China has accused the European Union is breaching trade principles with its proposal to impose a so-called carbon border tax that would push up the prices of non-EU products sold in the bloc to account for their carbon footprint. “CBAM is essentially a unilateral measure to extend the climate change issue to the trade sector. […]
Britain is set to introduce new regulations to help defend its steel industry after accepting a recommendation from its newly established Trade Remedies Authority (TRA) to scrap some quotas on imports. Trade minister Liz Truss said the government only had the option of accepting or rejecting the recommendations in full, which said quotas and tariffs […]
The long-grained aromatic Basmati rice, grown in the foothills of the Himalayas and in the Indo-Gangetic belt and in some areas of Pakistan, finds the itself in the thick of a stormy tussle between the two neighbours over the right to protected geographical identification (PGI) trademark in the European Union. “In 2018, India had filed […]
The European Union (EU) is trying to establish a “New Basmati Authenticity Protocol.” This comes in the wake of India’s effort to obtain a 3-month extension from EU to resolve is dispute with Pakistan over Protected Geographical Indication (PGI) status for Basmati rice. The Food Authenticity Research Network, a part of the European Commission, did a detailed […]
India’s exports of marine products fell by 10.88 per cent to $ 5.96 billion (Rs 43,717.26 crore) during 2020-21 due to the pandemic and sluggish overseas markets, the commerce ministry said. “The COVID-19 pandemic and sluggish overseas markets cast their shadow over India’s resurgent seafood sector as the country exported 11,49,341 tonnes of marine products worth $ 5.96 billion,” it said. The ministry said that the US, China […]
Natural gas and coal prices have risen since the start of 2021, albeit with significant fluctuations in the first quarter. Prices have gone up by rebounding global economic activity, bouts of very cold weather in northeast Asia and the U.S., and several supply disruptions. Prices are expected to average around one-third higher in 2021 than […]
Even as buyers in Peru, Argentina, and other South American and Eastern African countries are queuing up for the taste of the highly flavoured Indian basmati rice, its exports to West Asian nations are likely to take a hit owing to the recent move by some to tighten pesticide residue norms without prior intimation. Naturally, […]
Countries around the world raised US $53 billion last year by charging firms for emitting carbon dioxide (CO2), up almost 18 per cent from 2019 as some imposed new levies and prices in some existing schemes rose, the World Bank said in a report on Tuesday. Many countries are using a price on carbon to […]
U.S. Trade Representative Katherine Tai called on Congress to modernize the Cold War-era law that former President Donald Trump used to impose tariffs on imported steel and aluminum. In a testimony before the Senate Finance Committee, Tai said that the authorities under Section 232 of the Trade Act of 1962, were not necessarily well-suited to […]
During trade negotiations last week, India and the EU have agreed to enhance the bilateral trade and investment relationship through the resumption of negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement, eight years after its suspension. The two sides have also agreed to launch negotiations for two key pacts on investment protection […]
