this, has increased demand for cotton used to produce most garments. Indian farmers provide a cheap version of the crop, a version genetically modified by seed monopolist Monsanto, which has created an inescapable dependency on the company; perpetuating bankruptcies, illnesses, and ultimately suicides.
READ MOREIn the end of September, a group of senior trade officials met in Geneva, to initiate a preparatory discussion on the future of the WTO. The debate will be further addressed on October 24-25 at ministerial level by 13 WTO members, a.k.a. the “coalition of the willing”, including the EU, Canada and Japan. Calls for reform spread as Trump’s administration stubbornly blocked the Dispute Settlement System for years, reaching a breaking point last month.
READ MOREPresident Donald Trump is consistently trying to wear out the multilateral trading system in order to capitalize on US position of economic power against its trading partners. Does it sound very mercantilist? It does, and it is.
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