Europe is facing enormous challenges. The wide-reaching changes in international relations require new responses in almost all fields of policy. Only a strong EU can assume an assertive position on the international stage. Strengthening the European Union must be the guiding principle for policy-makers.
US Government is putting the World Trade System at risk by blocking the WTO
- The BDI warns against a targeted weakening of the World Trade Organization. Washington is undermining international trade law. Challenges relating to global trade can only be resolved multilaterally.
- Foreign direct investment into the UK is down by 90 percent. London should agree to status quo transition from March 2019. First results from BDI Task Force Brexit – duty and quota free trade as minimum requirement.
- German companies are unhappy about high market access barriers in China. Lower restrictions could appease critics in Europe, BDI President Dieter Kempf declared ahead of the Chinese Communist Party Congress.
WTO Ministerial Conference Delivers only Mini Results
- Trade rules and the dispute settlement system of the World Trade Organization (WTO) remain indispensable. Although even low expectations regarding the eleventh Ministerial Conference of the WTO (MC11) were disappointed, members should look ahead. Now it's key to shape a modern negotiation agenda.
U.S. President Trump decided to impose tariffs on steel and aluminum imports. An investigation by the U.S. Department of Commerce had come to the conclusion that these imports threatened the national security. The tariffs came into effect in late March 2018. The EU was exempted until the end of May 2018. The EU is also currently conducting a safeguard investigation for steel and requested consultations with the United States at the WTO. These are steps in the right direction.