World Trade Organization

The European Union and China agreed to establish a Trade and Investment Consultation Mechanism to address growing commercial tensions and the EU's trade deficit. The platform will focus on trade balancing, export controls, intellectual property, and WTO reform, with a working group to monitor trade flows and prevent destabilizing import spikes.

Argentina's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) raises questions about its sovereignty claim to the Falklands, as the UK—a CPTPP member—is also involved. This would mark the first major trade agreement since the 1982 war where Argentina and the UK share partner status outside traditional frameworks like the UN or WTO.

The EU has prolonged the suspension of retaliatory tariffs against the US in the Airbus-Boeing dispute to avoid reigniting a trade war. The truce, part of a 2021 agreement with the Biden administration, was set to expire on July 11, but negotiations for its new duration are ongoing.

Zoe Williams participated in a protest against the G8 summit in Genoa 25 years ago, where 200,000 demonstrators opposed wealthy nations dictating global rules. The article reflects on the anti-globalization movement's tactics and the G7's current decline, suggesting it no longer requires protests to lose influence.

China rejected an OECD report claiming its firms receive higher government subsidies than international peers, calling the findings 'one-sided and arbitrary.' The Ministry of Commerce criticized the report's methodology for lacking a unified standard and deviating from WTO consensus, amid escalating EU concerns over Beijing’s industrial policy.

EU commissioners will discuss imposing new restrictions on Chinese imports amid concerns that increased reliance on Beijing could lead to economic decline similar to US rust belt towns. The surge in imports of products like electric cars and medical devices has been labeled 'China Shock 2.0,' drawing comparisons to the US experience after China joined the World Trade Organization 25 years ago.

Central and eastern China experienced record rainfall, killing at least 25 people and prompting 280m yuan in government aid. Heavy rains linked to global warming and El Niño affected 20 provinces, with 500 weather stations recording historic levels. China criticized EU trade measures targeting its clean-energy industries, while EU debates policies to reduce reliance on Chinese goods.

The EU industry's reliance on imports from China is growing, prompting warnings of cannibalisation of European industries and potential job losses. Trade analysts fear that the plunging exchange rate and support for Chinese firms could lead to a crisis similar to the US 25 years ago. This could result in the loss of up to 2.5m jobs.

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Pettis discusses China's growth challenges and global trade imbalances. The article highlights the complexities of international trade and economic growth. Pettis provides insight into the issues affecting China's economy.

Copper prices have rallied above $14,000 a ton, nearing a fresh all-time high. This surge in price indicates a significant increase in demand or decrease in supply. The rally is likely driven by market trends and economic factors.

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Ayub's foreign policy is driving risk sentiment due to its yo-yo nature, causing uncertainty and instability. The unpredictable policy changes are affecting overall risk perception. This volatility is a concern for investors and stakeholders.

The article criticizes President Trump's threats to withdraw from NATO as strategic illiteracy, highlighting his controversial actions against international organizations like WHO and WTO, as well as U.S. agencies such as FEMA and USAID. It frames his policies as reckless and harmful to America.