Industrial Policy Could Trigger a Subsidies War How to Prevent It barrons.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barrons.com Daily Mail and Mail on Sunday newspapers.
Minister of Commerce Dr. Majid Al-Qasabi held a meeting with US Secretary of Commerce Gina M. Raimondo in Washington over means to enhance economic and commercial relations between the two friendly countries. Saudi Ambassador to the US Princess Reema bint Bandar bin Sultan was present at the meeting.
Hungary Embraces China’s Belt & Road, Undermining Efforts to Curtail Human Rights Abuses
News Analysis
As the free world unites to condemn and penalize the human rights violations and aggressive expansion of the Chinese Communist Party (CCP), one European country is moving against the tide.
Hungary has demonstrated a firm pro-CCP stance in a series of recent events, after the European Union, the United States, the UK, and Canada announced sanctions against China over the genocide of Uyghur Muslims on March 22. The Hungarian Foreign Minister Peter Szijjarto accused the sanctions of being “pointless, self-aggrandizing, and harmful.” Of the 27 EU members, Hungary was the only country that voted against the sanctions.
Since the start of the Trump administration, the United States has refused to appoint any new members to the body, effectively allowing countries to avoid compliance with WTO rulings. The primary driver of this drastic action has been American frustration at perceived judicial overreach. U.S. policymakers, starting with the George W. Bush administration, have repeatedly voiced their displeasure with Appellate Body decisions, contending that certain decisions have reached beyond the text of existing WTO agreements.
In particular, U.S. complaints have focused on WTO rulings that criticize the United States’ use of antidumping and countervailing duties. These tariffs are intended to protect American firms against subsidized or predatorily priced goods and have become an increasingly important part of the American trade arsenal. Another area of concern has been the narrow way in which the Appellate Body has defined “public bodies,” a ruling that makes it harder to apply tariffs ag