China's Ministry of Commerce states that China and South Korea have concluded a government-industry-university joint study on a Free Trade Area, with an MOU signed by both countries. Both parties agreed to further exchange opinions on their own concerns, in order to create conditions for launching talks soon.
Xinhuanet.com reports that the World Trade Organization's biennial review of China's trade policies alleges that China may be giving its manufacturers an unfair advantage by restricting exports of some raw materials. China uses restrictions such as prohibitions, licensing, quotas and partial tax rebates to manage exports of certain resources.
The European Chemicals Agency has issued a notice announcing that a new version of REACH-IT is now available.
The European Union has posted its responses to questions posed by the World Trade Organization arbitrator examining the dispute U.S. - Laws, Regulations and Methodology for Calculating Dumping Margins ("zeroing", DS 294) on the parties' interpretation of the terms "trade effects" and "lost trade."
In the June 1-3, 2010 editions of the Official Journal of the European Union, the following trade-related Commission notices were posted:
The World Trade Organization reports that the value of global trade in goods was around 25% higher in the first three months of 2010 than in the same period of 2009. Using the same “year-on-year” quarterly comparisons, global exports rose by 27%, while imports rose slightly less, at 24%.
The Center for Environmental Health has announced a nearly $1.7 million legal agreement with more than 40 major retailers and vendors, including Macy’s, Sears/Kmart, Target, Kohl’s, JC Penney, Guess, Victoria’s Secret, and Saks, that will end lead threats in handbags, purses, wallets and other accessories sold in stores nationwide.
On May 31, 2010, the Embassy of the United Arab Emirates deposited the UAE's instrument of accession to the International Convention on the Simplification and Harmonization of Customs Procedures (revised Kyoto Convention) with the World Customs Organization.The Convention is regarded as a blueprint for effective and modern Customs procedures.
The European Commission has launched a broad public consultation on the future direction of EU trade policy. The consultation will run from June 2, 2010 to July 28, 2010 and is open to all stakeholders within the EU and in third countries. The EC intends to issue its new policy in the Fall of 2010.
The Chairman of the World Trade Organization panel examining the dispute, "U.S.-Measures Affecting Imports of Certain Passenger Vehicle and Light Truck Tires from China" (DS399), has announced that the panel's report will be delayed due to scheduling conflicts. The panel now expects to complete its work in November 2010. (May have to click on source document twice for proper viewing.)