In The News

Bulgarians and Romanians Free to Work in UK as Controls End

Mark Lowen January 2, 2014
The single market of the European Union is designed to allow most goods, services, money and people to cross borders of member nations. Mechanisms allow gradual introductions, even delays, for transition. Some in the United Kingdom express concern about Bulgarian and Romanian citizens relocating to the United Kingdom after controls in place since 2007 expired, reports Mark Lowen for BBC News. “...

Canadian Pizza Eateries in Bind as Cheese-Import Loophole Closes

Barrie McKenna December 19, 2013
Trade barriers protect industries only briefly. Canada has a 200-plus percent tariff on imported cheeses, designed to protect its diary industry. Restaurants took advantage of a loophole to purchase special cheese-and-pepperoni kits from the United States, but the government revised rules; packages with fresh cheese now include the tariff. “Restaurants have long chafed at special Canadian rules...

Back to the Future in Europe?

Marc Grossman, Dan Fata December 16, 2013
Ukraine and other former Soviet republics are in the middle of a tug of war between the West and Russia. Negotiations over an association agreement between Ukraine and the European Union – for promoting trade, cooperation, and reciprocal rights and obligations – were nearing conclusion when Russia urged abandonment, explain Marc Grossman and Dan Fata of the Cohen Group. Grossman is also former...

America’s Role as Consumer of Last Resort Goes Missing

Simon Kennedy December 16, 2013
Household final consumption represents about 70 percent of US gross domestic product, yet “Cheaper fuel and raw materials are boosting manufacturing, making the U.S. more of a competitor to emerging-markets nations and less a reliable consumer of their goods,” reports Simon Kennedy for Bloomberg. The US recorded its lowest current-account deficit since 1999, assisted by new supplies of domestic...

Pursuing Politics or Perfection?

Nayan Chanda December 11, 2013
The agreement reached in Bali at the World Trade Organization ministerial meeting relied on a draft proposal from India, permitting temporary price supports and famer subsidies until WTO rules are reformed. Critics agree that intentions behind such food guarantees are well-meaning, but India’s program is riddled with inefficiencies, distorting what farmers choose to grow. The Bali agreement is...

Bali Boost: WTO Lives, Snatched for Now From Jaws of Defeat

Jean-Pierre Lehmann December 10, 2013
A round of congratulations is in order for the WTO, after agreement in Bali on a package that promises a spirit of global cooperation and level playing field for developing nations, particularly in agriculture, commodities and labor-intensive manufactured goods. But the agreement is essentially a package of promises. Ultimate success requires leadership and vision, warns Jean-Pierre Lehmann,...

Global Deal Shows “Coming Alive” of WTO

Shawn Donnan December 9, 2013
The World Trade Organization surprised the world and itself with a new global agreement. After multiple failures in the past decade, the organization was given up for dead. “What the world’s trade ministers technically agreed to on Saturday was… a relatively modest package to help businesses get their products through borders more easily,” reports Shawn Donnan of the Financial Times. “For the...