The European parliament has given its approval to new rules that will permit a rise in customs duties on the EU’s trading partners by means of an executive decision. This will enable the Commission to more efficiently enforce EU rights under international agreements and provide a more rapid and effective reply to any illegal measures imposed by other countries or blocs. Where a decision of an international trade organization determines that a trading partner of the EU has not kept to the international rules, the European Commission will be in a position to quickly impose trade sanctions on that other party. The Commission could for example increase its own duties in respect of imports from that party, set quotas or restrict access to EU public contracts.
EU To Reduce Bureaucracy for Trade Sanctions
18 May, 2014