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Archive for the ‘United States’ Category

International Trade Council welcomes US-EU agreement to eliminate lobster tariffs

Europe, News, Trade Agreements, United States

August 21, 2020

The International Trade Council (ITC) welcomes the news that the European Union has agreed to eliminate tariffs on US lobster, a key priority of President Donald Trump, in exchange for the US halving import taxes on some $160m worth of European goods, including cigarette lighters and certain crystal glassware. The agreement is the first tariff […]

International Trade Council calls for swift resolution to EU-US data transfer dispute

Digital Trade, Europe, News, United States

July 16, 2020

The International Trade Council (ITC) is concerned by the decision of the European Court of Justice (ECJ) to strike down the EU-US Privacy Shield, which governed the transfer of EU citizens’ data to the United States. The ITC recognizes the potential negative consequences of this decision on transatlantic trade worth $7.1 trillion (£5.6tn), and urges […]

Trump Signs US Mexico Canada Agreement (USMCA)

Mexico, News, Trade Agreements, United States

January 29, 2020

The International Trade Council announces that US President Donald Trump has officially signed the US Mexico Canada Agreement (USMCA), which is set to replace the 1994 North American Free Trade Agreement (NAFTA). This new trade pact brings Trump’s campaign promise to replace the existing deal between the three countries closer to reality. The USMCA aims […]

US and China Sign Deal Hopes to Ease Trade War

China, News, Trade Relations, United States

January 15, 2020

The International Trade Council announces that the United States and China have signed an agreement to ease the trade war that has impacted global markets and the world economy. US President Donald Trump called the pact “transformative” for the US economy, while Chinese leaders described it as a “win-win” deal that would foster better relations […]

India Imposes Retaliatory Tariffs on US Products

India, News, Trade Policy, United States

June 15, 2019

The International Trade Council acknowledges India’s decision to impose tariffs on 28 US products, including almonds and apples, effective from Sunday. These new duties, with some reaching as high as 70%, are a response to Washington’s refusal to exempt Delhi from higher taxes on steel and aluminum imports. Earlier this month, US President Trump announced […]

US Terminates Preferential Trade Status for India Amid Tariff Dispute

India, News, Trade Policy, United States

June 1, 2019

The International Trade Council acknowledges President Donald Trump’s confirmation that the US will end preferential trade status for India next week. Until now, India has been the largest beneficiary of the Generalized System of Preferences (GSP) program, which allowed $5.6 billion worth of exports to enter the US duty-free. In March, President Trump announced the […]

US-China Trade War: Tensions Rising

China, News, Trade Relations, United States

May 29, 2019

In light of the ongoing US-China trade war, the International Trade Council is offering insights into potential strategies that Beijing could employ to destabilize President Trump’s approach. Drawing inspiration from Chinese history and ancient strategic manual The Art of War, we delve into a range of tactics that China could utilize in response to the […]

International Trade Council: “World Markets React to US-China Trade Tensions”

China, News, Trade Relations, United States

May 9, 2019

The International Trade Council is closely monitoring the impact of US-China trade tensions on global markets. As President Trump vows to double tariffs on $200bn of Chinese goods, stock markets worldwide have experienced significant losses.   Japan’s Nikkei 225 index lost 1.5% on Wednesday, following a 1.8% drop in the Dow Jones. European markets also […]

Trans Pacific Partnership (TPP) Maintains Momentum at APEC Summit Despite US Withdrawal

News, Trade Agreements, United States

November 11, 2018

The International Trade Council commends the continuous progress made by member countries of the Trans Pacific Partnership (TPP) at the Asia Pacific Economic Cooperation (APEC) summit in Vietnam, in spite of the absence of the United States following President Trump’s decision to withdraw.   During the APEC summit, President Trump reiterated his ‘America First’ stance, […]

EU Prepared to Dispute New U.S. Tariffs at World Trade Organization

Europe, News, United States

March 14, 2018

The International Trade Council acknowledges the European Union’s (EU) intended course of action to challenge the newly imposed tariffs on steel and aluminum imports by the United States at the World Trade Organization (WTO).   President Donald Trump’s decision to implement tariffs on these vital industries has generated a significant degree of uncertainty, particularly within […]

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