• China-US trade talks progress, markets rally

      China-US trade talks progress, markets rally

      Just over a week after President Donald Trump and Chinese President Xi Jinping reached a temporary truce at the G20 summit, the world's two largest economies finally began showing signs of progress in talks to end their trade war after months of stonewalling.

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    • US, China agree trade war ceasefire at G20 summit

      US, China agree trade war ceasefire at G20 summit

      China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between US President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on 1 January. The announcements came after Trump and Xi sat down with their aides for a working dinner at the end of a two-day gathering of world leaders in Buenos Aires, their dispute having unnerved global financial markets and weighed on the world economy.

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    • Trump, China's Xi poised for high-stakes talks at G20 summit

      Trump, China's Xi poised for high-stakes talks at G20 summit

      US President Donald Trump and Chinese President Xi Jinping will wrap up a global summit on Saturday with high-stakes talks expected to determine whether they can begin defusing a damaging trade war between the world’s two biggest economies. With the United States and China locked in growing disputes over commerce and security that have raised questions about the future of their relationship, Trump and Xi are due to sit down for dinner at the end of a two-day gathering of world leaders in Buenos Aires. With the trade war weighing on the global economy, world financial markets are hanging on every development and will be watching closely to see if any compromise can be struck between Trump and Xi.

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    • EU, partners propose needed WTO reform

      EU, partners propose needed WTO reform

      The EU together with other members of the World Trade Organisation (WTO) - Australia, Canada, China, Iceland, India, Korea, Mexico, New Zealand, Norway, Singapore and Switzerland – unveiled last Tuesday a proposal for concrete changes to overcome the current deadlock in the WTO Appellate Body, the EU press service reported. The proposals will be presented to the entire membership at the meeting of the WTO General Council on 12 December.

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    • Trade supports 36m jobs across the EU

      Trade supports 36m jobs across the EU

      Two new studies published on Tuesday by the European Commission highlight the increasing importance of EU exports for job opportunities in Europe and beyond by stating that exports to the world nowadays support 36m jobs across Europe - around two thirds more than in 2000. In addition, these jobs are on average 12% better paid than jobs in the rest of the economy and generate €2.3 trillion of value added in the bloc.

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    • EU open to new trade talks with US

      EU open to new trade talks with US

      EU’s Trade Commissioner Cecilia Malmstrom said on Wednesday that the bloc is still open to talks with the United States on industrial goods tariffs, but Washington had not yet shown any serious interest.

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    • US and Canada reach trade deal

      US and Canada reach trade deal

      The US and Canada have reportedly agreed on a trade deal that would save the North American Free Trade Agreement as a trilateral bloc after more than a year of tortuous negotiations. According to media reports Canada agreed late Sunday, just hours before a midnight deadline, to settle differences, with both sides making concessions and seal the deal, rescuing a three-country, $1.2trn open-trade zone that had been about to collapse after nearly a quarter century. The new deal is going to be known as the US-Mexico-Canada Agreement or USMCA. 

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    • EU, Japan, US co-sponsor WTO reform

      EU, Japan, US co-sponsor WTO reform

      Trade Commissioner Cecilia Malmstrom, US Trade Representative Robert Lighthizer and Japanese Economy Minister Hiroshige Seko met in New York on 25 September to discuss WTO reform, jointly denouncing trade-distortive practices long-pinned on China. In a statement issued after the trilateral summit, they said they share a common view on the need for the reform of the organisation and, with respect to its monitoring and surveillance function, agreed as a first step to co-sponsor it as part of an effort to prevent unnamed “third countries” to engage in “severe overcapacity” and create unfair competitive conditions, which threatens technological development and ultimately distorts global trade.

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    • China cuts import tariffs, releases White paper defending its positions

      China cuts import tariffs, releases White paper defending its positions

      China on 26 September unveiled plans to cut tariffs for products including machinery, electrical equipment and textile products beginning on 1 November, as the country braces for an escalating trade war with the United States. The cuts on over fifteen hundred industrial products are expected to lower costs for consumers and companies by about 60bn yuan this year, the state cabinet said in a meeting chaired by Premier Li Keqiang, according to the state radio. The overall tariff level will be reduced to 7.5% in 2018 from 9.8% in 2017 as a result, the state cabinet said. Beijing has pledged to take steps to increase imports this year amid rising tension with some of its biggest trade partners, such as the United States.

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