AUSTRALIA: WTO SHOULD PENALIZE ECONOMIC COERCION OF CHINA

Highlights:

• The prime minister of Australia said, the WTO should penalize the economic coercion of China
• Australia is going to work with other countries to support the role of WTO

On Wednesday, Scott Morrison, who is the prime minist...

US TO SUPPORT PROPOSAL TO WAIVE INTELLECTUAL-PROPERTY PROTECTIONS FOR COVID VACCINES

Highlights

• The Biden administration will now actively take part in negotiations for the text of the waiver at the World Trade Organization and encourage other nations to come out and support it

The United States has decided to support a proposal to waive intellectual-pr...

AUSTRALIA ACCUSED OF DELAYING CAMPAIGN TO ALLOW GENERIC COVID-19 VACCINES

Highlights:

• Australia has been accused of delaying the covid-19 vaccination campaigns to allow the generic covid-19 vaccines
• The government of Australia has denied that, it has been blocking the proposed pause of the intellectual property rules
...

AUSTRALIA THREATENS WTO AS CHINA HIKES DUTY ON AUSTRALIAN WINE

Highlights:

• Australia has threatened the World Trade Organization as China has increased the duty on the wine
• The trade minister of Australia said that, the tariffs have meant it had been basically impossible for the wine of Australia

WTO OFFICIAL SAYS US APPEALED AGAINST TRADE BODY'S DECISION IN SOUTH KOREA TRADE DISPUTE

Highlights

• In the month of January, a WTO panel had recommended that the duties imposed on South Korea, four grades of steel in 2016 and on large transformers in 2012 need to be revised

• This decision made by the US to appeal against the WTO decision is seen as an...

AUSTRALIA TO ASK WTO TO STEP IN OVER CHINA TRADE BAN

Highlights:

• The government of Australia wants the WTO to step in for the China trade ban
• The government of Australia is going to ask WTO to decide that, whether China had broken the free trade rules over tariff

The government of Aust...

ALL WOMEN TECH PROGRAM INTRODUCED IN NEWTON SCHOOL

HIGHLIGHTS

• Newton School has started an all women tech program.
• This program is meant to help women develop industry-oriented skills.

An all women tech program has started in Bengaluru-based ed-tech startup, Newton School. This progr...

U.S.-INDIA TENSIONS INCREASED OVER TARIFF POLICIES UNDER TRUMP ADMINISTRATION: US CONGRESS REPORT

Highlights

• It also noted that both the sides have also held concerted negotiations in order address these trade worries

• The CRS report said “Under the Trump administration, bilateral tensions increased over each side’s tariff policies. In general, Ind...

THAI WTO EX-DIRECTOR GENERAL HINTS AT CARELESS APPROACH MAY LEAD TO HUMAN LIVES SHORTAGE

HIGHLIGHTS

• Ex-chief, World Trade Organization, Supachai Panitchpakdi, has encouraged the Thai government not to race to open the nation to international travelers amid the progressing danger from Covid-19

He called attention to that Western nat...

CHINA CATEGORICAL ON US BAN OF TIKTOK AND WECHAT IN NONCONFORMANCE TO WTO RULES

• China was vehement in its tirade at a World Trade Organization meeting against the United States which has shunned Chinese mobile applications TikTok and WeChat, stating that they oppose the body’s rules, a trade official said.
• The Trump administration has ordered downloa...

YOSHIHIDE SUGA ADRESSED HIS 1ST UN GENERAL ASSEMBLY AS THE NEW PM OF JAPAN

Highlights –

• Yoshihide Suga addressed his 1st UN General Assembly as the new PM of Japan.
• Suga mentioned the significance of multilateralism and free trade.
• He vowed to promote WTO reform and free trade agreements with other countrie...

STELLAR CAR MAKERS FUMING OVER US GOVERNMENT IMPORT TAXES ON CHINESE PARTS

• Stellar automobile makers are suing the US government over import taxes it has subjugated Chinese parts to.
• Tesla is the latest automotive firm to object to customs duties introduced by the Trump regime and is demanding refunds.

The US and China have subjected...

GERMANY PREPARES FOR NO DEAL BREXIT

HIGHLIGHTS

• It appears that trade differences between Germany may not resolve before Brexit deadline ends.
• German industry leaders fear that Brexit talks with the UK may fail.
• German industry leaders are worried that it is "almost inevi...

WTO AGREES TO BRIDGE JAPAN-SOUTH KOREA ELECTRONICS DISPUTE

Highlights:

• World Trade Organisation (WTO) granted South Korea’s request to inquire into Japan’s decision to restrict electronic component exports.
• A panel of three experts will be made to determine if Japan violated the WTO rules.
...

JAPAN TRADE MINISTRY WANTS TO REVAMP SUPPLY CHAINS

HIGHLIGHTS

• The operations of global supply chains have come to a halt due to coronavirus pandemic.
• The Japanese Ministry of Economy, Trade and Industry wants to revamp the supply chains.

The coronavirus pandemic has halted the operat...

SOUTH KOREA TO COUNTER JAPAN TRADE CURBS BY REOPENING WTO COMPLAINT

HIGHLIGHTS

• South Korea has reopened the complaint against Japan at WTO.
• South Korea wants to challenge the curbs that restrict Japanese technology exports to South Korean companies.
• Due to mutual settlement regarding some unrelated trade di...

Duterte stern about the travel ban, Taiwan plans countermeasures

Philippines president Rodrigo Duterte has rejected the request of Taiwanese officials to lift the travel ban on Taiwanese citizens from visiting Philippines, the president claimed that the ban was a precautionary measure to contain the widespread of Coronavirus.

Taiwan has made it clear...

Turkey amongst the elite in tourists books

United Nations World Tourism Organization has recently released its figure for 2019, and after hosting highest number of tourists ever in 2019, Turkey has gained the spot of sixth most visited nation in the world. Mexico, Thailand, Germany and the United Kingdom were the other nations that manage...

TRADE IS NOT THE DRIVING THE CURRENCY RATES: WTO CHIEF

Highlights:

• Robert Azevedo, the Director-General of WTO, stated that the Trade is not a driving factor in determining currency rates around the world.
• US Commerce Department came up with a new rule to impose anti-subsidy duties on products from countr...

Tourism's rising intensity

The latest issue of the UNWTO World Tourism Barometer shows that international tourist arrivals rose by another 4 million between January and September 2019. Tourism's growth continues to outpace global economic growth, bearing witness to its enormous potential to create prospects for investm...