Home > 2023 > Trade Update – 21st August 2023: AUSTRALIA LOOKS TO GREEN TARIFFS, BUT OPPOSITION CLAIMS PROTECTIONISM, INDONESIA & EU LAUNCH BIODIESEL CHALLENGES and many more…

Trade Update – 21st August 2023: AUSTRALIA LOOKS TO GREEN TARIFFS, BUT OPPOSITION CLAIMS PROTECTIONISM, INDONESIA & EU LAUNCH BIODIESEL CHALLENGES and many more…

Trade Update – 21st August 2023: AUSTRALIA LOOKS TO GREEN TARIFFS, BUT OPPOSITION CLAIMS PROTECTIONISM, INDONESIA & EU LAUNCH BIODIESEL CHALLENGES and many more…

Weekly trade review provided by Chatto Creek Advisory Pty. 

Chatto Creek Advisory Pty Ltd is a Melbourne-based strategic consultancy specialising in trade policy advice and government engagement strategy. It is headed by Russell Scoular, an executive with rich government relations, trade policy, and business experience throughout the Asia Pacific.


 

AUSTRALIA LOOKS TO GREEN TARIFFS: Australia is to investigate the feasibility of implementing a carbon border adjustment mechanism on imported goods such as steel and cement as part of a study on carbon leakage risks. Climate Change Minister Bowen expects the study to be finalised in the third quarter of 2024.

BUT OPPOSITION CLAIMS PROTECTIONISM: Australian Shadow Trade Minister Kevin Hogan hit out at the prospect of a carbon border adjustment mechanism on imports from such economies as China, India and Vietnam. It was an “ugly return of protectionism” which would hike costs for manufacturing and housing.

INDONESIA & EU LAUNCH BIODIESEL CHALLENGES: Indonesia begun dispute action against the EU at the WTO regarding countervailing duties on shipments of biodiesel. Meanwhile the EU has launched an investigation into claims Indonesia is circumventing the duties by shipping biodiesel via China and the UK.

TRADE MINISTERS HEAD FOR INDIA: Trade Ministers and senior officials from the G20 economies will be in Jaipur this week for a series of summit meetings. A focus of the meetings will be reform challenges at the WTO. The meetings will be followed by the G20 Leaders’ Summit in New Delhi on September 9-10.

AUSTRALIA TO BOOST PRODUCE EXPORTS: Australia has announced a major new initiative to boost its horticulture exports. The Fresh and Secure Trade Alliance will invest $130 million over eight years. Its work will include the delivery of robust and timely biosecurity datasets to support market access negotiations.

TAIWAN & US TALK TRADE IN SECOND ROUND: Trade negotiators from Taiwan and the US met in Washington DC during the week for a second negotiating round of the US-Taiwan Initiative on 21st Century Trade. The talks focussed on proposed texts for such topics as agriculture, labour and the environment.

PHILIPPINES PURSUES RICE IMPORTS: The Philippines is negotiating with Vietnam and India for additional supplies of between 300,000 and 500,000 tonnes of rice as it seeks to boost its national rice inventory following typhoon losses. President Marcos has also instructed officials to closely monitor domestic prices.

INDIA’S CABINET APPROVES AUSTRALIAN AGREEMENT: India’s Cabinet has approved a mutual recognition arrangement between India and Australia. When implemented it will provide reciprocal benefits to exporters under Australia’s Trusted Trader Program and India’s Authorized Economic Operator Program.

VIETNAM & US CONTINUE LENGTHY FISH TALKS: Vietnam and the US have secured a further delay to the circulation of a WTO Dispute Panel report while they continue talks to resolve a long-running anti-dumping dispute involving fish fillets. The report’s circulation has been postponed a number of times since 2020.

WTO PANEL RULES AGAINST CHINA: A WTO Dispute Panel has ruled China breached trade rules by imposing duties on US products in response to US duties on steel and aluminium. A USTR spokesman said China’s use of the WTO to challenge US security actions had caused grave systemic damage to the WTO.

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