EU

Trade rep targets EU hams, cheeses, olives and pasta for tariffs
Agency says it is waiting for WTO arbitrator’s ruling before next steps in long-running Airbus subsidy dispute

U.S. Trade Representative Robert Lighthizer identified possible tariff targets in response to a possible World Trade Organization ruling against Airbus. (Tom Williams/CQ Roll Call)

Agricultural goods and metal products topped a list of European Union goods targeted for possible trade countermeasures as the U.S. Trade Representative turned up the pressure in the Airbus subsidy dispute on Tuesday.

The USTR added 89 tariff categories with a value of $4 billion in a new list of potential targets for retaliatory tariffs, increasing the potential value of such imports by about 19 percent since it took public comment on May 15 and 16 on possible targets.

EU to move first on crypto rules. Will US follow?
Podcast, Episode 135

Chris Brummer (right), a Georgetown Law professor and faculty director of the Institute of International Economic Law, talks to the CQ on Congress podcast host Shawn Zeller (left) at CQ Roll Call's studio  Jan. 8, 2019. (Photo by Nathan Ouellette/CQ Roll Call)

 

European officials are expected to fire the first shot in the regulation of cryptocurrencies, with recommendations on what should be done to protect investors and preserve the integrity of financial markets. 

Ignoring GOP Pleas, Trump Sets Tariffs In Motion
Canada, Mexico initially exempt when import fees start March 23

President Donald Trump addresses the Conservative Political Action Conference on Feb 23. His steel and aluminum tariffs will take effect March 23. (Tom Williams/CQ Roll Call)

Updated at 4:22 p.m. | President Donald Trump on Thursday set in motion tariffs that will slap fees on many imports of steel and aluminum, moving ahead with a major part of his “America first” philosophy above the loud objections of Republican lawmakers.

“People are starting to realize how important it is,” Trump said just before signing in the Roosevelt Room. He said a “strong steel and aluminum industry” is “absolutely vital” for national security, predicting his action will trigger the reopening of American production facilities.

5 Things the Brexit Vote Means for the Rest of the World
Plunging markets, political instability among immediate forecasts

The upcoming resignation of British Prime Minister David Cameron, seen during a visit to the Capitol in 2013, is just one consequence of the Brexit vote. (Tom Williams/CQ Roll Call file photo)

The shock waves of the decision by British voters to leave the European Union began almost immediately after the polling booths closed Thursday night. The British pound plummeted against the dollar, the Dow tanked , and experts predicted years of uncertainty in the United Kingdom and Europe. Here are five immediate takeaways.  

1. Economic instability :  Economic forecasts predicted a prolonged recession in Europe and the United Kingdom after a Brexit vote. Sebastian Mallaby, a senior fellow at the Council on Foreign Relations, explained why in an op-ed published last week in The Washington Post: British regulations, derived from EU rules, will have to be rewritten wholesale. Nobody will know for some time what will happen with Britain's commercial relationships with its trading partners or its membership in the EU single market. Global businesses based in London will begin considering whether they should move, triggering a potential real estate bust — and anyone who lived through the 2008 recession knows what that would mean for consumer spending.