Tougher EU trade dispute rules come into force
The European Commission announced on Saturday that its new rules on defending its global trade interests came into force.
According to the new regulations, the European Union will not have to wait to act on a blocked trade dispute until after all dispute settlement procedures have been completed. Instead, the bloc will be able to take action sooner to protect its international trade interests. Furthermore, the EU will now also be able to introduce countermeasures in cases related to services and trade-linked intellectual property rights while previous regulations only allowed for retaliation in goods.
“The European Union must be able to defend itself against unfair trading practices. These new rules will help protect us from those trying to take advantage of our openness. We continue to work towards our first preference, which is a reformed and well-functioning multilateral rulebook with an effective Dispute Settlement System at its core. But we cannot afford to stand defenseless in the meantime. These measures allow us to respond resolutely and assertively,” Executive Vice-President and Commissioner for Trade Valdis Dombrovskis said.
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