Trumps confirms TPP withdrawal – but silent on renegotiating NAFTA or branding China a “currency manipulator”
US Congressional committee claims China “violates the spirit and the letter of its international trade obligations”
A US Congressional committee prepared a report before the November 8 elections savagely attacking China’s good faith as a trading partner.
The developed world depends almost entirely on imports from poorer countries for its clothing. The world’s biggest apparel importer looks certain to transform its attitude to importing that apparel
The US Administration admitted on November 11 it no longer expected Congressional ratification of the Trans Pacific Partnership (TPP) during the Obama Presidency. President-elect Trump has already announced abandoning the deal will be among his first acts after his January 20 inauguration.
Korea and China initialled a Free Trade Agreement on February 25, the Korean Ministry of Trade said, adding “The two countries’ governments have agreed to work for official signing…within the first half of 2015.”
Three trade blocs covering East and Southern Africa agreed on October 25 to a common free trade area, probably called the Grand Free Trade Area, to be officially announced in mid-December. It will include 26 states in Eastern and Southern Africa
EU won’t postpone its denying Thailand GSP privileges, or progressing a Free Trade Agreement, at least as long a it lacks a democratic government. But Cambodian garment makers doubt they’ll see any more business as a result.
West suspects India, South Africa, Bolivia, Cuba, Venezuela, and Zimbabwe of undermining Trade Facilitation initiative
Most major traders “deplore” their behaviour, while EU and US keep quiet, while struggling to see why India and South Africa are siding with the near-pariahs.
Mexico filed with the World Trade Organization on October 15 a dispute settlement case against a wide variety of measures allegedly taken by China to subsidise garment production, and their consequent undermining of Mexican exports to the US. Described by one trade diplomat as "potentially the mother of all trade complaints", the case could impact all China’s clothing and textile exports to all destinations. The EU, Australia and Guatemala have announced their wish to be associated with Mexico in the complaint.
A US Congress report suggests that the proposed TPP might undermine US fabric and yarn manufacture, whatever its rules of origin. US textile makers have also attacked then proposal from other viewpoints
The European Parliament’s international trade committee gave its green light for free-trade talks with Japan on October 25, pointing to the huge gains for jobs and growth offered by deeper ties with Japan, a strategic partner of the EU. But negotiations should be suspended if Japan fails to remove barriers in key sectors including cars, say MEPs. The committee also argued that talks should stop if Japan proved intransigent over a wide range of other non-tariff barriers
The much-delayed negotiations for the proposed free trade agreement between India and the EU are unlikely to conclude this year, said the Indo-German Chamber of Commerce in mid-October.
The likelihood of imminent withdrawal of US and EU sanctions against Burma decreased dramatically in late October as over 100 people – mostly Rohingya Muslims – were killed in renewed ethnic violence in five days, and over 100,000 remain forced out of their homes .
The EU and US have run into a quandary about further relaxations of trade sanctions against Burma, as a September 19 news report seems to show the country is not meeting the conditions the US and UK have laid down for their lifting – but the Burmese opposition leader argued publicly on September 18 they should be lifted. The conflict occurs as Burmese garment makers have started claiming in public they are in any case unable to meet any extra demand the lifting of sanctions might create.
The U.S.-Colombia Free Trade Agreement entered into force May 15, generating self-congratulation from the US Administration and fierce, if diplomatic, criticism from the American Apparel and Footwear Association for "the decline of the Colombian industry brought about by the disruptive nature of US trade policies" On May 31, EU trade ministers formally approved a free trade agreement with Colombia and Peru, described by German Chancellor Angela Merkel as "a good sign to promote growth". If ratified by the EU Parliament in the early autumn, it will have no impact at all on garment imports from either country.