EU member states reached an agreement on the sidelines of the World Economic Forum with 16 World Trade Organisation members, including China, to establish an ad-hoc appeal body and overcome the US blockage of the global trade-regulating system.
The World Trade Organization agreed Wednesday (21 November) to hear complaints from a range of countries over new US steel and aluminium tariffs, as well as complaints from Washington over retaliatory duties.
The US and Boeing declared victory after the Word Trade Organisation concluded yesterday (22 September) that subsidies for aircraft maker Airbus were illegal. However, the US said it was "ready to negotiate" before slapping retaliatory duties.
Paris would like to "copy-paste" key passages from the EU-Canada free trade agreement, concluded this week, particularly those relating to the arbitration court that is such a controversial issue in Europe. EURACTIV France reports.
Policymakers from across Europe last week expressed broad support for the introduction of an EU-wide alternative dispute resolution system to prevent consumers from having to go to court to settle disputes with companies.
As the EU and the US prepare for their biggest-ever battle in the WTO, Boeing plays down the effect that the dispute could have on transatlantic relations but stresses the need for both parties to focus on a negotiated settlement.