FTAA will lead to EU-like system
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Promoting free trade does not have to be complex; it is best achieved by limiting government intervention through tariffs and subsidies.
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BRUSSELS, May 25 (IPS) - The European Union and West Africa could scarcely  be more different in terms of wealth, yet a pending trade  agreement risks making the disparity even greater.
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The EU adopts plans to force European energy markets to be open to more competition.
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"Europe can once again look forward to a period of strength and confidence."  German Chancellor Angela Merkel hailed here on Wednesday the landmark treaty agreed by EU leaders last week, saying it shows the way forward for the 27-nation bloc. via China View
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Europe's food and drink industry could face new regulations if it does not try harder to tackle obesity.
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A European gateway to the Middle East. A boost to the European Union's chances of matching American clout.
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The European Union said Wednesday it has selected U.S. products to punish with tariffs next year if Washington doesn't quickly repeal an antidumping law ruled illegal by the World Trade Organization.
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The World Trade Organisation said Monday it would rule on a dispute between the European Union and the United States over the way Washington assesses anti-dumping duties.
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The U.S., the European Union and Canada plan to ask the World Trade Organization to set up a panel to investigate.
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The European Commission (EC), the executive arm of the European Union (EU), said on Friday the WTO has authorized the EU and six other countries to impose retaliatory measures against the United States in a trade dispute.
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The step could avert a trade war with the U.S. and the European Union over a new influx of low-cost Chinese garments.
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The European Union&#39;s top trade official says he&#39;ll move to lift millions of dollars in punitive tariffs on US goods. EU trade commissioner Pascal Lamy says he&#39;ll act because Congress
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(InfoWorld) - A U.S. government official played down reports that the U.S. is considering taking the European Union to the World Trade Organization (WTO) over the imposition of new duties on high-tech imports such as flat-screen monitors and digital set-top boxes. âThe U.S. has expressed its concern about the E.U. proposal to apply duties to sophisticated products covered by the Information Technology Agreement (ITA),â the official, based at the U.S. embassy in Brussels, said in a telephone interview Friday. He said taking the issue to the WTO, the worldâs trade arbitrator based in Geneva, is still a possibility. âOur options are open,â he said, but added that many concerns about trade matters do not end up as WTO cases. The ITA was signed by most countries producing IT products in 1997. It sets tariffs on goods designed for businesses at zero in order to help spur economic growth. However, as the price of items such as flat-screen monitors has fallen in recent years, they are increasingly being bought by consumers. The E.U. has started to reclassify some equipment as consumer goods, which require import tariffs of around 10 percent. Applying a tariff to new types of goods could potentially lead to higher prices, unless the vendor or manufacturer shoulders the additional cost. The European Commission, the E.U.'s representative body on trade matters, defended its actions. The E.U. classifies products on the basis of "objective criteria," Peter Power, the Commissionâs trade spokesman in a statement. "U.S. claims of E.U. re-classifying products in violation of ITA commitments are unfounded,â he said, adding that the EU "respects the spirit of the ITA" when classifying new technologies. TheÂ E.U. drew sharp criticism from the U.S.Â this week over its decision toÂ dismiss Microsoft's appealÂ of the European Commission's 2004 antitrust ruling against it. The U.S. government official, who did not wish to be identified, denied Friday that the U.S. concerns over tariffs are a reaction to that decision. "This is a long-standing issue for the U.S. government. We've been making these comments about the ITA since 2006," the official said.
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The country is split over a possible permanent trade deal with the US.
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Members of the Association of Southeast Asian Nations (ASEAN) agreed on Sunday to start implementing a planned free trade area (FTA) with economic powerhouse India in January next year.
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Business & money: European commission proposals will create a UK-style market in energy across the entire EU.
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The European Union said Wednesday it will decide soon whether to impose trade sanctions on the United States after receiving authorization to do so from the World Trade Organization in a dispute over U.S. antidumping legislation.