PBEC Trade Report

PBEC Trade Report October 2021

September 29, 2021
Issue: 011: CHINA REACTS TO TAIWAN’S FTA BID: China has responded strongly to Taiwan’s bid to become a member of the CPTPP FTA. Foreign Ministry spokesman Zhao said in Beijing China firmly opposed official interactions with Taiwan and rejected its accession to any agreement or organization of an official nature. JAPANESE AMBASSADOR TALKS FTA WITH AUSTRALIA: Japan’s Ambassador to Australia Shingo Yamagami met with Trade Minister Tehan earlier in the week. In what Yamagami-san later described on Twitter as a “deep discussion,” their talks included the CPTPP FTA. Japan is currently chair of the CPTPP Commission. AUSTRALIAN MINISTER’S MAJOR TRIP:...
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PBEC Trade Report September 2021

September 12, 2021
Issue: 010: AUSTRALIA INTRODUCES RCEP LEGISLATION: Legislation to enable the ratification of the RCEP FTA has been introduced to the Australian Parliament. This followed a recommendation by the Treaties Committee that Australia ratify the mega (ASEAN + Australia, China, Japan, Korea and NZ) free trade agreement. UK FACES KEY ASIA PACIFIC MEETING: The CPTPP Accession Working Group’s first meeting to consider the UK’s bid to join the mega trade agreement will be held in the coming weeks. This follows last week’s meeting of the CPTPP Commission where economies also agreed to establish an e-commerce committee. WTO REJECTS CHINA’S SOLAR CHALLENGE:...
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PBEC Trade Report August 2021

August 22, 2021
Issue: 009: AUSTRALIA’S WINE APPEAL BEGINS: Australia’s complaint action at the WTO over China’s anti-dumping duties on wine is underway. Consultations between the two economies were held on August 9. A Dispute Panel will next hear and rule on a complaint by Australia that China has breached global trade rules. NEW ZEALAND APPOINTS NEW TRADE GROUP: Trade Minister O’Connor has appointed a new Trade Ministerial Advisory Group to advise on the implementation of the government’s “Trade for All” policy agenda. The group’s 13-person membership includes business, civil society and Maori representatives. AUSTRALIA & INDIA PREPARING FOR FTA TALKS: Australia and...
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PBEC Trade Report July 2021

July 20, 2021
Issue: 008: APEC LEADERS SEEK REFUGE IN TRADE FOR COVID RECOVERY: Leaders of the APEC economies have met virtually on 16th July and agreed to work together to facilitate the movement of goods and services. In a post-meeting statement, they acknowledged the importance of trade in combatting the far-reaching impacts of COVID-19. TRUMP’S CHINA TARIFFS NEAR $100 BILLION: US Customs trade statistics have reported $96 billion of penalty duties on goods from China since President Trump imposed Section 301 penalties. They were imposed in 2018 in response to China’s unfair and harmful acquisition of US technologies and IP. AUSTRALIA ENDS...
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PBEC Trade Report June 2021

June 20, 2021
Issue: 007: AUSTRALIA & UK CONCLUDE FTA: Prime Ministers Morrison and Johnson have reached an agreement in principle for an historic bilateral FTA. The FTA was reached over dinner at 10 Downing Street. The FTA is the UK’s first comprehensive trade agreement since leaving the EU. It expected to come into force in 2022. AUSTRALIAN FARMERS TO PROGRESSIVELY GET BETTER ACCESS: Australian farmers will progressively get better market access to the UK under the bilateral FTA. British farmers will be protected by a cap on tariff free imports for 15 years. UK manufacturers will benefit from the elimination of all...
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PBEC Trade Report May 2021

May 18, 2021
Issue: 006: AUSTRALIA KEEPS UP WTO ENGAGEMENT: Foreign Minister Payne has met with WTO director-general Ngozi Okonjo-Iweala to discuss the economic response to COVID-19, equitable vaccine access and women’s economic security. Trade Minister Tehan and the new global trade leader met three weeks ago. INDIA & UNITED KINGDOM LAUNCH TRADE PARTNERSHIP: Prime Ministers Modi and Johnson met virtually during the week and launched an Enhanced Trade Partnership. They agreed to work on a path toward a comprehensive FTA and established a target of more than doubling India-UK trade by 2030. AUSTRALIAN OFFICIALS MEET WITH PARLIAMENTARY COMMITTEE: Officials from the Ministry...
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PBEC Trade Report April 2021- Part II

April 8, 2021
Issue: 006: AUSTRALIA INVITES RCEP SUBMISSIONS: The Australian Parliament’s Joint Treaties Committee has invited public submissions as part of its ratification review of the ASEAN+5 RCEP FTA. Submissions to the parliamentary committee are due by April 16. Japan’s Parliament has also begun its ratification. BIDEN DEMANDS BUY AMERICAN FOCUS: President Biden has this week directed each of his Cabinet to examine their department expenditures and to ensure they were following the new administration’s Buy American Policy. The Buy American Policy was one of the new administration’s first policy initiatives. AUSTRALIA LAUNCHES NEW TRADE INITIATIVES: Trade Minister Tehan has launched a...
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PBEC Trade Report April 2021

April 1, 2021
Issue: 005: AUSTRALIA’S CHINA WINE DISPUTE HEADED TO WTO: A WTO Dispute Panel is likely now that China has hiked five-year anti-dumping duties on Australian wine to between 116 and 218 per cent. Trade Minister Tehan described China’s action as “extremely disappointing and completely unjustifiable.” AUSTRALIAN PRODUCERS RESPOND TO CHINA HIT: Australian wine producers are responding to China’s anti-dumping duties by chasing new markets. Industry leader Tony Battaglane said wine producers would now focus on growing demand for Australian wine in other markets across Asia, Europe, USA and UK. USTR TRADE MEETINGS BY VIDEO: United States Trade Representative Katherine Tai...
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PBEC Trade Report March 2021 – Part 2

March 9, 2021
Issue: 004: CHINA REPEATS INTEREST IN MEGA FTA: China has repeated its interest in the Trans-Pacific Partnership (CPTPP) saying it is actively considering making a membership bid. The comment was made by Premier Li Keqiang while presenting the government’s work report to the 13th National People’s Congress. AUSTRALIA FILES SUGAR SUBMISSION: Australia has filed a second written submission to the WTO Dispute Panel hearing its complaint against India’s sugar subsidies. Australia claims India has responded to its claims with unpersuasive legal arguments based on misrepresentations of global trade rules. SWISS VOTE FOR INDONESIAN FTA - JUST: A Swiss referendum last...
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PBEC Trade Report March 2021

February 16, 2021
Issue:003 WTO APPOINTS NEW DIRECTOR-GENERAL: Ngozi Okonjo-Iweala has this week become the first woman and the first African to lead the World Trade Organization. Her appointment was ratified by the WTO General Council. She will take up the global trade role on March 1. Her term will expire in August 2025. AUSTRALIAN INQUIRY DELAYED: Australia has delayed for a 3rd time its reporting dates for a dumping and subsidy inquiry into precision pipe and tube steel from China, Korea, Taiwan and Vietnam. COVID-19 has been blamed for the delays. Inquiry recommendations will now be made by July 2; 10 months...
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