Search results for WTO
Mobility
China to cut plug-in hybrid exports by 50 percent; EU trades off with tariff cuts
The European Union and China agreed to halve exports of Chinese plug-in hybrid vehicles to the EU over the next four years. In return, China will cut tariffs on some European products and keep export licensing procedures for rare earths and permanent magnets to the EU running smoothly. The deal follows EU tariffs on Chinese electric vehicles and a subsequent rise in Chinese PHEV exports, and both sides said it complies with WTO rules.
Crypto
Stablecoins account for 3 percent of international payments; WTO says regulation, not technology, is the problem
Stablecoins have the potential to reduce the cost and time of cross-border payments, but differing national regulatory systems are blocking wider adoption, the World Trade Organization said. Juan Marchetti, director of the WTO’s Trade in Services and Investment Division, said constraints are regulatory rather than technological and that stablecoins still account for about 3 percent of international payments. The WTO said cross-border stablecoin payments grew 35-fold from 2020 to mid-2024.
Industry
Yeo Han-koo steps up push to resolve trade issues at Davos forum
South Korea\'s top trade negotiator Yeo Han-koo held broad trade diplomacy at the World Economic Forum in Davos, meeting trade ministers and executives about 50 times, the industry ministry said on Jan. 23. He discussed bilateral issues with the United States and held talks on steel import restrictions with the European Union and Canada. He also pushed for faster negotiations on multiple FTAs and attended WTO ministerial meetings focused on restoring the multilateral trading order.
