NetNews Usenet Archive 1992 #31/NN_1992_31.iso/spool/misc/activism/progress/9569

Text File | 1992-12-22 | 5.5 KB | 126 lines

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From: Hannah Holm <[e-mail]>
Subject: TRADE NEWS DECEMBER 22,  1992
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TRADE NEWS BULLETIN
Tuesday,  December 22,  1992
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GATT News Summary
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NEW GATT OBSTACLE: U.S. NEGOTIATING STANCE

U.S. moves to revoke earlier concessions in such areas as
industrial tariffs and financial services have provoked European
accusations that the U.S. is backtracking in GATT negotiations.
The charge,  along with a number of other still-unresolved
issues,  casts doubt on whether a completed world trade deal
will be reached by mid-January,  a goal U.S. President Bush and
British Prime Minister John Major promised to aim for over the
weekend.  U.S Trade Representative Carla Hills argued that the
U.S. position was justified by the "limited results" the U.S.
achieved in its recent deal with the EC over farm subsidies.
Assistant U.S. Trade Representative Kathleen A. Lyndon said all
blame for delay in the trade talks rests with the French,  "who
have made no secret of their goal to hold hostage the entire
world trade system to get past their March election."

French Agriculture Minister Jean Pierre Soisson claimed victory
for France in its efforts to resist the terms of the U.S. - EC
agricultural deal,  saying,  "We are winning the battle over
GATT.  I don't think the Washington draft agreement can be
implemented in the present circumstances."  Soisson told Reuter
in an interview that points of contention remain between the
U.S. and EC over whether export subsidy cuts of 21% and
guaranteed 5% EC market access by 1999 are to be accross the
board for all products,  or whether bigger percentages for some
goods can be offset by smaller percentages in others.  On
Monday, French Foreign Minister Roland Dumas accused the
European Commission of overstepping its negotiating mandate
by presenting its formal offers on subsidy cuts at GATT talks in
Geneva last week without obtaining approval from the
ministers.  Frans Andriessen,  EC Commissioner for external
relations and trade,  hotly denied that the Commission action
was innappropriate.

Andriessen and EC agriculture commissioner Ray MacSharry
will leave this week to make way for members of the new EC
Commission.  Former EC competitiveness commissioner Sir Leon
Brittan of Britain will take over Andriessen's post,  and
Luxembourg farm minister Rene Steichen will replace
MacSharry.

Source:  William Drozdiak,  "U.S. Accused of Retreating in Trade
Talks,"  WASHINGTON POST FOREIGN SERVICE;  Juliette Rouillon,
"France Winning GATT Tussle,  Farm Minister Says,"  REUTER,
December 22,  1992;  "France Repeats Trade Charges Against EC
Commission,"  REUTER;  "Britain Joins Chorus Against U.S. Stance
on GATT,"  REUTER,  December 21,  1992;  Andres Wolberg-Stok,
"EC's Andriessen-MacSharry GATT Duo Bows Out,"  REUTER,
December 22,  1992;  Lionel Barber,  "French Threat to Trade
Accord,"  FINANCIAL TIMES, December 22, 1992;  John
Zaracostas,  "Dunkel Warns Trade Negotiators of Race on Time,"
JOURNAL OF COMMERCE,  December 21, 1992.
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LATIN AMERICAN NATIONS PROTEST BANANA QUOTA

Colombia,  Costa Rica,  Ecuador,  Guatemala,  Honduras,
Nicaragua,  Panama and Venezuela have signed a statement
asking the EC to review its banana quota agreement.  The EC
Farm Council last week adopted  a  2 million ton quota on Latin
American banana imports with a  20% tariff. The tariff rises to
170% for quantities over the quota.  The limits are designed to
protect bananas from former European colonies in Africa,  the
Caribbean, the Pacific and within the EC,  which are produced on
a smaller scale than bananas from the corporate plantations of
Latin America.

Source:  "Latin Banana Producers Protest EC Import Quotas,"
REUTER,  December 22,  1992.
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NAFTA News Summary
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NAFTA KEY IN U.S. BUYING OF MEXICAN STOCKS

Wall Street analysts say U.S. investors will increasingly invest in
Mexico in 1993,  due to expectations of lower interest rates and
increased confidence in the stability of the Mexican economy.
Expectations of progress towards approval of the NAFTA will
also play a big role, according to one analyst. "NAFTA is sort of a
signal on many fronts that in Mexico you wont be able to turn
the clock back and the reforms will be there to stay, "  said
Smith Barney analyst Scott Kaulb.

Source:  Patricia Vowinkel,  "U.S. Investors Back Mexican Stocks,
NAFTA Key,"  REUTER,  December 21,   1992.
__________________________________________________
Other On-line Conferences:
trade.strategy - a discussion of trade issues
trade.library - a repository of trade information
eai.news - a news summary on Latin American trade topics
susag.news - a news summary of sustainable agriculture issues


Produced by:
Hannah Holm
The Institute for Agriculture and Trade Policy (IATP)
1313 Fifth Street SE, Suite #303
Minneapolis, MN 55414-1546 USA

Telephone:[phone] Fax:[phone]
E-Mail:[e-mail]
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