Новая торговая политика ЕС

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17.12.2019 00:00

Stuck in a trade war between the US and China and in light of a dwindling World Trade Organization (WTO), the EU’s trade policy is in need of a new, positive and constructive agenda. The EU cannot afford to let its trade policy slip into a defensive position. The recently unveiled European Green Deal – Europe’s new flagship initiative – constitutes just such an agenda. With its significant leverage in trade, the EU can effectively push and pull global actors that are currently undermining global efforts to address the climate crisis.

Dwindling multilateralism

Things are not going in the right direction for multilateralism. After several days of negotiations, world leaders gathered at the 2019 United Nations Framework Convention on Climate Change (COP25) summit failed to agree on ambitious climate actions. Countries such as China, India, Brazil, Australia, Saudi Arabia, the US and Russia have been pinpointed as blocking any progress in Madrid. Just a few days prior to the COP25, another blow to multilateralism was struck when the US confirmed its blockage of the appointment of members to the WTO Appellate Body – leading to the de facto dysfunction of the highest instance of WTO dispute settlement.

Advancing greater sustainability through multilateral fora will not be easy. The multilateral trading system is already facing significant difficulties in advancing its negotiation agenda and modernising its rulebook in areas like digital trade, industrial subsidies and forced technology transfers. With the current collapse of the Appellate Body, there are fears that the multilateral trading system will not only remain static but could very well recede and fail to do what it was initially set up for: combat tariffs and trade restrictions.

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