Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 335

Agreement on stronger EU countermeasures in trade disputes

Posted by fidest press agency su domenica, 1 novembre 2020

Parliament and Council agreed Wednesday in ways to bolster the EU’s ability to use countermeasures in trade disputes. The update of the 2014 enforcement regulation was necessary to allow the EU to use countermeasures after it obtained a favourable ruling from a dispute settlement panel of the World Trade Organisation (WTO) while the other party appeals into the void (with the Appellate Body of the WTO currently defunct due to blockage). The EU could similarly retaliate with customs duties and quotas when its partners disregard bilateral or regional trade agreements and at the same time, shun the arbitration mechanisms.Parliament negotiators agreed with the goals of the proposal and negotiated the following changes: • the scope of the regulation will now cover not only goods but also services and certain trade-related aspects of intellectual property rights; • the institutions will revisit a further extension in the field of intellectual property rights in one year after application; • the Commission is going to examine breaches in the field of sustainable trade with the same attention as breaches of market access; and • the Commission committed to draft a law on a new instrument to dissuade or counter “coercive” actions of a third country that violates international law, in 2021. Council pledged to work on the proposal.

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