EU Launches Trade Policy Review, Consultation
The European Union trade policy is under review, aiming for a “fresh medium-term direction” for its trade agenda, a June 16 European Commission news release said. The EC is seeking input from industry, lawmakers and member states to help it respond to “new global challenges” arising from the COVID-19 pandemic. Trade Commissioner Phil Hogan said the EU needs a “tougher approach” to defend against “abusive” trade actions. “The current pandemic is reshaping the world as we know it, and our trade policy must adapt to be more effective in pursuing European interests,” Hogan said in a statement. “With this review, we will listen to everyone who has a stake.”
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The EC said it will publish the results of the consultation later this year, which will focus on World Trade Organization revisions, expanding trade opportunities, strengthening trade and investment relationships with major trading partners, and leveling the playing field for EU companies. Comments are due by Sept. 15.