G20 sees need for 'dialogue,' fails to defuse trade war threat

The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to defuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China.

  • Import taxes to be cut on some electric, IT products

    HA NOI — The Ministry of Finance will reduce import taxes on some electric, information and technology products to 5 per cent from January, according to its commitment under the Free Trade Agreement.

  • Taiwan, Israel to set up free-trade pact working group

    Highlighting its determination to enhance trade ties with foreign partners, the Ministry of Economic Affairs yesterday announced that Taiwan and Israel had reached a consensus over the establishment of a working group to study the feasibility of signing a free-trade agreement (FTA) by 2013.

  • Nigeria raises tariff on imported wheat

    The Nigerian government has raised the tariff for imported wheat as part of its efforts to promote the substitution of wheat flour with 40 percent high quality cassava flour in bread.

  • Vietnam to continue implementing WTO's agreement on technical barriers to trade

    Vietnam will continue to implement the agreement on Technical Barriers to Trade (TBT) in lines with its commitments to the World Trade Organization (WTO), according to a statement on Friday.

  • Philippines to review alcohol taxes after WTO ruling

    The Philippines will review taxes on foreign alcohol products following a World Trade Organisation decision that the current system was discriminatory and the trade minister said the government will look at how to assist affected local distillers.

  • WTO Reaches Deal Expanding Government-Procurement Contracts

    After more than a decade of negotiations, the World Trade Organization today clinched an agreement that opens up government-procurement contracts to more foreign competition.

  • WTO Meeting Fails to Make Progress on Global Trade Negotiations

    The World Trade Organization wrapped up its ministerial meeting yesterday without deciding how to revive global commerce talks, focusing instead on welcoming Russia to the fold and securing a government-procurement accord.

  • China To Keep Import Tariffs Low In 2012

    The State Council has confirmed that, from January 1, 2012, China’s average tariffs will remain at a low rate, to expand imports and meet consumer demand, promote more balanced foreign trading relationships, and, thereby, encourage a restructuring of the economy.