We strive to reduce tariff barriers, non-tariff barriers and subsidies. 5.
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"We strive to reduce tariff barriers, non-tariff barriers and subsidies," the statement said.
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"We strive to reduce tariff barriers, non-tariff barriers and subsidies," the statement said, which came despite Washington appearing intent on taking more punitive steps on trade.
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Successive rounds of trade negotiations have lowered average tariff barriers and tried to control non-tariff barriers on trade and investment to create a more predictable environment for business.
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"If they are putting non-tariff barriers on us, we will put tariff barriers on their goods coming in," promised Mr DiMicco, while denying that President Trump would be starting a trade war.
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"We strive to reduce tariff barriers, non-tariff barriers and subsidies," the leaders said in a statement after a meeting that focused heavily on trade fights between the United States and its allies.
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Mr Trump's tariff barriers are broader than Mr Obama's were.
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This and non-tariff barriers would add considerably to Nissan's costs.
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Brussels has also complained about non-tariff barriers to auto imports.
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There are still many options for tariff and non-tariff barriers.
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In an ideal world, zero tariffs, zero non-tariff barriers, zero subsidies.
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Despite Kaine's newfound concerns, the TPP addresses more than just tariff barriers.
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Tariffs may vanish, but non-tariff barriers pop up in their place.
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Brussels has also complained about non-tariff barriers to its auto imports.
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He insisted on Beijing lowering both tariff rates and non-tariff barriers.
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We'd be thrilled to see non-tariff barriers eliminated in their entirety.
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The forecast assumed no changes to migration rules but some non-tariff barriers.
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But trade within the group remains hampered by exceptions and non-tariff barriers.
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Up for debate is intellectual property, technology transfer, non-tariff barriers and agriculture.
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We want tariffs that are even, non tariff barriers to be shut out.
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Tariffs will be lower and non-tariff barriers will be eliminated, he added.
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But is the use of capital controls globally increasing alongside rising tariff barriers?
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GETRID OF SOME OF THE TARIFF AND NON TARIFF BARRIERS TO AMERICAN EXPORTS.
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Perdue said topics around non-tariff barriers were still a point of contention.
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Many other countries have been using a wide array of non-tariff barriers.
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China's apparently large panoply of non-tariff barriers to trade should also be dismantled.
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It would also help remove non-tariff barriers that still thwart North American trade.
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Critics say South Korea discriminates against imports with a range of non-tariff barriers.
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" Facilitating U.S. exports and "getting rid of both tariff and non-tariff barriers to trade.
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Ross said he aims to fix "dumb trade" deals, while getting rid of tariff barriers.
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And it says additional non-tariff barriers would cost the equivalent of 6.5% on exports.
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Even our allies at the E.U. have non-tariff barriers that are damaging our farmers.
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But such deals do not circumvent non-tariff barriers, nor do they cover financial services.
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And ultimately, he believes we should have zero tariffs and non-tariff barriers and subsidies.
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It dismantles both tariffs and non-tariff barriers involving standards, regulations or rules of origin.
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Other rule changes would protect intellectual property and reduce non-tariff barriers against agricultural trade.
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Apart from some rules on digital trade, it seems to be focused on tariff barriers.
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MS: Ok, but is raising tariff barriers even higher the way to do this though?
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China has used non tariff barriers before during diplomatic tensions, most recently against Australian coal.
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It would also allow Trump to take into account non-tariff barriers when determining such tariffs.
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Our exporters will then face tariff and non-tariff barriers and costly delays through border checks.
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Because it eliminates not just tariffs but non-tariff barriers, the single market is hugely valuable.
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The pact will eliminate tariffs on 90% of products, liberalise services and reduce non-tariff barriers.
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The analysis is comprehensive, looking at tariffs and non-tariff barriers as well as migration effects.
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British exports would face non-tariff barriers such as rules of origin and other red tape.
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EAC members keep good data, and a public scorecard holds them accountable for non-tariff barriers.
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Government restrictions on international flows of data are the non-tariff barriers of the 21st century.
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If that's really what we're saying then just drop all tariffs and all non-tariff barriers.
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YOU KNOW, RECIPROCAL OWNERSHIP, HOW INTELLECTUAL PROPERTY GETS HANDLED, NON-TARIFF BARRIERS AND STUFF LIKE THAT.
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NON-TARIFF BARRIERS Trump administration officials have used the broad category of non-tariff barriers to include China's industrial subsidies, numerous regulations, business licensing procedures, product standards reviews and other practices to keep U.S. goods out or to give an unfair advantage to domestic Chinese firms.
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" When asked if the company could move production elsewhere if tariff barriers rise, Palmer said "we'll see.
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"It will lead to substantial reductions in tariffs and non-tariff barriers across the board," he said.
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Non-tariff barriers are a key element in our calculations and, no, we do not ignore quality.
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He gave long-standing restrictions on meat imports to China as an example of non-tariff barriers.
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"In particular, we urge you to address currency manipulation and auto-related non-tariff barriers," they wrote.
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Manufacturers fret about the effect on just-in-time supply chains of tariffs and non-tariff barriers.
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Moves are afoot to wall off sensitive technologies behind export controls, tariff barriers and tougher investment-screening rules.
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Overall, more tariffs were slashed than had been expected, but progress on non-tariff barriers has been underwhelming.
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Reducing South Korean non-tariff barriers to U.S. automotive exports has been a priority for the Trump administration.
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Singh said more needed to be done to ease regulations, lower non-tariff barriers and solve licensing problems.
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The president, however, did not elaborate on how or whether the United States would reduce its tariff barriers.
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And those are the ones that come from-- too high tariff barriers, too high non-tariff trade barriers.
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High non-tariff barriers, including a complex regulatory system, make it difficult to sell American cars in Japan.
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The imposition of non-tariff barriers would make it more difficult to do business with the EU market.
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Johansson said the change in methodology reflects non-tariff barriers that U.S. farmers have long been facing overseas.
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The second issue is what happens to non-tariff barriers, such as regulations, between Britain and its trading partners.
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They promised not to throw up tariff barriers as governments did during the 1930s, and their commitment largely held.
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The six memorandums include cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.
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There have been non-tariff barriers for years and China has cheated ever since they got in the WTO.
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"That's the way to approach trade, not by just erecting barriers, either tariff or non-tariff barriers," he said.
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China right now has major trade barriers -- they're major tariffs -- and also major non-tariff barriers, which are brutal.
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In line with the WTO's Trade Facilitation Agreement, the AfCFTA also addresses non-tariff barriers such as border delays.
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When trade agreements focused mostly on tariff and non-tariff barriers at the border, mercantilism produced some salutary consequences.
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The deal also addresses non-tariff barriers for US agriculture, including issues with China's process for approving biotech crops.
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Will the non-tariff barriers that were lowered during Britain's membership of the EU rise again when it pushes off?
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The bureaucracy and cost of a sudden imposition of tariffs and non-tariff barriers would lead to a brutal dislocation.
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It would mean the EU imposing tariffs plus a full panoply of non-tariff barriers on almost half Britain's exports.
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I talk about the three zeros with the president: no tariffs, or non-tariff barriers and so forth, no subsidies.
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That not only implies tariffs and non-tariff barriers, but also falling out of most of the EU's regulatory agencies.
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Removing all such "non-tariff barriers" could raise America's GDP by up to 3%, according to the most optimistic study.
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Indeed, trade agreements like the Trans-Pacific Partnership focus more on "non-tariff barriers" than they do on tariff reduction.
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Worse still, from a strictly political perspective, is the focus within new trade agreements on stripping away non-tariff barriers.
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AGAIN, THE THEFT OF INTELLECTUAL PROPERTY, THE FORCED TRANSFER OF TECHNOLOGY, A WIDE NUMBER OF TARIFFS AND NON-TARIFF BARRIERS.
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The negotiations will cover trade topics including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement.
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"This paves the way for a broader agreement that must address non-tariff barriers and intellectual property issues," Grassley said.
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U.S. officials also said they had made progress on cyber theft, services, currency, agriculture and non-tariff barriers to trade.
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So it makes little sense for Honda to keep producing in Britain when, outside the EU, it might face tariff barriers.
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Research also shows that the largest gains come not from reducing tariffs, but from cutting non-tariff barriers and transport times.
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Washington released its goals for negotiating NAFTA on Monday, saying it sought to eliminate non-tariff barriers to U.S. agricultural exports.
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Second, trade in goods and services is important and can expand and perhaps rebalance by eliminating tariff and non-tariff barriers.
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China committed to start lifting tariffs and non-tariff barriers immediately, including reducing its 40 percent tariffs on autos, Kudlow said.
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They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.
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Great-power competition is not only playing out in fights over tariff barriers, cyberspace or sea lanes in the Asia-Pacific.
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It referred to laws governing mercantile trade and certain associated matters, such as tariff barriers, commercial finance, navigation, and marine insurance.
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And where we want get to is very few or none in terms of tariff barriers or nontariff barriers to trade.
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Thailand also has several non-tariff barriers that limit some U.S. products and act as a de facto ban on others.
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Norsk Hydro's Molland said unilateral tariff barriers outside the World Trade Organization system would be bad for the entire aluminum industry.
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Reducing South Korean non-tariff barriers to U.S. automotive exports has been a priority for the Trump administration in the talks.
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But allowing for cuts in migration and higher non-tariff barriers, the cost of the government's deal is as high as 2.7%.
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The negotiations included intellectual property, or IP, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement, the USTR statement said.
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Japan has rejected that accusation, saying it does not impose tariffs on U.S. auto imports nor put up discriminatory non-tariff barriers.
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China cheats by protecting its home market from American imports with high tariffs, tricky non-tariff barriers, and costly, constantly changing regulations.
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" The two sides agreed to work together towards "zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods.
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That is why companies that trade with the EU, by far Britain's biggest market, fret about the erection of non-tariff barriers.
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The memorandums would cover forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
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China also committed immediately to start lifting tariffs and non-tariff barriers, including reducing its 40 percent tariffs on autos, Kudlow said.
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But the bigger concern is non-tariff barriers such as regulations, especially for services, which make up 80% of the British economy.
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America's very own populist, Donald Trump — offering walls and tariff barriers to his aggrieved supporters — could learn something from the Brazilian experience.
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By reducing barriers to trade, such as removing import duties and non-tariff barriers, African countries hope to boost intra-continental business.
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AS I SAID -- NO FORCED TECHNOLOGY TRANSFERS, NO IP THEFT, BRING DOWN – LET'S ELIMINATE TARIFF AND NON-TARIFF BARRIERS AND SO FORTH.
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Others, including from Rabobank, use estimates of non-tariff barriers between the EU and America as a guide to what Britain could face.
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They'll cover issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement, according to a White House statement.
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But even as tariffs have come down, east African countries are also erecting new non-tariff barriers, such as divergent standards for goods.
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If the Trump administration reacts to widening trade deficits with extra tariffs and non-tariff barriers, then the instability will only be exacerbated.
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How it works: Typically, mature economies like the U.S., Japan and the eurozone impose fewer tariff barriers because their industries are more advanced.
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"In" supporters say those deals are no model for Britain's much bigger economy and do not cover non-tariff barriers such as standards.
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This proves President Trump knows how to use U.S. economic might as leverage to lower tariff and non-tariff barriers to U.S. exports.
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Japanese carmaker Nissan said on Thursday it wanted Britain to compensate it for any tariff barriers if it was to maintain investment plans.
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There, the U.S. was able to achieve substantial lowering of Japanese tariff barriers on U.S. exports, such as beef, pork, poultry and dairy.
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Bad roads, grasping officials and tariff barriers still hobble trade between African countries, which is only 11% of total African exports and imports.
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Most of these agreements also deal with non-tariff barriers, establish mutual-recognition agreements for regulated products and establish procedures for conflict resolution.
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Trade policy can be reformed, but imposing drastic tariff barriers or moving to an overall protectionist stance will cause more damage than benefit.
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The White House said they're dealing with intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement of any agreement.
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NAFTA removed most trade and tariff barriers between the neighbors, but Trump and other critics have blamed it for deep U.S. job cuts.
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The prospect of Britain's continuing indefinitely in Europe's single market, which removes non-tariff barriers and helps trade in services, is less likely.
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Trump said they had agreed to "work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods".
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Last month, it laid out its objectives for a deal that included reduced tariff and non-tariff barriers for U.S. industrial and agricultural goods.
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But as the car industry shows, it is not tariffs but non-tariff barriers, such as differing regulations, that most impede British-American trade.
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One research paper finds that in the chemicals industry, EU exports to America face non-tariff barriers equivalent to a tariff of about 20%.
|
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The subjects of next week's discussions will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement.
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The ruling earlier this month clarified the limits of "national security" as a defense for breaking WTO rules against unjustified tariff barriers to trade.
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The White House said Wednesday that both sides discussed topics such as forced technology transfer, intellectual property rights, services, non-tariff barriers and agriculture.
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"We do not impose import tariffs on cars, and we do not impose any non-tariff barriers," Chief Cabinet Secretary Yoshihide Suga told reporters.
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Last month it laid out its objectives for a deal that included reduced tariff and non-tariff barriers for U.S. industrial and agricultural goods.
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Reuters reported that both sides were drafting MOUs on cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.
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Failure to reach a deal could lead to a situation where tariff barriers spring up, defaulting to levels set by the World Trade Organization.
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"China needs access to the India market, where the Indian government has been slapping tariffs on them and imposing non-tariff barriers," he said.
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"The discussions will cover a range of issues, including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, the trade deficit, and enforcement."
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"We're looking forward to trying to solve the trade issues with the EU, which has not just tariffs but not tariff barriers," said Mnuchin.
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And many of America's trading partners use subsidies and non-tariff barriers to ensure that they buy as little of America's products as possible.
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The challenge for negotiators is to put in place credible incentives promoting mutually beneficial trade without the overhang of tariffs and non-tariff barriers.
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Nearly half the companies surveyed also said there had been an increase in non-tariff barriers, including increased bureaucratic oversight and slower customs clearance.
|
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Beijing has also abolished most of its non-tariff barriers, such as import quotas and licensing requirements, that were once pervasive, the analysts said.
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It erects high non-tariff barriers that harm our wheat and barley growers and place United States beer and spirits exporters at a disadvantage.
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All EU countries (and some others, like Norway and Switzerland) vowed to abolish not just tariffs but myriad non-tariff barriers that hamper trade.
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"It's really a ceasefire only, which leaves very significant new tariff barriers in place, while making further escalation unlikely before the election," says Kirkegaard.
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So that's a huge piece of it – it's not the only piece, but between the market openings, they're lowering non-tariff barriers on agriculture.
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YOU KNOW, ZERO TARIFFS, ZERO NON-TARIFF BARRIERS, ZERO SUBSIDIZES, STOP THE IP THEFT, STOP THE TECHNOLOGY TRANSFER, ALLOW AMERICANS OWN THEIR OWN COMPANIES.
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"Both sides should try to lower tariffs as much as possible ... and to take down non-tariff barriers wherever they are," he told Politico.
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U.S. automakers have long urged removal of non-tariff barriers in Japan, South Korea and other markets that they believe unfairly hinder U.S. exports.
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We're completely integrated in supply chains right across Europe, small businesses, big businesses and non-tariff barriers to trade are just as important as tariffs.
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The illegal or questionable tactics include: enormous subsidies to support dumping and below-market pricing, currency manipulation, non-tariff barriers to American goods, and more.
|
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Membership however involves reducing non-tariff barriers, such as regulatory constraints, in a way that no existing trade deal or customs union does, it said.
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Firstly, the impact on the U.S. corporate sector would be more widespread as China could put up non-tariff barriers such as restriction of purchases.
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Japanese officials have pointed out that there are no tariffs on foreign car imports into Japan and maintain there are no discriminatory non-tariff barriers.
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The WTO option would not remove non-tariff barriers, nor even tariffs on many products, such as cars (which attract a levy of around 10%).
|
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Negotiating a BIA would be an effective way to address non-tariff barriers to trade and investment and to spur more investment in both directions.
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Third, innovative rules of origin and improvements related to non-tariff barriers will mean direct benefits for the people at the heart of our economies.
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Tearing up existing trade agreements and retreating behind high tariff barriers — as Mr. Trump, and perhaps Mr. Sanders, would have it — would be immensely unproductive.
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"We don't need China to buy more chips," the source said, adding that U.S. industry was concerned about being targeted by Chinese non-tariff barriers.
|
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The 79 year-old Ross believes Beijing has "beautiful free-trade rhetoric" but in reality, it implements high tariff and non-tariff barriers to imports.
|
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The United States is offering no real concessions in return, other than to remove the tariff barriers Trump has imposed to force change from China.
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The systematic elimination of tariffs and non-tariff barriers in the exchange of goods and services across national borders has raised standards of living everywhere.
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First, if we allow our firms to "win" by being second or third in class, protected behind tariff barriers, we will not be world leaders.
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China has committed to reduce non-tariff barriers to agricultural products such as poultry, seafood and feed additives as well as approval of biotechnology products.
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He wants the EU and Japan to make trade concessions including lowering the EU's 10 percent tariff on imported vehicles and cutting non-tariff barriers.
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These counties also have non-tariff barriers to free trade, which include massive Canadian subsidization of its lumber industry that puts American companies at a disadvantage.
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American negotiators could, for instance, target Britain's insurance market, extracting an agreement to lower non-tariff barriers and in so doing cutting that prized trade surplus.
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But that means they are also not part of the single market, which makes their exports into it subject to both tariffs and non-tariff barriers.
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Baroness Verma said non-tariff barriers such as labelling requirements, additional inspections or anti-dumping duties were also a source of concern for many British businesses.
|
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Trump administration officials have pointed to China's industrial subsidies, numerous regulations, business licensing procedures, product standards reviews and other practices as non-tariff barriers to trade.
|
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A joint statement said the two sides had agreed to work together to reduce over supply of basic materials such as steel and non-tariff barriers.
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However, the two plan to update it to include services, more agricultural products, more in public procurement, intellectual property and rules to tackle non-tariff barriers.
|
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"We agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods," Trump said.
|
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The Korean government reportedly expects Washington to request reduced non-tariff barriers on US car exports to South Korea, local newspaper Korea Joong Ang Daily said.
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But André Sapir at the Bruegel think-tank in Brussels adds that both sides will benefit from removing non-tariff barriers, such as incompatible product standards.
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The two sides would also launch new trade talks to address issues including technology transfer, intellectual property, non-tariff barriers, cyber theft and agriculture, it said.
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"In services, tariffs are irrelevant - it's all about non-tariff barriers, it's about regulations," said Stephen Booth, Co-Director, of free-market think tank Open Europe.
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Japan does not charge a tariff, but the United States contends that Tokyo uses non-tariff barriers that thwart sales of U.S. cars in that market.
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In a letter to Congress released by the White House, Trump said he intends to enter into the deal on tariff barriers in the coming weeks.
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"The penalties for not getting there on time are very severe, and therefore these non-tariff barriers can very quickly drive up costs," the report said.
|
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Previous EU trade deals, such as those with Canada or South Korea, have aimed to harmonise regulatory regimes in order to reduce non-tariff barriers to trade.
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The statement agreed to by the seven leaders would commit them to modernizing the World Trade Organization and strive to reduce tariff barriers, nontariff barriers, and subsidies.
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There would be customs controls and rules-of-origin checks, many services would not be covered and there would be non-tariff barriers thanks to differential regulation.
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Japanese trade minister Hiroshige Seko this week rejected that criticism, saying Japan does not impose tariffs on U.S. auto imports nor put up discriminatory non-tariff barriers.
|
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But without a liberal and comprehensive free-trade deal with the EU, British exporters could face tariffs and, especially, non-tariff barriers, where it currently faces neither.
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" "President Trump made it clear time and again that he wants to reinstitute a process of free trade, no tariffs, no tariff barriers, no quotas and subsidies.
|
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"We will work on this matter in order to ensure the balance of mutual interests," he said, adding that negotiators would first focus on non-tariff barriers.
|
|
Quotas are a feature of NAFTA in several agricultural commodities including dairy and sugar, but Washington is seeking to eliminate non-tariff barriers to U.S. agricultural exports.
|
|
Future retaliatory action on the part of China may include a combination of tariff and non-tariff barriers as well as other yet-to-be-announced countermeasures.
|
|
Regulations governing rules of origin, removal of non-tariff barriers and the development of a payments and settlements system are expected to be unveiled at the summit.
|
|
Among its best features, the Trump plan seeks to "maintain existing reciprocal duty-free market access" for industrial and agricultural goods and to reduce non-tariff barriers.
|
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It also employs non-tariff barriers, limits foreign bidding on government contracts and restricts investment from abroad in sectors like transportation, communications, defense, natural resources and energy.
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"President Trump understands that too many nations talk about free trade abroad, only to shield their economies behind tariff and non-tariff barriers at home," he said.
|
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More to the point, he has ordered the NFA to ease limits on food imports, lift non-tariff barriers and allow private traders to bring in more rice.
|
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"US demands for verification and enforceable targets on intellectual-property rights, transfer of technologies and non-tariff barriers may not be that easily addressed," the DBS analysts wrote.
|
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"The subjects of next week's discussions will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement," the White House said.
|
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They will be discussing trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement, according to a statement from the White House.
|
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Yet in a world where services trade matters as much as goods, 21st-century Peelites focus on reducing non-tariff barriers, such as by harmonising regulations and standards.
|
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These included cutting tariff and non-tariff barriers to imports, ending the "theft" of intellectual property and allowing full foreign ownership of companies operating in China, Kudlow said.
|
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U.S. Trade Representative Robert Lighthizer has called for greater access for American beef and rice and targeted what he calls non-tariff barriers to the Japanese car market.
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"As the UK could now be subject to new trade tariff barriers, we also anticipate the need for additional productivity and efficiency in the medium term," he said.
|
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The White House statement declares both sides will begin negotiations to resolve differences on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft.
|
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Second, in addition to eliminating tariffs, the talks should focus on getting rid of the many non-tariff barriers that exist in both the United States and Japan.
|
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Also, on the point to agriculture, it's not just the purchase, but they have been willing to open up their markets, non-tariff barriers might be brought down.
|
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Both sides discussed topics including technology transfers, intellectual property protection, non-tariff barriers, services, agriculture and the trade balance, Xinhua said, following a week of talks in Beijing.
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That's because free trade agreements eliminate tariff and non-tariff barriers to U.S. goods and services, making American products more competitive in the countries to which they're exported.
|
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However, trade-related optimism faded on Thursday as China offered little details on key issues such as forced technology transfers, intellectual property rights, tariff barriers and cyber attacks.
|
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Tariff barriers and high transportation and distribution costs, relative to today, meant that there were very few opportunities for American firms to offshore manufacturing in an efficient way.
|
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Quotas are already a feature of NAFTA in several agricultural commodities including dairy and sugar, but Washington is seeking to eliminate non-tariff barriers to U.S. agricultural exports.
|
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During the meeting, Trump is set to focus on issues including alleged Chinese theft of intellectual property, ownership of American companies in China and tariffs and non-tariff barriers.
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They have higher tariffs than we do, higher non-tariff barriers, and this President, it takes courage and vision to stand up to the swamp, trust me on that.
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Quite frankly, if the choice was getting rid of all of China's non-tariff barriers and allowing Huawei back into America, I think the U.S. negotiators would walk out.
|
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No deal yet, but still on the structural issues regarding IP theft, forced technology, cyber interference, trade and non-trade tariff barriers and so forth, certainly, the enforcement mechanisms.
|
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Asked about non-tariff barriers, a spokesman at GM's Korean unit said removing them could expand the range of models the company can bring in from the United States.
|
|
"We agreed today ... to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods," declared the two leaders in a joint statement.
|
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Ministry spokesman Gao Feng reportedly said during a news conference that the two sides made progress on issues including forced technology transfers, intellectual property, tariff barriers and cyber attacks.
|
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Ministry spokesman Gao Feng reportedly said during a news conference that the two sides made progress on issues including forced technology transfers, intellectual property, tariff barriers and cyber attacks.
|
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Tariffs and non-tariff barriers, including tougher restrictions on market access, investment, business ownership, security blacklists, sanctions and criminal prosecutions have been employed in a whole-of-government effort.
|
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Trade Minister Kim Hyun-chong said that in the first round of talks in Washington on Friday, the U.S. focused on eliminating non-tariff barriers in the auto sector.
|
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British exports would face non-tariff barriers such as rules of origin and equivalence tests for technical and environmental standards if Britain ceased to apply EU single market rules.
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The two sides will intensify negotiations to resolve the key issues, including non-tariff barriers, intellectual property protection, cybertheft, and more, according to a statement from the White House.
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Sources familiar with the negotiations told Reuters the memorandums would cover forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
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SUPPLY MANAGEMENT: Quotas are a feature of NAFTA in several agricultural commodities including dairy and sugar, but Washington is seeking to eliminate non-tariff barriers to U.S. agricultural exports.
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However, exiting the single market and customs union would see the re-imposition of non-tariff barriers, as well as lingering uncertainty in key areas such as financial services.
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The pact swept away a litany of tariff and non-tariff barriers, laying the groundwork for the incredibly complex supply chains that span the U.S., Canada and Mexico today.
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Before the Berlin Wall came down, East Germany's manufacturing was heavily protected by the tariff barriers thrown up by Russia's counterpart to the European Union free trade zone, COMECON.
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Reuters reported on Wednesday that both sides were drafting memorandums of understanding (MOUs) on cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.
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Reuters reported exclusively on Wednesday that both sides were drafting memorandums of understanding (MOUs) on cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.
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The farm and food groups on Friday also urged U.S. officials to address tariff barriers and other regulatory and labeling issues that hinder U.S. access to the lucrative European market.
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Green expected China to increase non-tariff barriers on U.S. companies, such as delaying regulatory approvals, as it couldn't hit the same amount of imported U.S. goods with higher tariffs.
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Many businesses, notably in London's financial services sector, which is dominant in Europe, or among manufacturers wary of new tariff barriers are considering relocating parts of their operations from Britain.
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It is because the biggest obstacles swept away by the single market are not tariffs or customs checks, but non-tariff barriers such as standards, regulations and state-aid rules.
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The contrasting data from the U.S. and the euro zone may weaken the French presidential candidate Marine Le Pen, who is calling for tariff barriers to protect the French economy.
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Trade-related optimism faded somewhat as China offered little in the way of details on key issues such as forced technology transfers, intellectual property rights, tariff barriers and cyber attacks.
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It also reduces some non-tariff barriers, promising greater cooperation between Canadian and EU regulatory authorities, and offers improved access to some services markets, like telecoms, energy and maritime transport.
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Branstad said he is hopefully there is still a chance to address non-tariff barriers and loss of intellectual property, speaking at the opening of a financial forum in Beijing.
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Beyond these new steps, the fact that the U.S. government had already steeply increased tariff barriers on foreign medical equipment makes the impending scarcity of medical supplies even more problematic.
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"We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods, " Trump said on July 25.
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The Fund speculates that a slowdown in trade liberalization, an upsurge in antidumping and the proliferation of more subtle non-tariff barriers could help explain the extra slowdown in trade growth.
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A proliferation of tariffs and non-tariff barriers intended to protect national and economic security was born from worries about the impact of international trade on domestic manufacturing industries and employment.
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Green expected China to increase non-tariff barriers on U.S. companies, such as delaying regulatory approvals, as it could not hit the same amount of imported U.S. goods with higher tariffs.
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From the commodity standpoint, both farm and industrial, you've got to have lower tariffs and non tariff barriers, and that's an area where our team is going to be particularly tough.
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For one, he said that the issue of removing China's so-called non-tariff barriers to foreign companies succeeding within its borders remains central to the U.S. position on the talks.
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Well, for example, you could argue that non-tariff barriers, some of the ways these things are applied to some trade with some other nations, and I'll give you an example.
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The GST replaced several federal and local taxes and tore down tariff barriers between India's 29 states, but critics say that has been to the benefit mainly of large, nationwide businesses.
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"Addressing non-tariff barriers would not fundamentally raise the competitiveness of U.S. cars," a senior Korean government official told Reuters, declining to be identified because of the sensitivity of the subject.
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" Suga issued the rebuff after the U.S. government submitted a statement to the World Trade Organization on Wednesday saying "a variety of non-tariff barriers impede access to Japan's automotive market.
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"We're not global enough, but at the same time we're less exposed to the tariff barriers that can spring up here and there," PSA Europe chief Maxime Picat said on Thursday.
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The U.S. Trade Representative last week criticized what it said were non-tariff barriers to the Japanese car market and called for greater access to Japan for American beef and rice.
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Officials have begun outlining commitments in principle on subjects of forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, sources told Reuters.
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Global Trade Alert recently found that most G20 countries, including Germany and Japan, have put in place substantial new non-tariff barriers, despite the G20's commitments to reduce trade barriers.
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Under the deal, tariffs and non-tariff barriers would be eliminated for thousands of products traded between Indonesia and the EFTA countries - Switzerland, Liechtenstein, Norway and Iceland, according to government statements.
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If they lower their tariff barriers and they lower their nontariff barriers and open markets, we will export like crazy, because America has become the most competitive economy in the world.
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U.S. President Donald Trump said on Monday that the United States has reached initial trade agreements with Japan on tariff barriers and digital trade, supporting sentiment in the Tokyo share market.
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For its part, China is feeling more pain from these 301 tariffs than the US, but China's threat to escalate with non-tariff barriers, like regulatory measures, should greatly worry Trump.
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As a result, the Fund urges policymakers to resist protectionism, revive trade liberalization and dismantle remaining non-tariff barriers to support global trade and a new round of global value chain development.
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Reuters reported previously that the two sides were negotiating written pacts in six areas: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
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As Open Britain, another think-tank, notes, this implies not just all of the EU's non-tariff barriers, but tariffs of 10% on cars, 15% on food and 36% on dairy products.
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According to the International Monetary Fund, eliminating tariffs could boost trade in the region by 15-25% in the medium term, but that could double if other, non-tariff barriers are reduced.
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China may well "agree" to lower tariffs on certain American imports, but secretly erect non-tariff barriers to keep those same imports from gaining more than a toehold in the Chinese market.
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Rather, by using detailed quality-adjusted OECD prices we reach roughly the same estimates of non-tariff barriers that the researchers at the London School of Economics cite for their own work.
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Officials have started to outline commitments in principle on subjects of forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, sources told Reuters.
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Trump has vowed to increase tariffs on $200 billion worth of Chinese imports on March 2 if China fails to address intellectual property theft, forced technology transfers and other non-tariff barriers.
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"We cannot speculate on what South Africa may or may not do with respect to its tariffs and non-tariff barriers," a U.S. State Department official wrote in response to Reuters' queries.
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The outlet reported that the legislation, the U.S. Reciprocal Trade Act, would give the president far-reaching authority to increase tariffs if he thinks another country's non-tariff barriers are excessively restrictive.
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Mr. Kudlow said that the demands of the United States have not changed, and that China must lower its tariff and non-tariff barriers and cease the theft of American intellectual property.
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Trump has vowed to increase tariffs on $123 billion worth of Chinese imports on March 2 if China fails to address intellectual property theft, forced technology transfers and other non-tariff barriers.
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"If Europe believes in free trade, we're ready to sign a free trade agreement," Mnuchin said, adding that such a deal would require the elimination of tariffs, non-tariff barriers and subsidies.
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KH: Well, I think that the global big-picture target of Trump trade policy is to reform it so that we have lower tariffs and lower non-tariff barriers and symmetric trade deals.
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Should a French withdrawal embolden similar movements from Denmark to the Netherlands to Austria, even Italy, the entire European system could crumble and with it would arrive a host of new tariff barriers.
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LF: Well, at the moment, all these agreements give us preferential access, and they deal not just with tariffs, but, of course, non-tariff barriers, which are the biggest impediments, potentially, to trade.
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Schweitzer said European companies also faced other non-tariff barriers to doing business in the United States, for instance in winning government contracts, or due to the different regulations in various U.S. states.
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If I were they, I would try to help us with all the Chinese officials regarding these trade talks and trade openings, and tariff reduction, non-tariff barriers of course the technology issues.
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Trump says he wants to de-escalate trade tensions with China but insists on Beijing addressing long-standing issues such as intellectual property theft, forced technology transfers, and tariffs and non-tariff barriers.
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Mexico would continue to work on diversifying trade, protect foreign investment, review possible changes to tariff barriers, and prepare a macro-economic response from the finance ministry and the central bank, Videgaray added.
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In July Jean-Claude Juncker, the president of the European Commission, and Mr Trump agreed to work towards a world with no tariffs, non-tariff barriers or subsidies for non-auto industrial goods.
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In talks this week, the countries focused on technology, intellectual property rights, agriculture, services, non-tariff barriers and currency, and potential Chinese purchases of U.S. goods and services, according to the White House.
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You know, non-tariff barriers in Europe and some other markets, but I feel like we can address those with these governments because... In the normal way, these conversations happen all the time.
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"Upgrading their vehicles and meet the luxurious taste of consumers is more important than complaining about non-tariff barriers," said Kim Pil-soo, a professor of engineering at Daelim University College near Seoul.
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"Hikes in tariffs and non-tariff barriers could disrupt cross-border supply chains and by making production less efficient, slow or even reverse the downward trend in capital goods prices," the Fund said.
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"The proposal is already in place, it should be voted on this week and it will be compensation for the absence of tariff barriers from Repetro," said Cesar Prata, Vice President of Abimaq.
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"I would urge India also to think about opening its markets further, removing non-tariff barriers to encourage trade and stimulate competition which drives productivity and raises earnings and living standards," Hammond said.
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These experiences suggest that reductions in non-tariff barriers require enhanced regulatory policy coordination, for example, which will demand much creativity to respect regulatory decision-making processes on both sides of the Atlantic.
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The White House said on Saturday that the talks would cover structural changes in China on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.
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"We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods," Trump said at a press conference with Juncker.
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For example, the U.S. is much heavier user of key non-tariff barriers, such as anti-dumping, which is the most common — and most controversial — non-tariff barrier over the past several decades.
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Reuters reported previously that the two sides were working on written agreements in six areas: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade.
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"The Chinese delegation said that substantial progress was made on such specific issues as technology transfer, protection of intellectual property rights, non-tariff barriers, service industry, agriculture and exchange rates," the statement said.
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At the G-20, Trump will focus on issues including alleged Chinese theft of intellectual property, ownership of American companies in China and tariffs and non-tariff barriers, the National Economic Council director said.
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In truth, the nub of the single market is not its scrapping of tariffs or even customs checks, but its getting rid of myriad non-tariff barriers thrown up by different rules and standards.
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"Tariff rates grab all the headlines, but non-tariff barriers are often just as important, if not more so, when it comes to determining market access," said National Cattlemen's Beef Association President Jennifer Houston.
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"On agriculture, where talks will likely focus on non-tariff barriers, Japan has already managed to gain greater leeway because it weakened the agricultural lobby's influence before signing the TPP," the Statfor note said.
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Yet as Monique Ebell of the National Institute of Economic and Social Research, a think-tank, points out, tariffs now matter less than non-tariff barriers, especially for services but also increasingly for goods.
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The move, however, has allowed the American icon to circumvent the region's tariff barriers and price its bikes more competitively, resulting in a 77% jump in sales in Southeast Asia during the June quarter.
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Let&aposs remove all tariffs, all non- tariff barriers, all subsidies and have complete total free trade between our countries and they all turned him down because they don&apost really want free trade.
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The TPP includes hundreds of practical and enforceable provisions that would increase trade and regulatory transparency, reduce market distortions, slash tariff and non-tariff barriers to American goods and services, and even reform NAFTA.
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At the start of Friday's talks, U.S. Commerce Secretary Wilbur Ross said the largest component of the deficit was automotive trade and many non-tariff barriers to U.S. auto exports to South Korea remained.
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" Yes, the cease-fire statement with European Commission President Jean-Claude Juncker said, "We agreed today ... to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.
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Many trade experts have blamed the weak South Korean economy, which has depressed demand for imports, but critics say non-tariff barriers have limited U.S. penetration of the South Korean market, particularly for automobiles.
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But that entails tariffs on good exports — up to 10 percent on car exports, for example, most of which go to the European Union — as well as non-tariff barriers that gum up trade.
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That means trade issues with Europe will have to remain at technical levels to iron out differences on market access and tariff and non-tariff barriers to trans-Atlantic flows of commerce and finance.
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The two sides also agreed to negotiate in the next 90 days over "structural changes" to China's policies on technology transfers, intellectual property protection, non-tariff barriers, cyber intrusions and theft, services and agriculture.
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So far Britain has not said formally that it wants to leave the European Union's customs union, which provides for tariff-free trade, or its single market, which removes non-tariff barriers, and Mrs.
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The negotiating objectives, required by Congress under the "fast-track trade negotiating authority law, will seek to boost trade between the countries by eliminating tariff and non-tariff barriers," the U.S. Trade Representative's Office said.
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No deal would mean falling back on WTO terms, implying not just non-tariff barriers and lost access to the single market but actual tariffs on exports of cars, pharmaceuticals, processed foods and much else.
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"The EU came into the conversation and they were open to the proposals we had made about getting rid of tariffs, non-tariff barriers and subsidies," said the official, who spoke on condition of anonymity.
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The negotiating objectives, required by Congress under the "fast-track trade negotiating authority law, will seek to boost trade between the countries by eliminating tariff and non-tariff barriers," the U.S. Trade Representative's office said.
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The U.S.-China Business Council – a U.S.-based advocacy organization - has dozens of technical recommendations, from non-tariff barriers in food to regulatory and legal dispute mechanisms to treatment of foreign retailers and government procurement.
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The White House said Trump and Xi agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.
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NAFTA which was signed in 1994 by the United States, Canada and Mexico removed most trade and tariff barriers between the neighbors, but Trump and other critics have blamed it for deep U.S. job cuts.
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If he carries through his threats to impose tariff barriers on manufactured goods from China and any other country deemed to be acting against his "America first" policy, it will be negative for commodity demand.
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But ultimately, the U.S. unilateral action will mean that economies of the EU, Australia, Canada, Mexico and others will all find it more difficult to pressure China to alleviate existing non-tariff barriers to trade.
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He's the toughest negotiator we've ever at the USTR and he's going to go chapter and verse and get tariffs down, non-tariff barriers down and end all these structural practices that prevent market access.
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"The TPP removes massive tariff barriers on U.S. beef exports to the Pacific Rim countries and establishes science-based and market-driven terms of trade that will benefit our industry for many years," Brunner wrote.
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The U.S. Trade Representative's office said in its negotiating objectives for the EU talks, published in January, that it would seek to reduce or eliminate EU tariffs and non-tariff barriers to U.S. farm products.
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Brushing off cries of protectionism, Mr. Mnuchin was preparing to press for a new trade deal between the United States and the European Union that would eliminate all tariffs and non-tariff barriers to trade.
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"I hope parties will sit down and talk and find a negotiated solution because the last thing we need at this point in time is an escalation of tariff barriers and trade restrictions," said Azevedo.
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U.S. President Donald Trump has vowed to increase tariffs on $200 billion worth of Chinese imports on March 2 if China fails to address intellectual property theft, forced technology transfers and other non-tariff barriers.
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However, he added that NAFTA negotiations remain an overhang for the sector and non-tariff barriers, and local content requirements or quotas on vehicle exports from Japan, may still be possible further down the line.
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But a softening of the joint draft statement's language on trade, removing a rejection of protectionism, speaks to a promised rise in U.S. tariff barriers which has so far largely been seen as dollar-positive.
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The government looked at how much impact the higher tariff and non-tariff barriers would have on trade and foreign investment, then at how these would reduce productivity, and how those factors combined would affect GDP.
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Trump has demanded better terms of trade with China, with the United States pressing Beijing to address issues that would require structural change such as intellectual property theft, forced technology transfers and other non-tariff barriers.
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On trade, at one point it seemed as though Mr Trump was in search of some sort of grand bargain, as he called for the end of all subsidies, tariffs and non-tariff barriers to trade.
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Yoo also said the partnership could boost two-way trade to more than $30 billion by 2022 with the removal of "many tariff barriers" and both South Korean and Indonesian companies would welcome improved market access.
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Yoo told reporters there were "several suspected cases of non-tariff barriers" following last year's decision to deploy the U.S. Terminal High Altitude Area Defense (THAAD) system and South Korea needed to determine China's "real intention".
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Meanwhile Patrick Minford, a leading member of the Economists for Britain group, said the Treasury was ignoring the potential upside from saving Britain's EU budget contribution, scrapping EU red tape and unilaterally abolishing all tariff barriers.
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It "fears that removing tariff barriers for Chinese imports would further erode India's domestic manufacturing market share at a time when the Indian government is trying to accelerate the development of India's manufacturing sector," Biswas said.
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Adesina said a continental free-trade zone launched last month, the African Continental Free Trade Area, could help speed up economic growth and development, but African nations needed to remove non-tariff barriers to boost trade.
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China opposes tariffs on goods, sure – but the government's expansive subsidies, low regard for IP rights, and generally high non-tariff barriers to investment are still acute problems for many of China's trade and investment partners.
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Identifying, reducing and eliminating non-tariff barriers at the borders and in regulations can save billions of dollars yearly and open up big market opportunities for small and medium enterprises, as well as the bigger companies.
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"If they just sign the agreement without opening the borders, without getting rid of non-tariff barriers and if they don't work on free movement of people, it is not going to work," analyst Kottoh said.
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By 2021, Beijing will have removed non-tariff barriers relating to food safety and approvals of genetically modified crops, allowing U.S. agricultural products to surge into China at the level Trump has boasted, the person said.
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It appears such non-tariff barriers could have a greater potential effect proportionately on European automakers, which collectively import a greater percentage of cars from plants outside the United States, according to sales figures from Autodata.
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"Many of the significant improvements in USMCA are reducing non-tariff barriers and implementing rules and fair practices that will help U.S. workers, jobs and businesses tremendously over the coming years," Grassley said in an emailed statement.
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Alan Winters, professor of economics at the University of Sussex, said non-tariff barriers, such as government support for state-backed enterprises or difficulties in securing permits, were bigger limitations on UK businesses competing for Chinese customers.
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TOKYO (Reuters) - The head of luxury British carmaker Aston Martin said on Thursday that non-tariff barriers to trade, which could slow down the export of the firm's top-end models, were his biggest concern about Brexit.
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However, top U.S. trade advisor, Peter Navarro, has already stated that trade between certain nations are not mutually beneficial, mentioning the U.S. trade deficit with Germany, Japan's non-tariff barriers, and the undervalued Chinese yuan as examples.
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"Elimination of industrial tariffs and non-tariff barriers only get us part of the way there, especially when we face major barriers to agricultural trade in the EU," Grassley, himself an Iowa farmer, said in a statement.
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The biggest opportunity for expanding trade will be for both nations to repeal all remaining tariff barriers on trade in goods and to remove all unnecessary regulations hampering the movement of goods, services, investment capital, and people.
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Speaking at the opening of a financial forum in Beijing, the U.S. ambassador, Terry Branstad, said there was still a chance to address issues such as non-tariff barriers, loss of intellectual property and forced technology transfers.
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Should the U.K. leave without a deal, the imposition of tariff and non-tariff barriers between the U.K. and its largest trading partner will be a major shock to the economy, a new report highlighted this month.
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"Any disruption to this critical trade through tariff or non-tariff barriers would be detrimental to U.S. farmers, Mexican livestock producers and ultimately consumers," said Ryan LeGrand, head of the Mexico office for the U.S. Grains Council.
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But the trade-related optimism was dampened as China offered little details on key issues such as forced technology transfers, intellectual property rights, tariff barriers and cyber attacks, while saying the meeting set a "foundation" to resolve differences.
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In addition, he told ABC's "This Week" that the broader issues were still in play, and that China had "structural reforms" such as lowering tariffs and non-tariff barriers that will allow the United States to boost exports.
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James Green, a senior adviser at McLarty Associates who until August was the top USTR official at the embassy in Beijing, said he expected China would increase non-tariff barriers on U.S. firms, such as delaying regulatory approvals.
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"The proposal to put temporary tariff barriers to protect one sector will lower vegetable consumption," said Carlos Visconti, CEO of Red Sun Farms which has greenhouses in Mexico and the United States, during the NAFTA round in Mexico.
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Lighthizer's office described the talks as constructive, adding that experts would meet in October to identify tariff and non-tariff barriers that could be cut, with the trade chiefs following that up in November to finalize certain results.
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S&P said it could revise its outlook to stable if negotiations with the EU provided more certainty for the economy, and if key sectors retained access to EU markets without penalizing tariffs or significant non-tariff barriers.
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"Frankly, all of this would have been moot if China had acted appropriately and fairly in many of the areas regarding intellectual property theft and non-tariff barriers that they have put up for many years," Perdue said.
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Canada's relationship with its neighbor to the south could be tested in coming years, with Trump promising to renegotiate the 1994 North American Free Trade Agreement aimed at removing tariff barriers between Canada, Mexico and the United States.
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The two countries' trade teams have been given until March 1st to agree on "structural changes" in China with respect to "forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture".
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The White House has said China had committed to start buying more American products and lifting tariff and non-tariff barriers immediately, while beginning talks on structural changes with respect to forced technology transfers and intellectual property protection.
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These would include the imposition of both tariff and non-tariff barriers on EU-bound U.K. exports; the loss of "passporting" rights, which allow U.K. financial services firms to operate throughout the union; withdrawal from the EU/U.
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He vowed to renegotiate such trade pacts as the North American Free Trade Agreement (NAFTA) and in future seek individual deals with single countries, while punishing unfair competition from such countries as China with taxes and tariff barriers.
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The countries focused this week on technology, intellectual property rights, agriculture, services, non-tariff barriers and currency, and discussed potential Chinese purchases of U.S. goods and services to reduce a "large and persistent bilateral trade deficit," Sanders said.
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China is more likely to further erect non-tariff barriers on U.S. goods, such as delaying regulatory approvals for agricultural products, said Green, who until August was the top U.S. Trade Representative official at the embassy in Beijing.
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A report this week said the imposition of tariff and non-tariff barriers between Britain and the EU will be a major shock to the economy, while sterling's predicted decline will drive up inflation and reduce real wages.
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Leaving abruptly without a deal would mean new customs and tariff barriers, and would put Britain under World Trade Organization trading rules, which economists say are less advantageous and do not fill in all of the relevant blanks.
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"We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods," Trump said at a press conference with European Commission President Jean-Claude Juncker.
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It applied a "zero tariffs, zero non-tariff barriers, and zero subsidies" goal only to non-auto industrial goods, and a joint statement from Trump and Juncker at the time made no mention of agricultural products beyond soybeans.
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In an interview on CNBC, Kudlow said the phase one part of the China trade deal was "for real" and went beyond Chinese purchases of U.S. agricultural products to include the opening of non-tariff barriers on agriculture.
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"By the time we get to manufacture, whatever has happened will have happened and the non-tariff barriers will have been overcome or we will have worked our way round them," Corporate Affairs Director Tom Crotty told Reuters.
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By eliminating trade tariffs and removing a thicket of regulatory and other non-tariff barriers, the TPP makes it possible for our companies to sell more Made-In-America semiconductors to the massive markets in the Asia-Pacific.
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Long run, I've spoken to the president many times, let's get rid of tariffs, let's get rid of non-tariff barriers, let's get rid of subsidies, let's stop the theft of IP, let's stop the forced transfer of technology.
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The damage from Brexit is also highlighted in a new joint study from Oliver Wyman, a consultancy, and Clifford Chance, a law firm, that looks at business costs from tariffs and non-tariff barriers under a WTO-only option.
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Reports show China's intellectual property theft costs U.S. companies hundreds of billions of dollars a year, and Chinese businesses have clearly benefited from a government-manipulated currency, goods dumping and non-tariff barriers at the expense of American firms.
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The report will look at each of America's trade partners and assess whether the country's trade practices unfairly discriminate against the U.S. Forms of discrimination the report will assess includes non-tariff barriers, anti-dumping and intellectual property theft.
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However, sterling's weakness most likely reflected the foreign exchange market's belief that when Brexit actually takes place, leaving the EU will raise costs for companies that trade internationally - whether through tariffs, non-tariff barriers or lower productivity, he said.
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One would think that manufacturing firms would become increasingly reluctant to locate new investment in the United Kingdom if they were to fear that it would be subject to non-tariff barriers once Britain exited Europe by March 85033.
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MIKE RAVENBuffalo, New York * Your article "Tear down these walls" (February 27th) covered a range of factors that impeded intra-African trade, such as tariffs and non-tariff barriers and overlapping memberships of African countries in regional trade bloc.
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U.S. and Chinese officials are working on arrangements for higher-level trade talks after mid-level officials this week discussed structural change in China to address issues such as IP theft, forced technology transfers and other non-tariff barriers.
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Estimates for the U.S. growth under TPP are 35 percent higher than those reported by Peterson in 85033, primarily because of the inclusion of new data such as the effects of non-tariff barriers on trade in existing agreements.
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ALL THIS PRESIDENT WANTS -- ALL THE PRESIDENT WANTS IS FREE, FAIR, RECIPROCAL TRADE, AND BY TAKING A STUFF STAND ON COUNTRIES THAT HAVE HI TARIFF BARRIERS WHO RESTRICT OUR INVESTMENT, THAT'S GOING TO LEAD US TO A BETTER PLACE.
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"We agreed today first of all to work together towards zero tariffs, zero non-tariff barriers and zero subsides for the non-auto industrial goods," Trump announced in a joint statement with Juncker in the White House Rose Garden.
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"We agreed today first of all to work together towards zero tariffs, zero non-tariff barriers and zero subsides for the non-auto industrial goods," Trump announced in a joint statement with Juncker in the White House Rose Garden.
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A senior administration official said Friday that the Chinese would commit to reducing tariff and non-tariff barriers that hinder American goods from flowing into that country, allowing an additional $250 billion of American sales to China by 2200.
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Bidwell were about the validity of tariff barriers imposed on Puerto Rico imports contrary to Uniformity Clause, Article I, Section 8 of the Constitution, which requires that "all Duties, Imposts and Excises shall be uniform throughout the United States".
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Both Mr. Ryan and Senator Mitch McConnell, Republican of Kentucky and the majority leader, supported a bill that gave Mr. Obama and his successor special "fast track" authority to negotiate trade agreements, and are proponents of reducing tariff barriers.
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The catch is, however, that Xi and Trump must find resolution on "forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture" within 90 days, according to the White House press secretary's statement.
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" But he said "certain conditions have to be met," listing intellectual property theft, forced technology transfer, ownership of American companies in China, high tariffs and non-tariff barriers on commodities, and commercial hacking as examples of issues that "must be solved.
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In the event of a no-deal Brexit, food imported to the UK would be hit by big tariffs (about 22 percent on average) as well as non-tariff barriers on food that could reach as high as 29 percent.
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After African Union heads of states and governments pick the host country on Sunday, they will unveil regulations governing issues like trade liberalisation, rules of origin, removal of non-tariff barriers and the development of a payments and settlements system.
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WASHINGTON (Reuters) - The United States on Thursday laid out objectives for a trade deal with the United Kingdom that would ensure fair and balanced trade, cut tariff and non-tariff barriers for U.S. industrial and agricultural goods and reduce regulatory differences.
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The two sides are working on broad agreements covering six areas: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources familiar with the progress of the talks.
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Reports of behind-the-scenes talks between Washington and Beijing spurred optimism that U.S. President Donald Trump's protectionist shift is more about gaining leverage in trade talks than isolating the world's biggest economy with tariff barriers that would stifle global growth.
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After African Union heads of states and governments pick the host country on Sunday, they will unveil regulations governing issues like trade liberalization, rules of origin, removal of non-tariff barriers and the development of a payments and settlements system.
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Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture, and non-tariff barriers to trade, according to two sources familiar with the progress of the talks.
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Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources familiar with the progress of the talks.
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"If I was to list my priorities from top to bottom I start with non-tariff barriers being the thing that I worry about the most," Palmer told reporters on the sidelines of a Japan-UK business forum in Tokyo.
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"This is a good time for Huawei to press the Chinese authorities to show that they want to cooperate with Poland, by giving up non-tariff barriers," Tadeusz Koscinski, Poland's deputy entrepreneurship and technology minister told Reuters in an interview.
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Meanwhile, the same countries with which we have a substantial deficit in the trade in goods prohibit US service providers from entering their national marketplaces, using non-tariff barriers like requiring the service provider to be locally licensed and owned.
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However, the relaxed limits are not yet a game changer, as substantial foreign inflows into the financial sector are unlikely without reforms to break down administrative and other non-tariff barriers that create an uneven playing field for foreign investors.
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The U.S. also wants to eliminate China's non-tariff barriers to trade, such as industrial subsidies, as well as regulations, licensing procedures, technical standards and other practices that discriminate against U.S. businesses and give an unfair advantage to their Chinese competitors.
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Building on the success of sub-regional economic integration initiatives such as the East African Community's (EAC's) common market, the AfCFTA will remove tariffs on up to 28500 percent of goods and non-tariff barriers to trade will be dismantled.
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More than a traditional free-trade area, the single market eases intra-EU commerce by reducing non-tariff barriers, facilitating capital flows and trade in services, and granting full mobility to European workers, a right 7m have chosen to exploit.
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" The report will assess causes of the trade deficit in goods, including "tariffs, non-tariff barriers, injurious dumping, injurious government subsidization, intellectual property theft, forced technology transfer…and any other form of discrimination against the commerce of the United States.
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"President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture," the White House said in a statement.
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Add to this the pressure being placed on China's steel exports from a number of countries implementing, or considering, tariff barriers and it's hard to see how a steel rally can last, unless there is actual evidence of rationalization at mills.
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WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer said on Tuesday that talks with South Korea to modify a free trade agreement were an opportunity to reduce non-tariff barriers and shrink a growing U.S. trade deficit with its Korean ally.
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However, "Leave" supporters have argued that the EU would have to conclude a quick free trade deal with London since the continent has a big trade surplus with the UK and stood to lose exports if tariff barriers were introduced.
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We want lower barriers across the board," he said, adding that specifically the United States is seeking "zero tariffs, zero non-tariff barriers, zero subsidies, stop the IP theft, stop the technology transfer, allow Americans to own their own companies.
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The central bank has said in its most pessimistic scenario, where increased tariff and non-tariff barriers significantly reduce trade flows between Ireland and the United Kingdom, Irish GDP could be 3.2 percent lower over a period of 10 years.
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In Buenos Aires in December, presidents Trump and Xi agreed to negotiate over structural issues, including "forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture," the White House said in a statement.
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"President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture," the White House said in a statement.
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A series of studies have looked at the potential effects of reducing tariff and non-tariff barriers across the Atlantic, with most finding a modest gain in overall GDP from a relatively ambitious agreement (0.3 to 0.5 percent of GDP).
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Add to this the pressure being placed on China's steel exports from a number of countries implementing, or considering, tariff barriers and it's hard to see how a steel rally can last, unless there is actual evidence of rationalisation at mills.
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Trump administration officials also object to non-tariff barriers in China, including industrial subsidies, regulations, business licensing procedures, product standards reviews and other practices that they say keep U.S. goods out of China or give an unfair advantage to domestic firms.
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"While there was agreement on less thorny issues such as agriculture and energy, US demands for verification and enforceable targets on intellectual-property rights, transfer of technologies and non-tariff barriers may not be that easily addressed," the note said.
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And China's mercantilist trade practices are indefensible, particularly its use of non-tariff barriers to discourage foreign companies from coming to China, its insistence that non-Chinese companies share their technology, its outright theft of intellectual property and on and on.
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A report this week said the imposition of tariff and non-tariff barriers between Britain and its largest trading partner will be a major shock to the economy, while sterling's predicted decline will drive up inflation and reduce real wages.
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In addition to the central demand that the talks include their goods, farm and food groups on Friday urged U.S. officials to address tariff barriers and other regulatory and labeling issues that curtail U.S. access to the lucrative European market.
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Rather than focusing on ways to restrict trade, the Trump administration and Congress should focus on increasing Americans' freedom to trade by lowering tariff and non-tariff barriers and negotiating new trade agreements that expand markets both overseas and at home.
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The two countries have been making progress nailing down text in the form of Memoranda of Understanding in six areas: non-tariff barriers, forced technology transfers, intellectual property, cyber theft, agriculture and currency, according to public statements from both countries.
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Trump told the U.S. Congress this week that Washington and Tokyo had struck trade agreements on tariff barriers and digital trade but stopped short of assuring Japan that national security tariffs would not be imposed on its vehicles and auto parts.
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They add that it will need ratification by national and some regional parliaments: a court ruling that a simple trade deal can be approved by a majority cannot apply to one that covers many services, regulatory standards and non-tariff barriers as well.
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WASHINGTON, Feb 28 (Reuters) - The United States on Thursday laid out objectives for a trade deal with the United Kingdom that would ensure fair and balanced trade, cut tariff and non-tariff barriers for U.S. industrial and agricultural goods and reduce regulatory differences.
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U.S. President Donald Trump's administration is currently locked in a bitter dispute with Beijing that has the two sides arguing over not just the tariffs and non-tariff barriers affecting the balance of trade, but also how they fundamentally treat each other's companies.
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Imported fuel prices declined last month for the first time this year, signaling how much the U.S. price stability can be negatively impacted by rising world energy costs and supply disruptions caused by tariff and non-tariff barriers to international trade flows.
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Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, the sources said, as the two sides push for an agreement by March 217.
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The countries focused this week on the U.S. trade priorities involving technology, intellectual property rights, agriculture, services, non-tariff barriers, and currency, and discussed potential Chinese purchases of U.S. goods and services to reduce a "large and persistent bilateral trade deficit," Sanders said.
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It made reference to goals set forth in a statement issued by the White House to negotiate over a 90-day period structural changes by China on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and theft, services and agriculture.
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It's also highly likely that if the United States does start to raise tariff barriers, trading partners will respond with barriers of their own, which would have a significant impact on the flow of goods and services, especially in the Pacific area.
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The objectives, required by Congress under the "fast-track" trade negotiating authority law, seek to reduce or eliminate EU tariffs on U.S. farm products and break down non-tariff barriers, including on products developed through biotechnology, the U.S. Trade Representative's (USTR) office said.
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The Associated Press reports that as many as 371 companies have received waivers for importing steel from countries such as China and Japan without the normal tariff barriers, which the Trump administration imposed last year as part of an escalating trade war.
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The model weighs the effects of the 63 regional trade agreements that have been concluded among TPP partners as the baseline for its assumptions and examines projected changes in tariff and non-tariff barriers as well as barriers on foreign direct investment.
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This is precisely why the president should stop focusing on demanding outcomes he cannot control and start focusing on negotiating rules he can secure—rules that remove tariffs and non-tariff barriers, establish strong intellectual property protections, and clear means of dispute settlement.
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In the soaring rhetoric of the referendum, they had glossed over a stubborn problem: Leaving the European customs union, which eliminated tariff barriers on goods, would mean creating a physical border between Northern Ireland and Ireland, a member of the European Union.
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He said G-7 allies were taking seriously his calls to eliminate tariffs, non-tariff barriers and subsidies among the group, and the Trump administration would pursue such ideas in trade talks next week with European Commission President Jean-Claude Juncker in Washington.
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Yes, part of increasing our own competitiveness will require pushing back against certain unfair Chinese trade practices, such as currency misalignment (artificially depressing the value of their currency to bolster their trade balance), non-tariff barriers and dumping specific exports below cost.
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WASHINGTON, Aug 22 (Reuters) - U.S. Trade Representative Robert Lighthizer said on Tuesday that talks with South Korea to modify a free trade agreement were an opportunity to reduce non-tariff barriers and shrink a growing U.S. trade deficit with its Korean ally.
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When iPhones move from China to America, or bottles of Scotch whisky from the European Union to India, it is the WTO's rules that keep tariff and non-tariff barriers low and give companies the certainty they need to plan and invest.
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"It is easy and cheaper to buy in Asia than to buy in the sub-region because of less-flexible rules of origin and non-tariff barriers that are not clear," said Meriem Bensalah-Chaqroun, head of the Moroccan Confederation of Businesses.
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"It is important that India make greater efforts to lower barriers to trade, including tariff and non-tariff barriers, which will lower prices to consumers, promote development of value chains in India," said the State Department spokesperson, referring to Trump's comments on motorbikes.
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Crozier, who voted to remain in the EU, says the government has not provided enough information for him to predict what impact EU tariff barriers might have on the company, which employs 54 staff and produces parts used in everything from plumbing to kettles.
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As the Journal's Bob Davis notes, Trump and Xi didn't reach a resolution on some of the major differences that had set off the trade war in the first place, including forced technology transfers, intellectual property theft, non-tariff barriers to Chinese markets and cyberespionage.
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Mnuchin: Well I'm not going to comment on the specifics of the Fedex situation but what I would say is in negotiating our agreement, one of the big parts of the agreement has always been about non-tariff barriers is about forced technology transfer.
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"With both sides expressing a desire to resume talks, we see increasing chances of some sort of 'ceasefire,' in which the two sides will agree to halt further escalation of tariffs and/or non-tariff barriers while high-level negotiations take place," Barclays said.
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A Brexit without a deal would certainly be bad for the EU. But it would be much worse for Britain: goods would back up with no customs agreement, air travel would stop without an aviation deal, tariffs and non-tariff barriers would appear overnight.
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TECH-TAC-TOE Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, two sources familiar with the progress of the talks told Reuters in Washington.
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U.S. and Chinese officials are working on arrangements for higher-level trade talks after mid-level officials this week discussed U.S. demands that would require structural change in China to address issues such as IP theft, forced technology transfers and other non-tariff barriers.
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There was no mention of active disputes between the United States and Canada over softwood lumber and dairy products, but the document targeted a range of agricultural non-tariff barriers, including subsidies and unfair pricing structures, that are currently at the heart of those standoffs.
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Firms across the EU's 27 countries other than Britain will have to pay 31 billion pounds a year in tariff and non-tariff barriers if Britain leaves the bloc without a deal, the report by Oliver Wyman management consultants and law firm Clifford Chance said.
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On top of this, the current trade spat between Boeing and Bombardier concerning subsidies and tariff barriers is symptomatic of a world now full of geopolitical uncertainties and question marks, many of which are affecting the airlines who normally do business at the Dubai Airshow.
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The USMCA includes numerous provisions that are necessary to continue the growth of our country&aposs innovation economy, including increasing access to Canadian and Mexican markets for US manufacturers, lowering non-tariff barriers, enhancing regulatory cooperation, and creating a level playing field for American workers.
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"The U.S. must make it clear that any discussions of a bilateral agreement would address currency manipulation, eliminate all of the non-tariff barriers, include provisions to prevent new barriers, and link any U.S. tariff reduction to demonstrable opening of the Japanese market," they said.
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"President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture," said the White House in a statement at the time.
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The negotiating objectives, required by Congress under the "fast-track" trade negotiating authority law, will seek to reduce or eliminate EU tariffs on U.S. farm products and break down non-tariff barriers, including those on products developed through biotechnology, the U.S. Trade Representative's office said.
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TECH-TAC-TOE Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, two sources familiar with the progress of the talks told Reuters in Washington.
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"Today, NFTC joined the U.S. auto industry in opposing new tariff barriers on autos and auto parts under Section 6900 because such action will cause greater harm than good to America's auto industry, which is now the world's most competitive and dynamic producer," Yerxa said.
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Trade experts, including a KORUS negotiator, said potential demands from the Trump administration for renegotiation are likely to include provisions to knock down remaining non-tariff barriers to Korean imports of U.S. autos, an area where KORUS benefits have fallen far short of expectations.
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President Trump and European Commission President Jean-Claude Juncker announced Wednesday that they will open negotiations to, as Trump put it, "work toward zero tariffs, zero non-tariff barriers and zero subsidies," and hold off on any further tariffs unless either side terminates the negotiations.
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"We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods," Trump said at a joint press conference in the White House Rose Garden with European Commission President Jean-Claude Juncker.
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Presiding over a department with 21988,21973 employees and a $22001 billion budget (about $6 billion today), he traveled abroad often, generally seeking to break down tariff barriers and negotiate a freer flow of goods and services among the United States and its trading partners.
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"The Chinese government in its totality must not underestimate President (Donald) Trump's toughness and willingness to continue this battle, to eliminate tariffs and non-tariff barriers and quotas, to stop the theft of intellectual property and to stop the forced transfer of technology," Kudlow added.
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"We're covering issues that have never really been covered before, including enforcement," Kudlow said, listing U.S. accusations that Beijing engages in intellectual property theft, forced transfer of technology from U.S. companies doing business in China, cyber hacking, tariffs and non-tariff barriers for commodity trading.
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The 79-year-old billionaire investor said in his prepared opening statement that his wide-ranging investments had given him first-hand experience of the unfair trading practices of other countries, including non-tariff barriers to imports and government subsidies for exports to the United States.
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A free-trade deal is unlikely to cover financial services, so banks would lose the EU "passport" that entitles them to trade from London across the EU. Britain would also face customs and rules-of-origin controls, as well as many non-tariff barriers, especially in services.
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The center-right leader said a tariff-free area among G7 allies would be an ideal outcome, but she made clear that any talks about such a trade bloc would have to include non-tariff barriers to trade as well as free access to public tenders.
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U.S. and Chinese officials are working on arrangements for higher-level trade talks after mid-level officials this week discussed U.S. demands on issues that would require structural change in China to address issues such as IP theft, forced technology transfers and other non-tariff barriers.
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They include forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, the sources said, adding the two sides were pushing for an agreement by a March 257.08 deadline, after which U.S. tariffs on Chinese imports will ratchet up.
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They include forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, the sources said, adding the sides were pushing for an agreement by March 20.1, the deadline after which U.S. tariffs on Chinese imports will ratchet up.
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The White House says Beijing agreed to buy an unspecified but "very substantial" amount of agricultural, energy, industrial and other products, and that China and the U.S. would launch new trade talks to address issues including technology transfer, intellectual property, non-tariff barriers, cyber theft and agriculture.
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" Kudlow said the Chinese offer included energy and farm commodities purchases, adding "the number is a good number," adding that China would also need to lower non-tariff barriers and agree to a "verifiable process whereby the technology transfers and the theft of intellectual property stops.
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And let's not forget, we've had a very unfair relationship with China down through the years: IP theft, forced transfer of technology, cyberspace, tariffs, non-tariff barriers and so forth and so on, I could go down a long laundry list of structural and nonstructural issues.
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" Kudlow said the Chinese offer included energy and farm commodities purchases, adding "the number is a good number," adding that China would also need to lower non-tariff barriers and agree to a "verifiable process whereby the technology transfers and the theft of intellectual property stops.
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"We will continue to lower overall tariffs voluntarily, remove non-tariff barriers, actively increase the import of goods and services, and enhance import facilitation," Premier Li Keqiang said in a speech on July 2 in Dalian, China, at the "summer Davos" session of the World Economic Forum.
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SECOND POINT I'D MAKE IS THE CHINESE GOVERNMENT IN ITS TOTALITY MUST NOT UNDERESTIMATE PRESIDENT TRUMP'S TOUGHNESS AND WILLINGNESS TO CONTINUE THIS BATTLE, TO ELIMINATE TARIFFS AND NON-TARIFF BARRIERS AND QUOTAS, TO STOP THE THEFT OF INTELLECTUAL PROPERTY AND TO STOP THE FORCED TRANSFER OF TECHNOLOGY.
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"Some of the areas on which there's a multitude of non-tariff barriers, some of the areas where those have been stripped away are beef, poultry, seafood, rice, dairy, infant formula, animal feed, feed additives, pet food and a variety of other agriculture biotechnology products," he said.
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"We are just at the beginning phase of the trade war, and as tariff barriers rise they will pressure currencies for further weakness, and both these factors will pressure prices higher, thus further souring investor sentiment for the bond market," said Prakash Sakpal, Asia economist at ING in Singapore.
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Non-tariff barriers to trade proliferate: the latest to have foreign firms fretting is a law requiring all food, beverages, cosmetics and medicines sold in the country, along with the machines used to make them, to satisfy stringent halal-certification rules set by the ministry of religious affairs.
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WE HAD PROGRESS, NOT COMPLETION, MIND YOU, NOT COMPLETION, BUT WE HAD GOOD PROGRESS ON IP THEFT, AND OWNERSHIP OF COMPANIES, AND FORCED TRANSFERS OF TECHNOLOGY, AND AGRICULTURE, TARIFF AND NON-TARIFF BARRIERS COMING DOWN, NON-FARM BARRIERS COMING DOWN, CYBER SPACE, HACKING, AND PERHAPS MOST IMPORTANTLY, ENFORCEMENT.
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"[Chinese Vice Premier Liu He] said several times, and I pushed him on this, that the China changes with respect to tariffs and non-tariff barriers and other structural issues that we'll get into in a few moments would begin immediately," Kudlow said on a call with reporters.
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They point to a speech on February 27th by Dr Fox, in which the usually gung-ho Brexiteer insisted that Britain could use a range of flexible, agile tools to boost global trade, from agreements to remove non-tariff barriers, to the mutual recognition of standards and qualifications.
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Trump's latest agreement was not to raise tariffs as planned at the beginning of 2019 if both sides could reach a resolution on "forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture" within 90 days, according to the White House.
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"He's the toughest negotiator we've ever had at the USTR and he's going to go chapter and verse and get tariffs down, non-tariff barriers down and end all these structural practices that prevent market access," White House trade adviser Peter Navarro told National Public Radio earlier on Monday.
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In addition to the increased access for American vehicles that meet U.S. but not necessarily South Korean safety standards, the U.S. officials also said they won reductions in non-tariff barriers to U.S. vehicle sales, including elimination of duplicate environmental testing requirements and recognition of U.S. replacement parts standards.
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At its policy meeting last month, the central bank maintained that inflation would peak in September and slowly ease back to within its 2-4 percent target next year, due to a combination of monetary and non-monetary measures including removing non-tariff barriers to certain agricultural imports.
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Without enforcement to be sure that everyone is playing by rules, trade becomes a free-for-all, and a race to the bottom in terms of government subsidies, non-tariff barriers, and any number of other illegal schemes designed to give companies and countries an advantage over their competitors.
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"He's the toughest negotiator we've ever had at the USTR and he's going to go chapter and verse and get tariffs down, non-tariff barriers down and end all these structural practices that prevent market access," White House trade adviser Peter Navarro told National Public Radio on Monday.
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Should the U.K. leave without a deal, the imposition of tariff and non-tariff barriers between the U.K. and its largest trading partner will be a major shock to the economy, the report highlights, while the continued fall in the pound will drive up inflation and reduce real wages.
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" During the talks at the G-20 meeting, the two superpowers agreed to delay additional taxes on each other's goods for the next 90 days — during which time they will try to overcome difficult differences including "forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft.
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AUTOS UNTOUCHED A U.S. business official briefed on the deal said Lighthizer's office confirmed that the "first stage" agreement would reduce tariffs on select industrial goods from Japan but would not reduce U.S. tariffs on autos or auto parts from Japan, nor address non-tariff barriers such as currency issues.
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Kudlow, who directs the White House National Economic Council, acknowledged that there are still issues to be resolved, and the Trump administration will focus heavily on ways to hold China to keep its reform promises and curbing intellectual property theft and forced technology transfers and lowering tariff and non-tariff barriers.
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And, really looking at the pages, looking at the documents, whether it's all the structural issues, you know, I.P. theft and forced technology transfers and ownership, we're making great headway on non-tariff barriers and tariffs regarding, you know, various commodities such as soybeans and energy and beef and whanot.
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Desiree Hoffman, UAW international representative, said that despite zero tariffs on vehicle imports, Japan's auto market is largely closed due to non-tariff barriers such as Japan-specific regulatory, safety and emissions standards and currency manipulation to push down the value of the yen, putting U.S. producers at a disadvantage.
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But having the Commerce report ready for action would underscore a consistent threat from President Donald Trump - that he would impose tariffs on autos and auto parts unless the EU and Japan make trade concessions including lowering the EU's 10 percent tariff on imported vehicles and cutting non-tariff barriers.
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"Despite White House economic advisor (Larry) Kudlow suggesting that the two sides are 'pretty close' on an agreement on intellectual property theft, 90 days still looks like a short period for discussions on complicated issues such as non-tariff barriers," wrote Zhu Huani, an economist at Mizuho Bank in a note on Tuesday.
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As we have repeatedly emphasised during the referendum campaign and since, the best economic option is for us to open up our markets in food and manufacturing to the world by scrapping the EU's protectionist tariffs and non-tariff barriers on these goods, just as we have always had open markets in services.
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But since the deal includes the other NAFTA members (Canada and Mexico) and four other countries with which America already has bilateral free-trade agreements, most of it focuses on "behind the border" non-tariff barriers: ie, on harmonising regulations, removing privileges for state-owned enterprises, protecting intellectual property and so on.
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In addition to increased access for American vehicles that meet U.S. but not necessarily South Korean safety standards, U.S. officials said they won reductions in non-tariff barriers to U.S. vehicle sales in the world's 0003th largest vehicle market, including elimination of duplicate environmental testing requirements and recognition of U.S. replacement parts standards.
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It's a baseline expectation that is supported by a simple game theory analysis that shows that steps taken by the U.S. to reinforce the credibility of its protectionist threats increases the likelihood that China would eventually accede to legitimate requests regarding intellectual property rights, joint venture requirements and other asymmetrical non-tariff barriers.
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U.S. President Donald Trump is currently considering whether to impose similar "Section 232" tariffs on imported autos and auto parts on national security grounds, an action widely seen as a tool to gain negotiating leverage over the EU and Japan to lower their tariffs and non-tariff barriers to U.S. auto imports.
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But if it's to bring about a substantive change in China's negotiating posture toward a bilateral trade agreement, one that might usher in changes in China's trade policy, addressing questions of forced technology transfers, intellectual property theft, industrial subsidies, currency manipulation and a phalanx of other non-tariff barriers, I'm not so sure.
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Gary Clyde Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, said that George W. Bush granting China the status of permanent normal trade relations in 0003 was "far bigger" than Trump's preliminary deal with China, covering a far greater number of subjects (tariffs, non-tariff barriers, investment and others).
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If Britain were to leave the EU without a deal, it would still face demands for money, and its trade would revert to normal World Trade Organisation terms, which would imply tariffs on exports of cars, car parts, pharmaceuticals, farm products and much else, as well as non-tariff barriers for financial and other services.
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An index devised by The Economist Intelligence Unit (EIU), our sister company, gauges the views of EU states on the four core negotiating issues: the amount of money Britain will have to pay to leave; the four EU freedoms (movement of goods, services, workers and capital); trade arrangements and tariff barriers; and defence ties.
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"We are ready to negotiate and talk with China any time that they are ready for serious and substantive negotiations toward free trade to reduce tariffs and non-tariff barriers, to open markets, to allow the most competitive economy in the world, ours, to export more and more goods and services to China," Kudlow said.
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In April, Chinese state media reported that negotiators had "reached new consensus on such important issues as the text of the ... trade agreement," while the White House said the talks beginning this week would "cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement," suggesting they were entering their end stage.
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If Britain wants to benefit fully from the single market, which eliminates all tariff and most non-tariff barriers as well as customs controls, it will have to abide by most European laws, including the free movement of people from other EU countries and a huge clutch of single-market regulations that are ultimately enforced by the European Court.
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Trump has vowed to increase tariffs on $200 billion worth of Chinese imports on March 2 if China fails to take steps to protect U.S. intellectual property, end policies that force American companies to turn over technology to a Chinese partner, allow more market access for U.S. businesses and reduce other non-tariff barriers to American products.
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"The way to manage this, for us at least in the region, is to continue strengthening our regional integration," said Guinigundo: "If we can strengthen our regional integration and address other remaining outstanding issues like non-tariff barriers, that could really be a counterweight to whatever we can expect from any escalation in a trade war."
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Without access to the Single Market, UK companies selling goods or services to the EU would be treated like any other country outside the EU that also does not have a trade or other treaty with the bloc — meaning tariffs, non-tariff barriers and long-since-mothballed customs checks and administration coming into sudden, unwelcome force.
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However, Qualcomm Inc said on Monday it was not looking to revive its abandoned $44 billion acquisition of Dutch peer NXP Semiconductors NV. The White House said Trump and Xi agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.
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"Few people could hope to gain from such a change," they argued, noting: Miners, construction, transportation and public utility workers, professional people and those employed in banks, hotels, newspaper offices, in the wholesale and retail trades, and scores of other occupations would clearly lose, since they produce no products which could be protected by tariff barriers.
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Why it matters: Perdue placed the blame for the "trade disruptions we're experiencing" on China and its non-tariff barriers, and claimed that while President Trump's tariffs may be making his job more challenging in the short-term, he expects it to pay off in the long-term and for all trade issues to be resolved in the next six months.
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" But even though the new EU-targeting sanctions will be entirely permissible under WTO rules, he told CNBC's Joumanna Bercetche in an interview Thursday that he hoped the US and EU would "sit down, talk and find a negotiated solution, because the last thing we need at this point in time is an escalation of tariff barriers and trade restrictions.
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Trump has vowed to increase tariffs to 25 percent from 10 percent on $200 billion worth of Chinese imports on March 2 unless China takes steps to protect U.S. intellectual property, end policies that force American companies to turn over technology to a Chinese partner, allow more market access for U.S. businesses and reduce other non-tariff barriers to American products.
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"If we see China tensions ramp up again on the trade front and moving further into more non- tariff barriers, from China in particular but also from the U.S., you could see a much bigger hit to confidence levels on business and supply chains that are already being challenged," said Beth Ann Bovino, chief U.S. economist at S&P Global.
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The meetings were held as part of the agreement reached by President Donald J. Trump and President Xi Jinping in Buenos Aires to engage in 90 days of negotiations with a view to achieving needed structural changes in China with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft of trade secrets for commercial purposes, services, and agriculture.
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U.S. President Donald Trump has vowed to increase tariffs to 25 percent from 10 percent on $200 billion worth of Chinese imports on March 2 unless China takes steps to protect U.S. intellectual property, end policies that force American companies to turn over technology to a Chinese partner, allow more market access for U.S. businesses and reduce other non-tariff barriers to American products.
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China is the black hole for most of our software and tech companies… It is not unusual for our portfolio companies to sell more to Australia, with less than 1/50th the number of people, than in China, where the only explanations I can think of are that China is putting up non-tariff barriers through either regulations or implicit government instructions to not buy American.
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"While all likely Brexit outcomes will entail costs for the U.K. economy by departing from the frictionless single market that now prevails, an agreement that minimizes the introduction of new tariff and non-tariff barriers would best protect growth and incomes in the U.K. and EU," the IMF said in its latest report on the outlook and risks to the world economy, published Monday.
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For example, the Obama-Clinton team never fully analyzed what products South Korea was importing from somewhere other than the U.S. but with some help from the Korean government could have been imported from the U.S. There are also non-tariff barriers (NTB) our trading partners regularly use to offset lowered tariffs — we experienced the same kind of tactics with Japan in the 1980s, so we should be on guard.
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Politicians on both sides of the Atlantic are pushing for a deal known as the Transatlantic Trade and Investment Partnership (TTIP) to eliminate all tariff barriers between the United States and 83-member EU. Hungary's car sector, where the key players are German Daimler and Audi, GM's European division Opel and Japanese Suzuki, accounts for over a fifth of industrial output and more than a tenth of exports.
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Supporters of Brexit have long said striking trade deals around the world would represent one of the big potential gains for Britain from leaving the EU. If instead it stayed in a customs union with the EU, Britain could avoid tariff barriers for its exports to the bloc as well as the risk of a return to a so-called hard border between Northern Ireland and the Republic of Ireland, a prospect that alarms many in Dublin and Belfast.
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The EU customs union eliminates tariffs as well as non-tariff barriers (quotas, for example) among EU member states, and it forces the bloc to operate as a single unit when trading with countries outside the EU. So, for instance, Germany, the UK, and France would all have to set the same tariffs when trading cars with the US. This also means that individual countries are largely restricted from striking their own, country-specific trade deals.
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It's clear that when President Trump came into office, and this is something that we detailed extensively in the Economic Report of the president, that there were massive asymmetries in trade deals around the world, that the US had opened up our markets to countries that didn't really open their markets up to us, either by keeping tariffs in place like China's 25% tariff on our autos or with non-tariff barriers that we saw in the auto industry in Korea and we see all over the European relationship.
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The talks covered a wide range of issues, including: (1) the ways in which United States companies are pressured to transfer technology to Chinese companies; (2) the need for stronger protection and enforcement of intellectual property rights in China; (3) the numerous tariff and non-tariff barriers faced by United States companies in China; (4) the harm resulting from China's cyber-theft of United States commercial property; (5) how market-distorting forces, including subsidies and state-owned enterprises, can lead to excess capacity; (6) the need to remove market barriers and tariffs that limit United States sales of manufactured goods, services, and agriculture to China; and (7) the role of currencies in the United States–China trading relationship.
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