Search results for World Trade Organization
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
Trump launches Section 301 probe into 16 economies, cites evidence of overcapacity in South Korea
The Trump administration has opened a Trade Act Section 301 investigation into 16 economies including South Korea, citing unfair trade practices linked to overcapacity and goods made with forced labor. USTR said targeted economies sustained U.S. trade surpluses through intentional overproduction. It cited South Korea’s trade swing from a $10 billion deficit in 2023 to a $52 billion surplus in 2024. The probe will take comments, hold a hearing and then decide possible measures.